LV credit cards are issued by Clydesdale Bank and come with rewards tied to shopping and cashback
LV (Liverpool Victoria) credit cards are products from Clydesdale Bank, a UK-based lender. The cards are marketed primarily to existing LV insurance customers, though you do not need to be an insurance customer to open one. Most LV cards offer cashback on purchases, with rates that vary depending on which card you hold and how you use it.
The main appeal is the connection to the LV rewards program, which lets you earn points or cashback on everyday spending. Unlike some credit cards that charge an annual fee, most LV cards have no annual cost. However, the interest rate you receive depends on your credit history — the better your credit score, the lower your rate is likely to be.
Key Takeaways
- LV credit cards are issued by Clydesdale Bank and typically offer cashback or rewards on purchases, with no annual fee on most products.
- The interest rate you are offered depends on your credit score and personal circumstances, so rates vary between cardholders.
- You can check your current card's terms, rewards rate, and balance by logging into your LV online account or calling their customer service number.
- If you want to switch to a different LV card or close your account, you can do this through your online account or by contacting LV directly.
- Missed payments or late payments on an LV card will affect your credit score and may result in additional interest charges or fees.
How LV rewards and cashback work on your card
When you use your LV credit card to make a purchase, you earn cashback or points depending on your specific card. The cashback rate is usually a small percentage of what you spend — this varies by card type and by category (for example, some cards offer higher cashback on groceries or fuel). The cashback is either credited to your account automatically or you can redeem it manually through your online account.
Points work differently: instead of a cash amount, you accumulate points that you can later exchange for rewards such as discounts, vouchers, or products. The exchange rate depends on what reward you choose. Some LV cards let you convert unused points into cashback at the end of the year if you prefer.
Cashback and points are only earned on purchases you make with the card — they do not explore to balance transfers, cash withdrawals, or fees. If you pay interest on a balance, the cashback you earn does not offset that interest, so it is worth paying off your balance in full each month if you can.
Understanding your interest rate and APR
Your LV credit card comes with an Annual Percentage Rate (APR), which is the cost of borrowing money expressed as a yearly percentage. This rate is not the same for every cardholder — it depends on your credit score, income, employment status, and other factors that Clydesdale Bank assesses when you explore.
The APR you see in the product information is called the representative APR. By law, at least 51% of people who are approved for the card must receive that rate or better. You may receive a higher rate if your credit history suggests higher risk. You can find your personal APR in your card agreement or by logging into your online account.
Interest is charged only on balances you carry from month to month. If you pay your full statement balance by the due date each month, you pay no interest. If you pay only part of the balance, interest is charged on the remaining amount from the day after your statement date until you pay it off.
How to manage your LV card account online
You can view your balance, make payments, and check your rewards through the LV website or mobile app. To log in, you will need your card number and your online banking password. If you have not set up online access yet, you can register on the LV website using your card details.
Through your online account, you can set up automatic payments so your bill is paid on the same date each month. You can also view your transaction history, read statements, and update your contact details. If you want to redeem cashback or points, most cards let you do this directly through the app or website.
If you have questions about your account or cannot access your online account, you can call LV's customer service number, which is on the back of your card and in your statements. They can help you with payments, rewards questions, or changes to your account.
What happens if you miss a payment
If you miss a payment or pay late, LV will charge you a late payment fee (the amount varies depending on your card terms). More importantly, a missed or late payment is recorded on your credit file and will lower your credit score. This can make it harder to borrow money in the future and may result in higher interest rates on other credit products.
If you are struggling to make a payment, contact LV as soon as possible. They may be able to work out a payment plan or temporarily reduce your payments. The sooner you contact them, the more options you may have. Ignoring the problem will only make it worse.
If your account falls significantly behind (usually after three months of missed payments), LV may take legal action to recover the debt, which could result in a court judgment against you. This has serious consequences for your credit score and your ability to borrow.
Switching to a different LV card or closing your account
If you want to switch to a different LV credit card product, you can request this through your online account or by calling customer service. Switching to a new card will involve a new credit check, and you may be offered a different interest rate. Your old card will be closed once the new one is activated.
If you want to close your LV card account, you should first pay off any remaining balance. Once the balance is zero, you can request closure through your online account or by calling customer service. They will confirm the closure in writing. After closure, you should destroy your card to prevent misuse.
Closing a credit card can affect your credit score in the short term because it reduces the total amount of credit available to you. However, if you are paying interest on the card, closing it and paying off the balance will save you money in the long run.
Protecting your LV card from fraud and misuse
Keep your card number, expiry date, and the three-digit security code (CVV) private. Never share these details by email or phone unless you initiated the contact and are certain you are speaking to LV. LV will never ask you for your full card number or security code by email or phone.
Check your statement regularly — at least once a month — to spot any transactions you do not recognize. If you see a fraudulent transaction, report it to LV when ready. By law, you are not liable for unauthorized transactions if you report them promptly, though you may need to provide evidence that you did not make the purchase.
If your card is lost or stolen, call LV right away to have it blocked. They can issue a replacement card, usually within 5 to 10 working days. In the meantime, you can still manage your account online.
Frequently Asked Questions
Can I use my LV card abroad?
Yes, you can use your LV card in most countries. However, you will be charged a foreign exchange fee (usually a percentage of the transaction) when you spend in a currency other than pounds sterling. Some LV cards offer better rates abroad than others, so check your card terms. Always tell LV if you are traveling so they do not block your card for security reasons.
What is the difference between a credit card and a debit card?
A credit card borrows money from the bank, which you repay later. A debit card takes money directly from your bank account. With a credit card, you build a credit history and can earn rewards, but you pay interest if you do not pay the full balance. With a debit card, you spend only what you have and pay no interest, but you do not build credit history.
How do I know if my LV card has been compromised?
Watch for transactions on your statement that you do not recognize, unexpected declines when you try to use the card, or calls from LV about suspicious activity. You may also receive a text or email from LV alerting you to unusual spending. If you suspect fraud, call LV when ready — the number is on your card.
Can I increase my credit limit?
You can request a credit limit increase through your online account or by calling customer service. LV will perform a credit check to decide whether to approve the increase. A higher limit gives you more borrowing power but does not mean you should spend more — only borrow what you can afford to repay.
What should I do if I cannot afford my monthly payment?
Contact LV as soon as possible before your payment is due. They have hardship programs and may be able to reduce your payment temporarily, freeze interest, or work out a repayment plan. The earlier you reach out, the more options you will have. Waiting until after you miss a payment makes the situation harder to resolve.