Lloyds launches cashback credit card scheme

As part of this, consumers will receive a £20 cashback incentive when they spend £1,000 within the first three months. Credit card users will also earn cashback on day-to-day credit card spend, whenever they spend using the card, regardless of the amount spent.

Customers will earn up to 0.5% cashback reward on all purchases. In addition to this, they’ll earn 0.25% on every pound they spend up to £4,000 over the course of the year, and 0.5% for every pound spent over £4,000.

Cashback will accumulate over the calendar year and will be paid directly into the customer’s account as an annual lump sum.

Lloyds Bank managing director Elyn Corfield said: “We’re excited to have launched our new cashback credit card, rewarding customers for every purchase they make. Whether it’s day-to-day spend on groceries, clothes or restaurants, our customers will be able to earn money back, which is then saved and paid into their account at the beginning of each year.”