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If you got the letter closing your Lloyds Avios Rewards Amex card, what should you do?

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After a bit of a lull, Lloyds Bank has sent out what is probably the final batch of letters to holders of the legacy Lloyds Avios Rewards credit cards.  The cards close 60 days after your letter was dated.  

The Lloyds Avios Rewards American Express and Mastercard package will be replaced with a new Lloyds Avios Rewards Mastercard.  There will be no American Express element.

What is best replacement for the Lloyds Avios Rewards Amex card? 

I thought I’d run through your options.

In summary, this is what will happen when your card is switched to the new Mastercard:

  • the upgrade voucher is dead (you will be allowed to earn one for your current card year)
  • there will no longer be an annual fee, saving £24
  • there will be foreign exchange fees of 3%

Lloyds Avios Rewards credit card replacement

This is the earnings rate on the new Lloyds Avios Rewards Mastercard:

0.4 Avios per £1 you spend in the UK

0.8 Avios per £1 you spend outside the UK

0.4 Avios per £1 transferred on a balance transfer

Because the Mastercard element of the old Avios Rewards cards was so poor, this actually represents an improvement.  You currently get 0.2 Avios per £1 on the Mastercard in the UK and 0.4 Avios per £1 elsewhere.

The balance transfer option is a great deal when Lloyds runs its occasional ‘no fee’ promotions.  You move as much money as you can, pay it off the same day and pocket a big pile of Avios!

Holders of a Club Lloyds current account will earn an extra 0.1 Avios per £1 (0.2 Avios per £1 for foreign transactions).  This takes you up to 0.5 Avios per £1 for UK spending and 1 Avios per £1 for foreign spending.  For this to kick in, you must have had a Club Lloyds current account for at least six months.

Will the new free ‘Mastercard only’ Lloyds Avios Rewards card open to new applicants?

It isn’t clear.  I asked Avios this last week and my contact said that he hadn’t heard of anything, so the answer looks like ‘No’ in the medium term.

Now that is closed it is very possible that BA’s agreement with American Express forbids it from actively promoting any other credit card which directly earns Avios.

Lloyds Avios Duo credit cards closing

Is the Lloyds Avios Rewards card worth keeping as a Mastercard?

If you want to earn Avios, yes.  It is more generous than the Tesco Clubcard Mastercard (0.3 Avios per £1).  The HSBC Premier cards are better (0.5 Avios per £1 on the free card, 1 per £1 on the paid card) but HSBC Premier has tough income and asset criteria and requires you to have a current account with them.

There is also going to be a formal announcement soon about a partnership between Avios and NatWest / Royal Bank of Scotland MyRewards.  Holders of NatWest credit cards may or may not currently see Avios as a redemption option for their MyRewards credit.

However ….. if you are happy to walk away from Avios, you can’t beat the new Virgin Atlantic Mastercard.  The free card has a 5,000 mile bonus and offers a whopping 0.75 miles per £1 – almost double what the new Lloyds Avios card earns!  The annual fee card has a 15,000 mile bonus and offers 1.5 miles per £1.

Lloyds Avios Rewards card closing

What is the best replacement American Express card?

If you have been using the American Express element of the Lloyds Avios Rewards cards for your daily spending, you will need a replacement.  Assuming that you want to keep earning Avios, here are your FIVE options ranked in order of sign-up bonus:

American Express Platinum    Sign-up bonus:  30,000 Amex Membership Rewards points = 30,000 Avios

(£450 per year, earns 1 Avios per £1, my Amex Platinum review)

British Airways Premium Plus American Express   Sign-up bonus: 25,000 Avios

(£195 per year, earns 1.5 Avios per £1, representative APR 76.0% variable including £195 fee based on a notional £1200 credit limit, my BA Premium Plus review)

American Express Preferred Rewards Gold   Sign-up bonus:  20,000 Amex Membership Rewards points = 20,000 Avios

(free, earns 1 Avios per £1 with a 10000 point bonus for spending £15000 in a year, representative APR 57.6% variable including the annual fee (free in year 1) based on a notional £1,200 credit limit, my Amex Gold review)

Starwood SPG Amex   Sign-up bonus:  30,000 Marriott points = 10,000 Avios

(£75 per year, earns 1 Avios per £1 jumping to 1.25 Avios per £1 if you convert in chunks of 60,000 points, representative APR 39.7% variable including fee based on a notional £1200 credit limit, my Starwood Amex review)

Amex Rewards Credit Card   Sign-up bonus:  0 – 10,000 Amex Membership Rewards points = 0 – 10,000 Avios

(free, earns 1 Avios per £1, APR and sign-up bonus depends on which of the three versions you get, my Amex Rewards review)

In my view, these are the best two options:

British Airways Premium Plus American Express – the No 1 attraction is the 2-4-1 voucher that you receive for spending £10,000 each year. This is valid on Avios redemptions in ALL classes and saves you, for eg, 150,000 Avios on two Club World peak day tickets to San Francisco. Coupled with a high earnings rate, all serious Avios collectors should have one of these.

