The New Lloyds TSB Premier American Express Credit Card

Need a personal assistant to help you look for anything from theatre tickets to where to eat out tonight? If so, the new Lloyds TSB Premier American Express Card may be just the ticket for you.

Lloyds TSB and American Express Credit Card have teamed up to introduce the new Lloyds TSB Premier American Express Credit Card that offers cardholders the services of a personal assistant 24 hours a day, 7 days a week, to be the cardholders personal lifestyle gofer and supply help to cardholders in finding any of their personal needs.

There is, however, a catch. Not only are basic cardholders required to pay a membership fee of £4.95 a month, but the 21.2% interest rate being applied to the card is significantly high enough to ensure that the type of customer who applies for this type of UK credit card is one who intends to clear their outstanding UK credit card bill each statement payment date. Little wonder then that for £8.95 membership a month the card offers a Priority Pass Prestige membership that allows cardholders access to over 500 VIP airport lunges worldwide.

Clearly aimed at the business traveler with too little time on their hands to organize a night out, Colin Walsh, Lloyds TSB credit card director, states that “The Lloyds TSB Premier American Express Credit Card is designed to give card members a first class concierge service and lifestyle focused rewards.” The rewards here come in the form of an increased rewards scheme being offered by the credit card and with every £1 being spent on the card being traded for 1.33 reward points, this is clearly an attractive offer at over a third higher than the standard rewards currently being offered on other Lloyds TSB credit cards.

Nonetheless, both the high annual percentage rate (APR) and the monthly membership fees normally mean that this is not the type of credit card that is usually recommended to UK credit card users unless they know that they can both repay the card balance each month in full and also take full advantage of all the additional bonus services being offered. Which is why you really need to be asking yourself whether you need a life-style assistant to be helping you plan your social life each night. And if you do, clearly a premium credit card is for you.

Richard Smith
25th September 2006

More Information:

• Credit Card Types
  Credit cards have evolved from their early days into flexible financial tools for most types of spenders – and savers. But with so many types of credit cards on offer it can be somewhat overwhelming.
• Choosing the Right Card
  There are literally hundreds of credit cards on offer in the UK, and the list is growing daily. So, which is the best on offer? It very much depends on how each person plans to use their card. The answer lies in asking one simple question; “What do I want to use a credit card for?”
  

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