Lloyds Bank
Lloyds Ultra Credit Card
A no-account-fee UK cashback and travel credit card from Lloyds Bank. It gives 1% cashback on all card purchases in the first year, then 0.25% cashback, with no foreign exchange fees from Lloyds on spending abroad. Lloyds also says there are no Lloyds cash withdrawal fees at home or abroad, though local or third-party ATM charges may apply.
Highlights
Main benefits
- No account fee
- 1% cashback in the first year
- 0.25% cashback after the first year
- No foreign exchange fees from Lloyds
- No Lloyds cash withdrawal fees at home or abroad
- Useful for travel and everyday spending
- Cashback appears uncapped from Lloyds launch information
- Eligibility checker available
Fees
Fees and charges
Joining fee
£0
Renewal fee
£0 account fee. Lloyds describes the Ultra card as having no account fees.
Annual fee waiver
Not Applicable
Who can apply
Eligibility
Lloyds’ general credit card application page says applicants need to be UK residents, aged 18 or over, and have a regular income. It also says users may not qualify if they are unemployed or a student, have bankruptcies, CCJs, IVAs, or were declined for a Lloyds credit card within the last 30 days.
Checklist
Documents required
- Identity details
- UK address details
- Income and employment details
- Financial information
- Bank account details
Process
How to apply
Apply through Lloyds’ official Ultra Credit Card page. Lloyds also provides an eligibility checker that gives an estimated credit limit without affecting the user’s credit score.
Value
Reward and cashback structure
Reward rate
1% cashback on all card purchases in the first year from account opening.
After the first year, earn 0.25% cashback on card purchases.
Cashback
Cashback is earned on card purchases. Lloyds’ launch information says cashback is uncapped and continues for the duration of the card at 0.25% after the first 12 months.
Good fit
Pros
- Strong first-year cashback for the UK market
- No annual/account fee
- No foreign exchange fees on spending abroad
- Useful for both UK and overseas purchases
- Wider acceptance than Amex
- No cashback cap mentioned in Lloyds launch information
Watchouts
Cons
- Cashback drops to 0.25% after the first year
- No lounge access
- No premium travel insurance benefit highlighted
- Cash withdrawals may still attract interest
- Local ATM or third-party charges may apply
- Not suitable if the balance is not paid in full every month
Related
Related cards
Compare
Compare Cards
| Field | Lloyds Ultra Credit Card | Amex Platinum Cashback Everyday Credit Card |
|---|---|---|
| Bank/provider | Lloyds Bank | American Express |
| Joining fee | £0 | £0 |
| Renewal fee |
| £0 |
| Best for | UK users who want 1% cashback in the first year plus no foreign exchange fees for travel spending | Everyday cashback, No annual fee users, UK users who can spend £3,000+ per year, People who prefer simple cashback instead of points |
| Reward rate |
|
|
| Cashback |
|
|
| Lounge access | No | No |
| Fuel surcharge waiver | No | No |
| Welcome benefit | The main introductory benefit is the 1% cashback rate for the first 12 months. I did not find a separate fixed cash/gift welcome bonus on Lloyds’ official page |
|
| Annual fee waiver condition | Not Applicable | Not applicable because the card has no annual fee |
| Eligibility |
|
|
| Apply link | Apply | Apply |