Lloyds "has dealt a blow to existing customers by hacking at the rewards for its popular Avios Rewards credit cards", says Emma Gunn on ThisIsMoney. Lloyds closed its Avios Rewards scheme to new members back in May and it is now cutting how many Avios points existing members can earn from 1.25 per £1 spent to just 0.4 per £1.
This doesn't mean you should ditch your Lloyds card. "You won't find a better Visa or Mastercard earning rate," says Gunn. But if you switch to American Express, you could earn one Avios per £1 spent with the free BA American Express card; with the Premium Plus BA card, you will get 1.5 points per £1 spent.
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