The Lloyds World Elite Mastercard gives unlimited airport lounge access and Fast Track security passes for up to two cardholders. But is the card worth the £15 monthly fee?

Lloyds World Elite Mastercard Credit Card Review

The Lloyds World Elite Mastercard doesn’t sit neatly within a credit card category. While the card includes two valuable travel perks, it shouldn’t be considered a ‘Travel Credit Card’ as there's a hefty (and surprising) 2.95% fee on all overseas transactions. (If you’re looking for a card for cheap overseas use, see our list of Top travel credit cards.)

So while you probably won't want to spend on this card abroad, if you're interested in unlimited airport lounge access and Fast Track airport security, then the Lloyds World Elite Mastercard could be for you.

Launched at the tail end of 2023, the Lloyds World Elite Mastercard gives all cardholders Prestige Priority Pass membership. This provides unlimited access to over 1,500 airport lounges around the world, allowing you to indulge in free food and drinks prior to taking off. This 'Prestige' membership tier currently retails for £419 per year on the Priority Pass website, so the £15 monthly cost (£180/yr) is clearly good value in this regard. As an added boon, Lloyds World Elite customers can add a secondary cardholder to their account who will also get a Priority Pass membership of their own. This means for £15 per month, two individuals can essentially enjoy unlimited airport lounge access at a steep discount.

In addition, the Lloyds World Elite Mastercard also throws in unlimited Fast Track passes as part of its tie-up with DragonPass which presents a nifty way to skip those annoying airport security queues. The passes currently retail for around £5-6 a pop and, while not all airports participate in the scheme, you may still consider it a decent perk if you travel a few times a year. (UK airports currently participating in Fast Track include Aberdeen, Glasgow, Newcastle, Liverpool, Manchester, Gatwick, Luton, and Southampton.)

Besides these two travel perks, it's worth knowing that there isn’t much else to shout about with this Lloyds card. While you do earn cashback on purchases, (0.5% cashback up to £15,000, 1% over £15,000), there are more generous offerings out there — even on cards without a fee. If you’re looking for money back on everyday spends, consider exploring our list of the best cashback credit cards instead.

That being said, if you travel overseas more than a handful of times a year, and you don’t already have lounge access via status with a particular airline, then you may consider the included travel perks as a good enough reason to apply for the card — especially if you’ve a trusted partner to share the benefits.

The interest rate is high

If you spend on the Lloyds World Elite Mastercard then do note there’s no interest-free period. This means if you fail to clear your balance in full by the end of the month you’ll be stung with hefty interest. The card has a 22.94% representative APR on purchases (55% rep APR including the fee).

Are you eligible?

Because this card doesn’t have a 0% period, it’s not for those who won't pay off their card in full each month.

However, as long as you know you will pay off your balance in full each month and you’re interested in applying, then its worth using the eligibility checker on the Lloyds website. This is because Lloyds' checker will allow you to check your chances of acceptance without having to undergo a ‘hard’ credit search.

Plus, if you use Lloyds’ eligibility checker, you could be pre-approved for the card. Pre-approval means you’ll definitely get accepted if you go on to apply (subject to passing ID checks).

Of course, if you do go on to apply after being preapproved, you will then undergo a hard credit search. See: 'Hard' v 'Soft' credit searches.

How much the card could save you

If you’d use the included travel perks, then the Lloyds World Elite Mastercard could save you a pretty penny. Here’s an overview of how much you could save compared with purchasing the included travel perks separately.

Credit Limit

The credit limit you're offered may vary depending on your credit score. If you use Lloyds’ eligibility checker, then you’ll get an estimate of your likely credit limit before you apply. Remember: Always stick within your credit limit. If you exceed it a mark could be placed on your credit file which could impact your future creditworthiness.

Bottom Line: If you’d make good use out of the Priority Pass membership & Fast Track airport security then you may consider the monthly £15 fee for the Lloyds World Elite Mastercard as a good deal. Beyond these perks, however, there’s not a lot else going for the card. As mentioned above, the cashback rate on this card disappoints, as does the high cost of using the card overseas. All-in-all, for a niche group of travellers the Lloyds’ card is an attractive proposition but for the majority of individuals seeking a perk-heavy credit card, better deals are available.

