Coutts and Co Silk Charge Card review 2021

A luxurious charge card with an impressive range of benefits for Coutts' high-net-worth customers.

Finder rating: ★★★★★

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0%

Foreign transaction charge

£0

Account fee

£3,000

Minimum credit limit

Details

IssuerCoutts & Co
NetworkMastercard
Representative APRN/A (this product is a charge card).
Annual/monthly fees£0
Additional Rewards InfoCoutts Concierge service that gives you 24/7 access to expert help and advice, from flight information, tickets, accommodation, car hire, emergency currency lost passports, messaging and interpretation services. Social and leisure arrangements, such as table reservations, chartering a yacht and tickets booking. Sourcing domestic staff. Exclusive online concierge service for bespoke discounts and money can't buy, red carpet experiences across travel, entertainment and dining. Silk membership, offering access to luxury holidays with complimentary experiences, room upgrades, late checkouts and VIP status in selected hotels and VIP shopping experiences. "Thank you from Coutts" available, select a thank you gift once you have spent a specific amount.
Lounge accessAccess to over 700 executive airport lounges in over 300 major airports worldworld. £20 per person per visit.

Review by


Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.

Expert review

One of the oldest banking institutions in Europe, British private bank Coutts serves wealthy and high-profile customers, including the Queen and her family. As you can imagine, joining this exclusive club isn’t exactly easy, but if you are part of it, you can enjoy the perks of this VIP charge card.

Being a charge card, you’re expected to pay your balance in full every month. Provided you do that, you won’t pay any interest on your purchases and also get some flexibility with repayments – purchases at the start of the billing cycle are paid for at the end of the billing cycle. Unlike with most charge cards, you won’t be charged any annual fees.

The benefits are mostly meant for frequent travellers. You can use the card abroad without being charged any extra fees, will get airport lounge access and will be enrolled in Thank You from Coutts – Coutts’ loyalty programme that will reward you with a choice of gifts and experiences if you spend at least £25,000. Coutts also offers a 24/7 concierge service that you can consult anytime for help with a variety of needs – from hotel and dinner reservations to expert advice if you lose your passport.

As this card is on the Mastercard network, it’s accepted in more than 40 million locations worldwide. You’ll also be able to enjoy access to Priceless Cities experiences.

Pros and cons

Pros

  • Avoid currency conversion charges when spending abroad
  • Airport lounge access
  • No annual fee

Cons

  • Applicants with low credit scores are unlikely to be eligible
  • Only available to existing customers

Compare Coutts alternatives

Table: sorted by representative APR, promoted deals first

If (as is the case for most of us) a Coutts credit card is out of your reach right now, there are plenty of cards like Coutts credit cards on the market to make you feel like a VIP. American Express offers an impressive selection of cards catering to all sorts of consumers, all with rewards attached – from lounge access to hotel upgrades.

Much more of a luxury option than your average credit card, premium American Express cards come with perks aplenty. Expect to pay an annual fee, but in some cases this will be waived for the first year.
Name Product Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
American Express Preferred Rewards Gold Credit Card
22.2%
Year 1 - £0, Year 2 onwards - £140 per annum
Min. limit £700, max. limit not specified.
56.6% APR (variable)
New Cardmember offer: Earn 20,000 Membership Rewards® points when you spend £3,000 in your first three months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a. with an annual fee of £140 (£0 in first year), your representative APR is 56.6% APR (variable).
Check eligibility
British Airways American Express Premium Plus
22.2%
£195 per annum
Min. limit £700, max. limit not specified.
74.7% APR (variable)
As a new Cardmember, earn 25,000 bonus Avios when you spend £3,000 in your first 3 months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a. with a fee of £195 per annum, your representative rate is 74.7% APR (variable).
Check eligibility
The Platinum Card
Finder Award
The Platinum Card
N/A (this product is a charge card).
£575 per annum
Min. limit not specified, max. limit not specified.
N/A (this product is a charge card).
As a new Cardmember, earn 30,000 Membership Rewards® points when you spend £4,000 in your first 3 months of Cardmembership.

