The Lombard 180 Card
Providing an awesome way to save on interest, the Lombard 180 Card offers up to 55 days interest free on purchases under $250, and up to six months interest free on purchases $250 and more. Plus, cardholders can shop at Lombard partner retailers to take advantage of up to 48 months interest free, while also benefiting from 0% p.a. on balance transfers for six months.
What we love...
First up, let’s get that balance transfer offer out of the way. Just one way the Lombard 180 Card lets cardholders save on interest is with its balance transfer offer, currently offering 0% p.a. on balance transfers for six months. This provides a great way to pay down credit card debt from other cards, paying less in interest to clear that debt faster.
However, what really sells this card is its interest free periods on purchases. These can be split into three categories:
- On purchases less than $250, you can benefit from up to 55 days interest free. This is pretty standard on credit cards these days, but it can allow you to keep interest costs at zero for everyday spending.
- On purchases of $250 and more, you will have up to six months paying no interest. Six months is a good long time to clear bigger purchases such as these, as long as you keep tabs on your spending, and don’t spend more than you can pay back.
- On purchases made at participating Lombard retailers, you can take advantage of interest free periods up to 48 months. While minimum purchase amounts and certain conditions apply according to the retailer, this could offer an easy way to access interest free finance, paid off over a period of up to two years.
Let’s look at little closer at that last option now. By checking out the Lombard site, you will find a huge range of Lombard retailers to choose from. Some of the bigger names include IKEA and Flight Centre, but there really is a lot of options on offer.
When it comes to big ticket items like furniture and holidays, this feature could really come in handy, letting you buy or book what you want now, to pay it off over the interest free period.
What’s not so great...
This is a card that focuses on its interest free offers, which means there really isn’t much going on elsewhere. No rewards and no fancy features. It’s also worth bearing in mind that, as with most other cards, the Lombard 180 Card comes with an annual fee, so this annual fee should be taken into account when calculating the savings it offers overall.
The card also happens to have one of the highest purchase rates in the market. This shouldn’t be a problem as long as you pay off your purchases before they start accruing interest. However, it’s not a card that you want to carry a balance on if that balance is accruing interest.
Why should you choose this card?
If you want to take advantage of interest free finance that is flexible and easy to understand, the Lombard 180 Card could be the card for you. You can use it again and again to make interest free purchases, which could save you a significant amount in interest, especially on more expensive items and holidays.
In saying that, this card does require a certain level of commitment. You would need to use the card’s online account access and statements to track each purchase and make sure you pay off each one before it starts accruing interest. If you let a purchase lapse over its interest free period, the interest will start to stack up pretty quick.
Allowing cardholders to save on interest in a number of ways, the Lombard 180 Card offers interest free periods on purchases big and small, plus 0% p.a. on balance transfers for six months.