Lloyds has rolled out a reward scheme to promote the launch of its Advance credit card, which is aimed at customers who are new to credit.
The Advance card is designed to provide tailored support to help users build a strong credit score responsibly. It is targeted at people with big life goals, such as getting on the property ladder or buying a first car, but require borrowing to make those ambitions a reality.
While many customers focus on saving for major purchases, Lloyds aims to communicate that a healthy credit score is equally important to access the most competitive rates and products.
To promote the launch of the card and incentivise positive credit behaviour, Lloyds’ reward scheme offers £20 to customers who keep their account up to date during the first six months.
The promotion forms part of Lloyds’ marketing strategy to engage new customers, build credit confidence, and differentiate the Advance card in a competitive market by combining practical financial support with tangible rewards.
Rich Napier, credit card managing director at Lloyds, said: “Advance is more than just a way to pay, it’s a way to learn. With simple interest rates and access to our Your Credit Score tool, it’s a great option for building financial confidence and independence,
“It’s all part of a bigger mission: helping young people feel empowered, not intimidated, by financial products.”