Check eligibility
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With an American Express reward card you earn points on almost everything you purchase. With pure reward cards, instead of just cashback, you build up points for all the spending you do and these can be exchanged for exclusive rewards including flights, hotels, gift cards and more.
Name Product Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
American Express Rewards Credit Card
22.2%
£0
Min. limit £500, max. limit not specified.
22.2% APR (variable)
As a new Cardmember, earn 5,000 Membership Rewards® points when you spend £2,000 in your first 3 months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a., your representative rate is 22.2% APR (variable).
Check eligibility
The American Express Nectar Credit Card
22.2%
Year 1 - £0, Year 2 onwards - £25 per annum
Min. limit £700, max. limit not specified.
27.3% APR (variable)
As a new Cardmember, earn 20,000 bonus Nectar points when you spend £2,000 in your first 3 months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £25 per annum, your representative rate is 27.3% APR (variable).
Check eligibility
American Express Preferred Rewards Gold Credit Card
22.2%
Year 1 - £0, Year 2 onwards - £140 per annum
Min. limit £700, max. limit not specified.
56.6% APR (variable)
New Cardmember offer: Earn 20,000 Membership Rewards® points when you spend £3,000 in your first three months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a. with an annual fee of £140 (£0 in first year), your representative APR is 56.6% APR (variable).
Check eligibility
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Compare up to 4 providers

With an American Express cashback card you’ll be able to enjoy cashback on almost everything you purchase.
Name Product Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
American Express Platinum Cashback Everyday Card
22.2%
£0
Min. limit £700, max. limit not specified.
22.2% APR (variable)
New Cardmember offer: Get 5% cashback on your purchases (up to £100) for the first 3 months of Cardmembership. Cashback earn rates will change from the 4 August.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a., your representative rate is 22.2% APR (variable).
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American Express Platinum Cashback Card
22.2%
£25 per annum
Min. limit £700, max. limit not specified.
27.3% APR (variable)
As a new Cardmember, get 5% cashback on your purchases (up to £125) for the first 3 months of Cardmembership. Cashback earn rates will change from the 4 August.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a. with a fee of £25 per annum, your representative rate is 27.3% APR (variable).
Check eligibility
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American Express has teamed up with BA to enable you to earn Avios on your day-to-day spending. You can use your Avios to buy flights, hotel stays, car hire and more.
Name Product Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
British Airways American Express Card
22.2%
£0
Min. limit £700, max. limit not specified.
22.2% APR (variable)
New Cardmember offer: Earn 5,000 bonus Avios when you spend £1,000 in your first 3 months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a., your representative rate is 22.2% APR (variable).
Go to site
American Express Preferred Rewards Gold Credit Card
22.2%
Year 1 - £0, Year 2 onwards - £140 per annum
Min. limit £700, max. limit not specified.
56.6% APR (variable)
New Cardmember offer: Earn 20,000 Membership Rewards® points when you spend £3,000 in your first three months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a. with an annual fee of £140 (£0 in first year), your representative APR is 56.6% APR (variable).
Check eligibility
British Airways American Express Premium Plus
22.2%
£195 per annum
Min. limit £700, max. limit not specified.
74.7% APR (variable)
As a new Cardmember, earn 25,000 bonus Avios when you spend £3,000 in your first 3 months of Cardmembership.
Representative example: When you spend £1,200 at a purchase rate of 22.2% (variable) p.a. with a fee of £195 per annum, your representative rate is 74.7% APR (variable).
Check eligibility
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Compare up to 4 providers

How to apply for the Coutts and Co Silk Charge Card

Unsurprisingly, becoming a Coutts customer is quite hard. You can try with a preliminary online enquiry, but if you don't earn at least £500,000 a year or have £1 million worth of assets to invest, you'll just get a message advising you to consider alternative banking options.

Instead, if you already are a Coutts customer, you can simply give them a call or contact your personal adviser. You may want to compare Coutts' charge card and its credit card to make sure you pick the one that best suits your financial needs.

Frequently asked questions

What credit limit will I get with the Coutts and Co Silk Charge Mastercard?

If Coutts & Co is able to offer you this deal, the offer will specify a personalised credit limit based on Coutts & Co's assessment of your situation. The minimum limit offered on this card is £3,000 and Coutts & Co does not specify a maximum. Once you've had the card for a while and shown Coutts & Co that you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the Coutts and Co Silk Charge Mastercard?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.

The cash advance fee on the Coutts and Co Silk Charge Mastercard is 2% (min. £1.5). For example, if you withdraw £50, you'll incur a fee of £1.50. Withdraw £250, and you'll incur a fee of £5.00.

The interest rate on this part of your balance will be .

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