In this guide

  • Our verdict
  • Details
    • Product overview
    • Fees and charges
    • Application requirements
  • Your reviews

Coutts & Co Silk Credit Card review

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Coutts & Co Silk Credit Card Mastercard
3.0
★★★★★
Finder score
Representative example:
When you spend £1,200 at a purchase rate of 19.99% (variable) p.a., your representative rate is 20% APR (variable).
Foreign transaction charge
0%
Account fee
£0
Interest-free each billing period
Up to 46 days

Our verdict

Enjoy luxurious gifts and 24/7 expert advice for your travels with this VIP credit card.

A private bank known for its three-century-long history and for being used by the British Royal Family, Coutts isn't exactly your average financial institution.

However, if you are lucky enough to be part of Coutts' exclusive club of customers, this credit card's impressive series of perks is within your reach.

While "gold" credit cards usually charge expensive annual fees that are balanced out by generous reward programmes and wide ranges of perks, Coutts Silk Credit Card comes for free and sticks to high-quality services and luxurious gifts.

Especially suitable for frequent travellers, this card's benefits include fee-free spending abroad, LoungeKey access and the opportunity to get a series of gift cards to spend in flights, hotels, experiences, food and drink and more.

Coutts' Concierge Team will advise you and solve problems for you 24 hours a day, be it to deal with accommodation and car hire or to book exclusive dinner reservations and theatre tickets.

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

In this guide

  • Our verdict
  • Details
    • Product overview
    • Fees and charges
    • Application requirements
  • Your reviews

Details

Product overview

Issuer Coutts & Co
Network Mastercard
Representative APR 20% APR (variable)
Annual/monthly fees £0
Additional Rewards Info Thank You From Coutts - as spending increases cardholders automatically become eligible for a choice of gifts.
Lounge access Membership to LoungeKey, access to over 1100 airport lounges worldwide. Charged at £24 per person per visit.
Purchases 19.99%
Purchases interest-free period (days) 46
Potential costs 3.5 ★★★★★
Doing its job 2.5 ★★★★★
Extras 3.5 ★★★★★
Overall Finder Score 3.0 ★★★★★

Fees and charges

Minimum monthly payment 5% or £5 (whichever is greater) or the total of any interest, default fees and charges plus 5% of the outstanding balance.
Annual/monthly fees £0
Foreign usage charge (EU) 0%
Foreign usage charge (rest of world) 0%
Cash advance fee 3% (min. £3)
Late payment fee £0
Duplicate statement fee £4
Exceeding limit fee £0
Additional card fee £0
Dormancy fee £0

