Lloyds Bank has launched a new credit card, the World Elite Mastercard. With the new card customers will earn cashback on every card purchase made, alongside enjoying a number of travel benefits. This comes for a £15 monthly fee.

Customers will earn 0.5% cashback on each card purchase up to and including £15,000. When total card spending reaches over £15,000, each card purchase will earn 1% cashback, until the anniversary of account opening. At the account anniversary, card purchases will revert to 0.5% cashback. Once total card spending reaches £15,000, 1% cashback will be earned again. The cashback will be paid into the account each month.

Travel perks of the World Elite Mastercard

World Elite Mastercard customers will also receive travel related benefits. User will have ccess to over 1,300 airport lounges. This includes lounges at London Heathrow, Edinburgh International, Orlando International, Dubai International and many more, through Priority Pass. Cardholders will be able to skip airport security queues and upgrade their airport security experience at participating airports. Additionally, users will have direct access to Mastercard’s priceless.com experiences and content in the UK and around the world.

World Elite Mastercard also provides one additional cardholder with all the card benefits at no extra cost. Any cashback earned by the additional cardholder will be added to the main cardholder’s running total, which will be included in the monthly cashback payment made to the account. The main cardholder will be able to view or manage their card and travel benefits through online banking and the mobile app.

Marc Lien, Credit Cards Director at Lloyds Bank, said: “Our new World Elite Mastercard offers cashback on every card purchase. No matter how big or small the purchase is.  This is alongside great benefits for travellers, including the luxury of skipping airport security queues and access to over one thousand airport lounges worldwide. Meaning people can relax ahead of their flight.”

Simon Forbes, Senior Vice President, Account Management at Mastercard, commented: “Whether it’s enjoying an airport lounge, treating themselves to a Priceless experience, or saving money with exclusive offers, cardholders can choose from a range of benefits with this new card. We’re excited to team up with Lloyds Bank to offer its customers valuable rewards, from everyday luxuries to truly unique experiences.”