Lloyds World Elite Benefits & Features

Customer Reviews

Is the Lloyds World Elite Mastercard a good card? Let's look at some customer reviews from Trustpilot, where over 4,200 customers have collectively awarded Lloyds a disappointing 1.7 out of 5 stars — though this score applies to the wider Lloyds Banking Group, rather than an individual credit card product.

That said, these real customer comments can give you a glance into life with a Lloyds card, such as the quality of its customer service, and usability of its mobile app.

"I've been with Lloyds Bank since I left home nearly 40 years and never had a problem with them. They have always been helpful"

"The banks way of dealing with things and the people on the front desk and more miserable than some of the members of the public. Horrible service I dont know why I chose this bank!! Would give 0 if i could for customer service.”

"Have been with Lloyd's for around 15 years now. Never had a problem, either in branch, with the app or with customer service centre. Always very helpful, friendly,and they seem to actually care and want to resolve any problems and queries. The app is great, no issues and they're very security-conscious, which is so important these days. Would recommend."

"I had a problem with a charitable donation to an organisation abroad which unfortunately blocked my card. It was flagged up as a potential security issue. I rang their support number and the problem was sorted out very efficiently and promptly much to my relief."

How does the Lloyds World Elite Compare to Other Credit Cards?

The Halifax World Elite Mastercard — part of the Lloyds banking group — is essentially the same card as the Lloyds card, albeit with different branding. Here’s how these cards stack up against the competition...

Lloyds Card vs HSBC Premier World Elite

The HSBC Premier World Elite is reserved for HSBC’s Premier and Private Banking Account customers. The card has a £195 annual fee.

To qualify for the HSBC’s Premier current account, you need to have an individual annual income of at least £75,000 and a HSBC mortgage, investment, life insurance, or protection product. Alternatively, you need to have savings or investments of at least £50,000 with HSBC UK.

Tick either of those boxes and you’ll then be able to apply for the HSBC Premier World Elite Mastercard. The card gives free Priority Pass prestige membership and Fast Track security access. While the card doesn’t offer any cashback, you can earn 40,000 ‘reward points’ if you spend £2,000 within 90 days of getting your card. You also get a further 40,000 points if you spend £12,000 or more on your card within your first 12 months. You earn 2 points for every £1 of ‘eligible spends’ in pounds sterling.

To give you an idea of how much these points are worth, HSBC says 100 points equals £1. (You can find more information on reward points on the HSBC website.)

It’s worth knowing the HSBC World Elite Mastercard charges a 2.99% fee on foreign currency transactions. The rep APR on this card is 18.9% (59.3% rep APR including the fee).

Quick Takeaway: While the exclusively of the HSBC World Elite makes it something of a status symbol, there’s not much to separate it from the more openly available Lloyds World Elite Mastercard. The card has a disappointing 2.99% fee on overseas transactions. Meanwhile, it’s annual £195 fee works out to be more expensive than other cards in this market. There’s also no cashback to speak of, though some cardholders may take advantage of the reward points offering.

Lloyds Card vs Santander World Elite

The Santander World Elite Mastercard is similar to Lloyds’ offering. The card has a £15 monthly fee and gives the same Fast Track security benefits. The card also offers free airport lounge access through ‘LoungeKey’, which is a sister to Priority Pass. In addition the card pays 0.5% cashback on purchases, up to £3,000 per month, plus free ‘Boingo’ Wi-Fi access through global hotspots.

Interestingly, the card won’t charge you for making transactions in a foreign currency which is a nice bonus.

The main drawback of this card, however, is the eligibility requirements. While the Lloyds World Elite Mastercard is open to pretty much anyone with a decent credit score — including to non-Lloyds customers — the Santander World Elite maintains an allure of exclusivity.

You see, the Santander World Elite is only available to those who have private banking with Santander, or and have joined Santander Select. To join Santander Select, you need to be pay at least £5,000 per month a Santander current account, or keep £75,000 in any Santander investment(s), savings or current account.

This card has 18.9% rep APR on purchases (49.8% rep APR including the fee).

Quick Takeaway: If you’re already a Santander Select customer, then there really isn’t a lot to choose between the Lloyds and Santander World Elite offerings besides the fact that Santander’s card allows you to spend on it fee-free overseas. However, if you aren’t already a Santander Select customer, then there's probably little reason to opt for this card.