Application requirements

Minimum Age 18
Availability 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.
1 - 3 of 3
Name Product Finder score Finder score Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
American Express® Preferred Rewards Gold Credit Card
4.0
★★★★★
★★★★★
Expert analysis
31%
Year 1 - £0, Year 2 onwards - £195 per annum
Min. limit £700, max. limit not specified.
88.8% APR (variable)
New Cardmembers earn 20,000 Membership Rewards® Points when you spend £3,000 in the first 3 months of Cardmembership. T&Cs Apply. UK 18+, subject to status. Get 20% cashback at 1,000+ restaurants until 19 May 2024.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £195 per annum, your representative rate is 88.8% APR (variable).
Check eligibility
British Airways American Express® Premium Plus Card
4.0
★★★★★
★★★★★
Expert analysis
31%
£300 per annum
Min. limit £700, max. limit not specified.
139.9% APR (variable)
Welcome offer: Earn 25,000 bonus Avios when you spend £3,000 in your first 3 months of Cardmembership. Terms apply. 18+, subject to status. New Cardmembers only.
Representative example: When you spend £1,200 at a purchase rate of 31.0% (variable) p.a. with a fee of £300 per annum, your representative rate is 139.9% APR (variable).
Check eligibility
The Platinum Card® by American Express
4.0
★★★★★
★★★★★
Expert analysis
31.0%
£650 per annum
Min. limit £700, max. limit not specified.
704.6% APR (variable)
New Cardmembers earn 40,000 Membership Rewards® Points when you spend £6,000 in the first 3 months of Cardmembership. T&Cs Apply. UK 18+, subject to status.
Representative example: When you spend £1,200 at a purchase rate of 31.0% (variable) p.a. with a fee of £650 per annum, your representative rate is 704.6% APR (variable).
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.
1 - 3 of 3
Name Product Finder score Finder score Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
American Express® Rewards Credit Card
3.9
★★★★★
★★★★★
Expert analysis
31%
£0
Min. limit £500, max. limit not specified.
31% APR (variable)
Earn 1 Membership Rewards® point for every £1 spent thereafter. Earn up to 90,000 bonus points per year through refer a friend, 4,000 points awarded for every friend approved. 1 point = 0.45p (min 1,000 points) to shop, other rewards have differing conversions.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a., your representative rate is 31% APR (variable).
Check eligibility
American Express® Nectar Credit Card
3.8
★★★★★
★★★★★
Expert analysis
31%
Year 1 - £0, Year 2 onwards - £30 per annum
Min. limit £700, max. limit not specified.
37.8% APR (variable)
New welcome offer: Earn 20,000 bonus Nectar points when you spend £2,000 in your first 3 months. Earn a minimum of 3 Nectar points for virtually every £1 spent at Nectar partners, and 2 Nectar points for virtually every £1 spent elsewhere.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £30 per annum, your representative rate is 37.8% APR (variable).
Check eligibility
American Express® Preferred Rewards Gold Credit Card
4.0
★★★★★
★★★★★
Expert analysis
31%
Year 1 - £0, Year 2 onwards - £195 per annum
Min. limit £700, max. limit not specified.
88.8% APR (variable)
New Cardmembers earn 20,000 Membership Rewards® Points when you spend £3,000 in the first 3 months of Cardmembership. T&Cs Apply. UK 18+, subject to status. Get 20% cashback at 1,000+ restaurants until 19 May 2024.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £195 per annum, your representative rate is 88.8% APR (variable).
Check eligibility
loading
With an American Express cashback card you’ll be able to enjoy cashback on almost everything you purchase.
1 - 2 of 2
Name Product Finder score Finder score Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
Amex® Cashback Everyday Credit Card
3.8
★★★★★
★★★★★
Expert analysis
31%
£0
Min. limit £700, max. limit not specified.
31% APR (variable)
Welcome offer: Get 5% cashback on your purchases (up to £100) for the first 3 months of Cardmembership. Terms and minimum spend apply. 18+, subject to status.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a., your representative rate is 31% APR (variable).
Check eligibility
Amex® Cashback Credit Card
3.7
★★★★★
★★★★★
Expert analysis
31%
£25 per annum
Min. limit £700, max. limit not specified.
36.7% APR (variable)
Welcome offer: Get 5% cashback on your purchases (up to £125) for the first 3 months of Cardmembership. Terms apply. Spend £0 to £10,000 and receive 0.75% cashback on all purchases. Spend over £10,000 and receive 1.25% cashback on purchases.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a. with a fee of £25 per annum, your representative rate is 36.7% APR (variable).
Check eligibility
loading
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.
1 - 3 of 3
Name Product Finder score Finder score Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
British Airways American Express® Credit Card
4.0
★★★★★
★★★★★
Expert analysis
31%
£0
Min. limit £700, max. limit not specified.
31% APR (variable)
Earn 5,000 points when you spend £1,000 within 3 months of account opening. Terms apply. UK 18+, subject to status. Earn 1 Avios for virtually every £1 spent.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a., your representative rate is 31% APR (variable).
Check eligibility
American Express® Preferred Rewards Gold Credit Card
4.0
★★★★★
★★★★★
Expert analysis
31%
Year 1 - £0, Year 2 onwards - £195 per annum
Min. limit £700, max. limit not specified.
88.8% APR (variable)
New Cardmembers earn 20,000 Membership Rewards® Points when you spend £3,000 in the first 3 months of Cardmembership. T&Cs Apply. UK 18+, subject to status. Get 20% cashback at 1,000+ restaurants until 19 May 2024.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £195 per annum, your representative rate is 88.8% APR (variable).
Check eligibility
British Airways American Express® Premium Plus Card
4.0
★★★★★
★★★★★
Expert analysis
31%
£300 per annum
Min. limit £700, max. limit not specified.
139.9% APR (variable)
Welcome offer: Earn 25,000 bonus Avios when you spend £3,000 in your first 3 months of Cardmembership. Terms apply. 18+, subject to status. New Cardmembers only.
Representative example: When you spend £1,200 at a purchase rate of 31.0% (variable) p.a. with a fee of £300 per annum, your representative rate is 139.9% APR (variable).
Check eligibility
loading

Repayment options

You can make manual repayments through Coutts & Co's app by logging in to your online banking or over the phone (020 7753 1000). Alternatively, you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and either damaging your credit score, or losing any promotional rates as a result (although there's no penalty fee for late payments to worry about, there are still plenty of other good reasons not to miss a payment).

You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply for the Silk Credit Card

Coutts is well-known for the high standards it sets to accept new customers. If you try to apply online, you'll be asked about your annual income and total assets, and if you don't have either a £1 million to invest or an annual income of at least £500,000, you'll just get a message that suggests an alternative banking option.

If you do manage to become a customer and you can't wait to have Coutts Silk Credit Card in your wallet, you can speak to your financial adviser or call Coutts' customer service.

Frequently asked questions

Can I withdraw cash using the Coutts & Co Silk Credit Card?

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 & Co Silk Credit Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.

The interest rate on this part of your balance will be 19.99% (chargeable from the day of the transaction – the card's usual "up to 46 days interest-free" grace period won't apply).

What is the minimum payment on the Coutts & Co Silk Credit Card?

Each month, you must pay at least 5% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £90.00 outstanding, you'd pay £5.00, and if you had £400.00 outstanding, you'd pay £20.00.

Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money, which can lead to persistent debt.

Finder credit card scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our experts score rewards credit cards to determine their value against similar products on the market. We look at a number of important factors, like welcome bonuses, introductory and ongoing earn-rates, any caps or restrictions on the points you can earn, plus the potential costs involved with running the card both in the short and longer term.

You can read more about our scoring criteria on our credit card methodology page.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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