Lloyds Bank Platinum 0% Purchase

For anyone in the UK who wants extra breathing room on their finances.

The Lloyds Bank Platinum 0% Purchase & Balance Transfer Credit Card offers a straightforward way to do it. It’s a card built for two main jobs: helping you spread the cost of something big, or giving you a chance to clear existing debt without paying interest along the way. In 2025, it’s among the stronger options, with interest-free periods that can outlast many of its rivals.

Why It Appeals

You get up to 21 months with no interest on purchases, which can be a lifesaver for larger outlays like home upgrades, booking a holiday, or covering a wedding bill. There’s also a 19-month interest-free window for balance transfers, making it easier to move expensive debt from another card and chip away at it without the usual extra cost.

How It Works

From the day you open your account, the promotional periods begin. Anything you buy in the first 21 months avoids interest, provided you clear it before the offer ends. Balance transfers made within the first 90 days get the 19-month 0% deal, but you’ll pay a one-off fee of between 2.99% and 5% of the amount moved.

Once the clock runs out, the standard variable APR — currently about 24.94% — applies. That’s when costs can build quickly, so the aim should be to clear your balance before then.

How It Compares

Card Name	0% on Purchases	0% on Transfers	Transfer Fee
Lloyds Bank Platinum	21 months	19 months	2.99%–5%
Barclaycard Platinum All-Rounder	20 months	20 months	3.45%
Halifax 0% Purchase & Balance Transfer	20 months	18 months	3%

When It’s a Good Fit

• Big purchases – Pay over time without adding interest to the bill.
• Debt clearance – Shift balances from high-interest cards to cut costs.
• Seasonal spending – Smooth out expensive times of year like Christmas or summer holidays.

An Example of the Savings

If you moved £3,000 from a card charging 24% APR onto this one, you could save more than £900 in interest over the 19-month period — even after the transfer fee. That’s money you could put straight back into your budget. Large purchases also become easier to manage when you can spread them across many months without extra charges.

A word of caution: miss a payment and you could lose the promotional rate. Always pay at least the minimum due.

Before You Apply

• Check your chances: Lloyds has a “soft search” tool so you can see if you’re likely to be approved without hurting your credit score.
• Know what’s excluded: Cash withdrawals, foreign currency spending, and money transfers don’t qualify for the 0% offer.
• Have a plan: Work out how much you owe and divide it by the number of interest-free months. That way you’ll know exactly what to pay each month to clear it in time.

Final Thoughts

The Lloyds Bank Platinum 0% Purchase & Balance Transfer Credit Card stands out for its long interest-free windows and dual benefits for both spending and transfers. It’s not meant for ongoing borrowing once the offer ends, but for anyone who’s organised with their repayments, it can be a cost-cutting tool that genuinely makes a difference.