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Providing an alternative payment solution to Australian households, Lombard offers a selection of card options that could help cardholders save on interest when making purchases large and small.
With two main products on offer – the Lombard 180 Card and the Lombard 55 Card – Lombard provides a simple, straightforward way for cardholders to finance their lifestyle, with enticing interest-free terms available.
Lombard is provided by Flexicards Australia Pty Ltd, and was established in 2004, as part of the ASX listed FlexiGroup Limited Group. Another name you may have heard of under the FlexiGroup umbrella is FlexiRent, which allows consumers to choose products in-store and rent them over a specified period of time.
With plenty of experience offering consumers alternative ways to enjoy the household and lifestyle purchases they want, Lombard may just be the right choice for you.
Lombard sets itself apart from its competition by offering cardholders many of the standard benefits of having a credit card, while also providing the opportunity to save on interest.
So, how does it all work?
If you decide a Lombard card is the right choice for you, here’s what you need to do.
Apply online for a quick response.
Use your card anywhere Visa is accepted, online or in-store.
Depending on the card you opt for, the purchase you make, or the retailer you choose, you could save on interest with an interest free period or interest free term.
You can manage your card and your payments, with 24/7 online access and easy-to-read statements.
One of the most appealing aspects of a Lombard card is the ability to save money with an interest free term when shopping at Lombard retailers.
Lombard has a network of leading retailers that offer a range of interest free terms, where you can buy anything from your perfect kitchen to your dream holiday.
If you’re thinking of buying something for the home, you may find what you need at IKEA, Focus On Furniture & Bedding or Nick Scali. Something for the yard? Perhaps you’ll find it at Fujitsu, Husqvarna or Ranbuild.
Dreaming of a holiday overseas? Lombard’s retailers within the travel industry could get you there, whether that’s Flight Centre or Escape Travel, Student Flights or Cruise About, My Adventure Travel or Travel Associates.
If you have something specific in mind, be sure to check the list of Lombard retailers in your area to find out what’s on offer near you, and what interest free terms they provide.
As these cards feature the Visa logo, you know you can use your Lombard card in much the same way as any other Visa card you have in your wallet.
You can use your Lombard card anywhere Visa is accepted, whether that’s in Australia or overseas, whether you’re shopping in-store or online. Whether you want to buy a coffee in San Francisco or a jar of coffee in your local supermarket, your Lombard card can help you cover the cost.
So, now you know the basics of how Lombard cards work, it’s time to dig a little deeper to find out exactly what each Lombard card offers.
With six months interest free on purchases over $250, the Lombard 180 Card could save you heaps in interest. But, what else do you need to know?
When you make a purchase of $250 or more in one transaction on your Lombard 180 Card, you can benefit from six months interest free. That could give you a nice long period to pay off your purchase without having to worry about interest.
For purchases less than $250, you could enjoy up to 55 days interest free. To be eligible for this, you must pay, by the payment due date, the amount identified in your statement as the ‘optional repayment to qualify for up to 55 days interest free'.
It’s also worth bearing in mind that not every purchase under $250 will qualify for the full 55 days interest free. The number of interest free days will depend on how far through the statement cycle the purchase is made. Check the terms and conditions for more on this.
When using the Lombard 180 Card at participating Lombard retailers, you could enjoy up to 48 months interest free. Keep in mind that there may be a minimum purchase required, and conditions may apply.
The promotional terms available may vary per Lombard retailer, so to find out more about this, check the Lombard site for a full list of Lombard retailers – and exactly what they offer.
One thing we will stress to potential cardholders is the card’s high standard rate of interest attached to purchases and cash advances. While this card may offer you the opportunity to save on interest with interest free terms, you must pay off the balance before interest starts accruing to avoid expensive interest charges.
As with most credit cards, the Lombard 180 Card charges an annual fee and a variety of other fees. These include a fairly hefty late payment fee and a 3% international transaction fee, so keep those in mind when using the card – and be sure to avoid all unnecessary fees whenever possible.
The Lombard 180 Card has a relatively affordable annual fee. As a cardholder, you just need to work out whether you are getting more back – perhaps in interest saved – than you are paying out in annual fees.
Working in much the same way as the Lombard 180 Card, the Lombard 55 Card offers up to 55 days interest free on purchases, and up to 48 months interest free when using the card at participating Lombard retailers.
Note, with this card, you do not get six months interest free on purchases of $250 and over.
When using the Lombard 55 Card, you can benefit from up to 55 days interest free on purchases, depending on the date of the purchase and how far through the statement cycle it is made.
To take advantage of this interest free offer, you must pay, by the payment due date, the amount identified in your statement as the ‘optional repayment to qualify for up to 55 days interest free'.
As with the Lombard 180 Card, this card allows you to save on interest with up to 48 months interest free at Lombard retailers. Before making a purchase, check the list of retailers and any conditions that may apply, as the promotional terms available may vary per Lombard retailer.
It’s also worth paying attention to the standard rate of interest purchases and cash advances attract. Compared to other credit cards, this interest rate is particularly high, so it’s best to pay off all balances before interest starts accruing.
Quite strangely, the Lombard 55 Card has the same annual fee as the Lombard 180 Card. While both cards seem to offer much the same in terms of features, the Lombard 180 Card offers six months interest free on purchases of $250 and more, while the Lombard 55 Card doesn’t.
However, as a potential cardholder, it’s up to you to look at the options on offer – as well as their limitations and benefits – to choose the best card for you. Think about what you actually need from the card, how much you are paying out for it, and whether it offers you the best value.
Unlike some credit cards, which sell themselves on the fancy features they offer, both the Lombard 180 Card and Lombard 55 Card entice cardholders with their ability to save on interest. What this means is both of these cards are not big on extras.
But, if you’re looking for a card that can save you on interest – and you don’t really need any of extras – this shouldn’t really be a problem for you. Here are some of the features you can expect when using the Lombard 180 Card or the Lombard 55 Card.
Still trying to decide whether Lombard is right for you? Here is a run-down of the benefits on offer to Lombard cardholders.
Time to apply! So, what do you need? Applying online is quick and easy. All you need is your:
If Lombard needs any additional information, one of their team members will be in touch.
Then, if your application is approved, sign your contract online using the electronic signature solution, DocuSign, taking advantage of a completely paperless process.
Your welcome pack will be in the mail, followed by your Lombard card, which is issued 5-7 days after the contracts are signed. Your PIN will be sent separately.
To use your card, activate it online and check out the awesome selection of Lombard partner retailers and their interest free terms. Too easy!
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