The imaginatively-named NatWest Credit Card is a handy card to carry both at home and abroad – having low rates, no annual fee and no fees for foreign transactions.
NatWest Credit Card review
By Chris Lilly
- Representative example:
- When you spend £1,200 at a purchase rate of 12.9% (variable) p.a., your representative rate is 12.9% APR (variable).
- Balance transfer fee
- 0%
- Foreign transaction charge
- 0%
- Account fee
- £0
Our verdict
Keep your interest rates low and avoid fees when travelling with the NatWest credit card.A very respectable option for people who don't really want to have to think about their credit card, this deal is all about versatility and value over the long run.
You won't find any headline-grabbing introductory 0% deals here – which is great if you don't want the hassle of having to remember to switch cards after an introductory offer expires. Instead, this card comes with ongoing low (albeit variable) rates on purchases and balance transfers.
The downside of this is that if you're transferring a balance or anticipating a large upcoming expenditure (or both), there are undoubtedly cheaper deals out there. Similarly, if you're all about the rewards and perks, there are more specialised cards available on the market.
If you already have outstanding debt on a card elsewhere, there's no fee to bring it across to NatWest. However, it'll start accruing interest straightaway, so if you don't anticipate clearing it sharpish, consider a 0% balance transfer deal instead.
Perhaps the biggest selling point of this card is the fact that there are no fees for using it abroad – currencies are converted at the standard Mastercard rates – making it a hard-to-beat longer-term bet for use at home and on holiday.
Pros
-
No foreign transaction fees for purchases abroad
-
Low interest rate on purchases
-
No annual fee
Cons
-
3% (min. £3) fee applies to cash withdrawals
-
Interest will be charged on cash withdrawals from the date of the transaction, even if you pay off your balance in full
-
Interest will apply to purchases if you don’t clear your balance each month
Details
Product Overview
| Issuer | NatWest |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 12.9% |
| Balance transfer fee | 0% |
| Purchases | 12.9% |
| Purchases interest-free period | Up to 56 days |
| Money transfers | 26.9% |
| Cash advances | 26.9% |
| Minimum credit limit | £250 |
| Maximum credit limit | Subject to status |
| Additional cards available | 3 |
| Potential costs | 4.5 ★★★★★ |
| Doing its job | 5.0 ★★★★★ |
| Extras | 1.5 ★★★★★ |
| Overall Finder score | 4.5 ★★★★★ |
What are the fees and charges for the NatWest Credit Card?
| Minimum monthly payment | 1% or £5 (whichever is greater) or the total of any interest, default fees and charges, 1/12th of annual fee plus 1% of the outstanding balance or double the amount of that month's interest and any default charges, plus any instalment plan fee(s), plus £1. |
| Annual/monthly fees | £0 |
| Balance transfer fee | 0% |
| Money transfer fee | 0% |
| Foreign usage charge (EU) | 0% |
| Foreign usage charge (rest of world) | 0% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £12 |
| Duplicate statement fee | £3 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
What are the application requirements for the NatWest Credit Card?
| Minimum Age | 18 |
| Minimum income | £10,000 |
| Availability | Available to new customers |
The NatWest Credit Card is issued on the Mastercard network so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
Repayment options
You can make manual repayments through NatWest's app by logging in to your online banking or over the phone (0345 788 8444). 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, getting hit with a penalty fee (£12) or losing any promotional rates as a result.
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 NatWest Credit Card
If you've compared cards and settled on the NatWest Credit Card, you can head over to NatWest's secure online application to apply. Don't forget, you'll need to be over 18 and a UK resident to apply, with an income of at least 10000.
Frequently asked questions
What credit limit will I get with the NatWest Credit Card?
If NatWest offers you this deal, it will specify a personalised credit limit based on NatWest's assessment of your situation. The minimum limit offered on this card is £250, and NatWest does not specify a maximum. Once you've had the card for a while and shown NatWest you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the NatWest 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 NatWest 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 26.9%, which is 109% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
How long does it take to receive the card?
You’ll know whether your application has been approved within 5 minutes of submission. As long as it’s approved, NatWest states your shiny new card will be with you in 5–7 working days.
Do I need to be an existing NatWest customer?
No, this card is now available to new customers.
Will I pay fees on cash withdrawals overseas?
Yes. While NatWest doesn’t charge a fee for non-sterling transactions using this card, withdrawing cash abroad will incur a fee, (and the ATM owner may add its own fee on top too). Find out more about using a credit card overseas.
How do I change my credit card limit?
You can do this through the internet or mobile banking by selecting “Cards” from the main menu. In the “Manage your personal credit card” section, select “Manage your credit card limit”. Add your annual income, requested credit limit and the last 5 digits of your card. Finally, select “submit”. Alternatively, you can call a customer advisor (0345 788 8444).
Finder credit card scores
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts score low rate credit cards to determine their value against similar products on the market. We look at a number of important factors, like exactly how low the low rate is, any perks/benefits, 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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