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How to pay your credit card
There are a number of ways to pay your credit card. This page details each of the options available to you.
Our guides
Getting started online
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If you're not registered for Internet Banking, you can visit us in branch or call us. You can also pay by post.
You’ll need your 16-digit credit card number if you call us.
Let’s look at the details
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- You can make payments to your credit card account at any time, but you need to pay at least the minimum amount shown on your statement each month.
- If you can't pay the whole statement balance, it's a good idea to pay as much as you can, as it may help to keep any interest costs down.
- If you only make the minimum payment each month, it'll take longer and cost you more to pay off your balance.
- If you pay late or miss a payment, you may have to pay fees, lose any promotional offers you have, and it could damage your credit score.
- Set up a regular Direct Debit payment and we’ll automatically claim your selected payment amount when it’s due.
- If a Direct Debit isn’t taken for 37 months, it will become inactive, and your bank or building society will remove the details from their systems. If this happens, you’ll need to set up a new one.
- You can also make payments, instead or in addition to a Direct Debit, from a bank account, with a debit card, by cheque or with cash at a branch.
- If you choose to make one-off payments, just make sure that the method you use will get your payment to us on time.
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If you miss a payment, in addition to fees and charges, you could lose any promotional rates which apply to your account. If that happens, your standard account interest rates and fees will apply. Missing a payment could also affect your credit score and your ability to borrow in future, so it’s important to keep track and manage your account well.
It’s important that you make at least the minimum payment shown on your statement each month, and that it reaches your account by the due date.
If you’re experiencing difficulties making your credit card payments, please let us know so we can help. You’ll find information and support on our money worries page.
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You can change your payment due date to better suit your needs. For example, if you usually receive your salary later than your due date falls.
The fastest way to do this is through our Mobile Banking app or Internet Banking on a laptop or desktop computer.
- On the Mobile Banking app, from your credit card account summary select the 3 dots, scroll to Manage Account. Select Change payment due date to begin.
- To use Internet Banking, log on or register to get started. From your credit card account summary, select ‘More actions’, then ‘Paying your credit card’. Here, select ‘Request payment due date change’.
Just be aware, your change may apply to a future payment, rather than the next one, depending on when you make your request.
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You may be aware that different rates of interest apply to portions of your balance, varying based on transaction type, and whether the standard or a promotional rate applies. To check the rates that apply to your account, refer to your latest credit card statement.
To help you to keep your interest costs to a minimum, payments you make will be allocated to balances with the highest interest rates first, and to those which appear on your monthly statement, before those which will feature on future statements.
If you have a balance at a promotional rate, it’s useful to remember that payments will apply to any standard rate balances first, even if the promotional period is nearly over.
If you have more than one balance with the same interest rate, payments will be allocated in this order:
- Cash transactions.
- Card purchases.
- Balance and money transfers.
- Default fees, including interest and other charges added.
Transactions and related fees or charges will be repaid in date order, starting with the oldest first.
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When setting up a Direct Debit, you can choose to make; the minimum payment, clear the full balance or set a fixed amount.
You can make additional payments at any time to reduce your balance and any interest costs, but it’s important to understand how interest is charged and when it applies, especially if you’re planning to pay off your balance in full.
Because interest is calculated daily and charged to your credit card statement when it’s produced each month, you may need to pay an amount of ‘residual interest’. It’s a little complicated, so we’ve created a short guide to explain paying your credit card balance in full.
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You can send us a cheque by post. Please don’t send cash.
Make your cheque out to Lloyds Bank and remember to write your name and credit card number on the back. Send your completed cheque to:
Lloyds Card Services
PO BOX 109
Sheffield
S98 1GE
If you’re posting a cheque, please allow at least 7 working days for it to reach your Lloyds Bank credit card account.
We don’t accept cheques made out for a date in the future (post-dated). These are usually returned. This can result in a missed payment and fees.
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