The Lloyds Ultra Credit Card is a compelling choice for those looking to earn rewards on their everyday spending. It features 1% cashback for the first 12 months on all card purchases without a cap, then 0.25% ongoing. Representative APR stands at a competitive 12.9% (variable), making it attractive for responsible cardholders. Additional perks include no foreign transaction or cash withdrawal fees, as well as an extra cashback boost of up to 15% at selected retailers through Everyday Offers.

How to Apply: Step-by-Step

1. Check your eligibility using the online tool—no impact on your credit score.
2. Fill in your personal and financial details.
3. Review the card’s key features and terms.
4. Submit your application securely online.
5. Receive a quick decision, with your credit limit and confirmed APR given upon approval.

Advantages of the Lloyds Ultra Credit Card

One major advantage is the high introductory cashback rate of 1%, which applies to all purchases for the first year, maximising your rewards for regular spending.

Another benefit is the absence of foreign transaction fees, making this card ideal for travellers or those who shop abroad, saving you money on overseas purchases.

Potential Drawbacks

After the first year, the cashback drops to 0.25%, which may not be as rewarding for those with higher annual spending.

Also, the high interest rates typical for cashback cards mean you should pay off your balance in full each month to avoid erasing your cashback benefits with interest charges.

Verdict

For those seeking a straightforward cashback card with low fees and flexibility, the Lloyds Ultra Credit Card is a solid option. It’s especially suited for frequent spenders who can clear their balance monthly. However, the long-term cashback rate may not compete with the highest-earning cards on the market. Overall, it’s a valuable card for responsible users who want simple, efficient rewards.