(If you travel solo, though, ignore it as the 2-4-1 has no value to you.  Similarly, if you cannot spend £10,000 per year on the Amex to trigger the voucher then look elsewhere and save £195.  You also need to be certain that you can generate enough Avios per year to use the 241 voucher effectively – although reading HFP will make that easier!)

American Express Preferred Rewards Gold – this card offers the most generous sign-up bonus for a free card.  You receive 20,000 Amex points for signing up (=20,000 Avios) and there is no fee for Year 1 (£140 thereafter).  You also receive two Lounge Club airport lounge passes among other benefits.

These cards work well if you fall into a specific niche:

British Airways American Express – the free BA Amex has a decent (for a free card) rate of 1 Avios per £1. However, do not get this card if you are planning to spend the £20,000 required to earn the 2-4-1 voucher – this article explains why the free BA American Express card can be a bad deal.

American Express Platinum – you should consider applying for this card if you think you can get value from the travel benefits.  Focus on the 30,000 Avios sign-up bonus, the Priority Pass for airline lounge access, Eurostar lounge access, Marriott Bonvoy Gold, Hilton Honors Gold, Shangri-La Jade, Melia Rewards Gold and the Radisson Rewards Gold cards.  Many people find that they end up keeping the card despite their initial intentions because of the value of the travel insurance, lounge access and other perks.  For day to day spending, 1 point (= 1 Avios) per £1 is a bit of a joke considering the annual fee.

Starwood SPG American Express – the day-to-day earnings rate of 3 Marriott Bonvoy points (= 1 Avios) per £1 isn’t bad and you get the flexibility to convert to 40+ different airlines as well as using your points for Marriott hotels.  You also get an enhanced conversion rate of 1.25 Avios per £1 when you convert in chunks of 60,000 points.  The sign-up bonus is 30,000 points, which converts to 10,000 Avios.  The £75 annual fee is refunded pro-rata if you cancel.  For long term use, this card would be exceptional if it was free but the £75 fee curtails its value.  All cardholders get Marriott Bonvoy Silver Elite status.

Amex Rewards Credit Cardthis is the only ‘free for life’ Amex card which earns Membership Rewards points.  You get 1 point per £1 and these convert 1:1 into Avios BUT you can also use them for other airline schemes or transfers to Hilton, Radisson and Marriott.  This card is better than the free British Airways American Express if you won’t spend £20,000 to trigger the 2-4-1 voucher because, whilst both are free and earn 1 Avios per £1, Amex Rewards gives you alternative reward options.  The downside of the Amex Rewards Credit Card is that holding it stops you getting a sign-up bonus if you take out an Amex Gold or Amex Platinum card.

Don’t forget that our directory of all UK airline and hotel credit cards can be found here.

British Airways has set up a special page on for Lloyds credit card holders – click here – although there isn’t much there at the moment!

(Want to earn more miles and points from credit cards?  Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards Update’ link in the menu bar at the top of the page.)

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points and do not consider interest rates, service levels or any impact on your credit history.  By recommending credit cards on this site, I am – technically – acting as a credit broker.  Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as a credit broker.

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  1. My card year started yesterday and the £24 fee charged at the same time, so happy to get one final voucher!

    • Mycity says:

      Mine renewed four days ago, my letter says I will get new cards and a partial refund of the £24, it also states I have till Aug 13 to earn my next upgrade voucher

  2. Currently been using mine in Dubai and will be sad to see it go. One of the snags for me was with the way Lloyd’s treated the statements for supplementary holders. All transactions lumped into one statement with no distinction on which card spent what without having to go online and clicking on every single transaction individually to see the last 4 numbers of the card. Spent many months exporting to excel and manually entering the last 4 card numbers to each transaction wasn’t fun.

    I applaud Amex for showing the distinction on their statements.

    • Lloyds IT very dark ages. Been so many problems with these cards, but mucho compo not all bad. But you are correct, Amex have it, when it comes to statements.

  3. So if I’ve earned one for the current card year already, and my card year starts in May, I guess no more upgrade vouchers for me?

  4. Michelle says:

    Both my partner and I chewed through 10k spending each on our own AMEX BA Plus cards in the last 10 months. So we’ve now both got our own companion 2-4-1 vouchers and downgraded our cards. Which one next? I previously had the AMEX Preferred Gold but haven’t used my lounge passes yet so haven’t cancelled that yet. I guess my partner could get the Preferred Gold now and cancel the amex BA and wait until the 6 months and restart? Just need to compile enough points to use the companion also.. Is there another card I should be looking at instead?

    • I wouldn’t hang onto the Gold just for the lounge passes. You’re not 100% guaranteed lounge entry with them anyway and I also find that I’m generally travelling in CE, CW (and this year, F!) thanks to HFP so have lounge access anyway. It’s far more lucrative, points-wise, to cancel the card and re-apply after 6 months.

    • Isn’t it the case that the Lounge Pass is still valid even if your gold is cancelled prior to using it? I thought the LP was a gift for opening that didn’t depend on any sort of spend on the card or for keeping the account open. Am I wrong? How would the person at the desk at the lounge you go to know whether your gold card was open or cancelled?

      • AFAIK the lounge passes are cancelled when the gold Amex is – the lounge claims the entry fee back from Amex so they know if the card is no longer valid.

      • Lounge Club and Priority Pass cards only work when they are linked to an active credit card. This is so the lounge knows it is guaranteed payment if you bring in extra guests. When your card is scanned, there is a check done to see if the linked credit card is still active.

        • Phewph! I’m glad this came up. I was totally on the verge of cancelling my gold card – planning to use the Lounge Pass later this month. Will hold off till after then.

    • Refer each other for SPG, and start spending…cancel gold, so you start the 6 month cancellation clock ticking again. Conversion rate from spg good, once to earn 60k points, bonus is 30k alone…each £ becomes 3 x spg points.

      If you can hack the plat fee after 6 months down the line, remember it’s pro rata cancellation refund, then you could really earn massive numbers of points with bonus spend 35k, plus referrals 18k a time, as it allows cross referrals. Plenty to dwell on. You can refer from your other cards.

      Read Robs articles for beginners, well worth the time and effort.

  5. Hi Rob, What would you recommend as a way to replicate the fee free avios on foreign currency transactions?

    • Czechoslovakia says:

      +1. Spent over £25k on the Lloyds AMEX abroad in the last 12 months. Need a replacement. Not paying FX fees for avios, so looks like a boring FX fee free card going forward. Shame, but a good run while it lasted.

      • This is the real loss. I have spent just over £20k abroad last year earning an incredible 1.25 points per £1 and no FX fee. The back up for me now without pre-loading cards is going to be the MBNA Horizon card.

    • TGLoyalty says:

      Link it to a curve or Revolut. Both have 0.5% on weekends but you can hold a EUR balance on Revolut to get around that

    • +1 … Keen to know the best card / simple approach to consider for this (if one exists).

      • There isn’t one. You’d need to link another card to Curve or load up Revolut from one. Note that Tesco charges for ATM withdrawals via Curve and for Revolut topups.

    • Came here to say this. Get 0.5% cash back on purchases and then use that to buy avios 🙂

    • I am gutted to lose the no FX fees, I can’t guess how much I spent on this card but as I spent a few years living in Spain I would guess quite a lot!

      Luckily I am back in the UK now otherwise I would be facing a 3% increase on my entire spend.

  6. Yup. Received my letter in the post yesterday, coincidentally after calling Lloyds about an update as I’m doing a fair bit of traveling over the next three months. Looks like my card will be cancelled towards the end of a two-month trip to Rome.

    May be worth flagging up that the old cards should still be valid for a month after the new one is issued, so we should get up to three months of use out of this.

    Still sad that there is no obvious replacement for the solo traveler. An upgrade to Premium Economy with Virgin is not the same…

    • Old cards may be valid for a while but once they convert your account, new T&Cs will apply regardless of which card you use. This is mentioned in the letter.

  7. Hi slightly OT but I remember reading a while ago on HfP that Hilton were thinking of releasing a UK credit card does anyone know if its still in the pipeline?

  8. The Lord says:

    If I have until 5 April 2020 to hit my 7k spend. Does spend now count towards it or only spend from 5 April 2019?

    • Mycity says:

      My letter clearly states, I have till the 13th August to earn my upgrade voucher, my card has just renewed and the membership fee charged 4 days ago.

      • This doesn’t sound correct Mycity, you might want to check this with Lloyds. My card renewed on the 17th of Feb 19 and I have until the 17th of Feb 20 to hit the voucher as well.

        • Mycity says:

          Will do, it seems odd page 2 under the boxes what’s changing with your new Mastercard, when your card extras end says 13 August, I will give them a call and update.

        • Every letter I have seen has a different date.

  9. From April 5th

  10. Claire says:

    Neither of us have had our letters yet but in the likelihood our post is a bit hit or miss and it comes in the next few days does the letter say end of April will be the latest for the voucher to be issued. Would like to use for may half term 2021 but would need the voucher to expire may 2020 for this to work. If not will have to try to time it for use in Easter holidays 2021. Thanks

    • Daftboy says:

      Mine says I can earn voucher up until 29 Dec 2019

      • Daniel says:

        Same here. And given I’m been racing to get towards 7k in the first three months of this year, up to 6.5k so far, the card now goes in the draw until December to trigger the last voucher as late as possible.

        • Yep – shame they didn’t ever let you pick when you could trigger the voucher – I would have put thousands more through on it over the years if they had! Instead I’d spend £6.5k then leave it in the drawer for 10 months or so!

  11. I was dreading receiving the letter thinking it was an end to earning opportunities but unless I have missed something (which I probably have) I think I will be better off due to the improved earnings rate in UK MasterCard spend. I realise I will lose out on foreign spend but I don’t do much of that!

    The main reason I say this is because I have never found a way to use the upgrade voucher (I currently have 2 unused vouchers in my account which I don’t think we will use!)! We typically only do one long haul trip a year and use 241 and living in the north use low cost carriers for European travel.

    Am I missing something fundamental?

    • 2x one ways for lower taxes?
      use 1 u/g voucher for the outbound for both passengers, and the other upgrade voucher for the return. Could save you significant taxes if going to places with no/low APD etc.
      You would need to look at the Avios impact compared to 241 though, could be more expensive in avios but cheaper in taxes.

    • Tom1 is spot on here. The 241 voucher is fantastic for F redemption’s however if you are only flying J, the upgrade vouchers can offer a significant saving when it comes to taxes. Just remember that the only way you can use this voucher is by calling Avios @ 8am and by then a lot of redemption’s have already been snapped up. It didn’t stop me using my LLoyds upgrade voucher back from Sydney to LHR for 65,000 avios & £252.00. To this day I still think it’s been my best redemption.

      • Thanks for that info. Sounds like I might have been missing a trick for the last few years.

        One of my vouchers will definitely expire before I can use it, but will see if I can figure out how to use my last one to save some money.

        • fivebobbill says:

          Remember, voucher expiry date only applies to when you have to make the booking, not when you fly

        • Indeed as @fivebobbill says, totally different timeline for Lloyds vs 241 – the former is just book flight by expiry, for the latter you have to have flown the outbound segment. I’ve used lots of Lloyds vouchers over the years on off-peak US returns, really going to miss them!

        • Thanks fivebobbill! I had forgotten that. Maybe there is an opportunity after all!!! That’s very exciting, I will have to get my thinking cap on!

      • Nick_C says:

        If you have an Aerclub account, you can still redeem vouchers and book flights online at

        Nothing has changed. It functions the same way it always has.

        • My aerclub account never linked to my avios account. I will look in to this asap.

        • So I have just gained access to my Aerclub account but there are no vouchers to be seen anywhere?!

          • The Lloyds vouchers are now administered by BA and are only bookable via the BA call centre. They are NOT visible online but the BA call centre can see them. They are linked to your BAEC account.

        • @Rob I can still see my Lloyds voucher online on – received it in Jan. Of course online booking has never worked for flights with connections so I’ve always had to call anyway!

        • That’s what I assumed Rob however Alan & Nick appear to still be able to see their vouchers and Nick can actually redeem his online. Looks like it might be a glitch for the lucky few….Trying to secure flights at 8am once the Avios line opens is a nightmare. BA apparently can’t see my upgrade vouchers. I have to call a specific number.

        • fivebobbill says:

          +1, can still see mine and the wife’s vouchers on

        • fivebobbill says:

          Just on that, I have also taken screen shots of both vouchers, expiry dates, and terms;/contact details… in case they ever do disappear!

      • When did this change Rob – I redeemed one by calling about 4 weeks ago? It never showed in my BAEC account to my knowledge.

    • Discount Mike says:

      Booked using the upgrade voucher a couple months ago. Tried calling BA but was told to call who apparently temporarily open up your account. (so I was told).

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