Recently opening up applications to the full market, the Natwest Longer Balance Transfer credit card takes one of the top spots with its 23 month interest-free balance transfer period.
NatWest Longer Balance Transfer Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
- 0% interest on balance transfers
- 23 months
- Account fee
- £0
- 0% interest on purchases
- 3 months
Our verdict
Shift some of your existing debt with Natwest’s longest balance transfer credit card.Now that Natwest has grabbed headlines by taking its cards full market, meaning that you don’t need to be an exclusive member of the Natwest “club” to be eligible, you could enjoy some of the longest 0% balance transfer periods available.
With up to 23 months to transfer your existing debts at a 0% rate and 3 months of interest-free spending, this Natwest card could help you shift your current balance whilst spreading the cost of new purchases.
However, like all balance transfer credit cards, you will only get the most use out of this card if you focus on clearing your current debts and avoiding excessive spending. There are dual credit cards available on the market that offer longer 0% purchase and balance transfer periods for this reason.
On the other hand, if you feel like you will shift your balance before the 23 months, you might be better suited to a no-fee balance transfer credit card, which typically comes with a lesser 0% introductory period. Use our balance transfer credit card guide to compare all your options.
Pros
-
Customers report excellent customer service when dealing with NatWest
-
Over 2 years of 0% interest to focus on reducing existing card debt
-
3 months to spread the cost of purchases
-
No annual fee
Cons
-
Minimum annual income requirement of £10000
-
Balance transfer fee of 3.49%
Details
Product Overview
| Issuer | NatWest |
| Network | Mastercard |
| Representative APR | 24.9% |
| Annual/monthly fees | £0 |
| Balance transfers | 0% for 23 months reverting to 24.9% |
| Balance transfer fee | 3.49% |
| Purchases | 0% for 3 months reverting to 24.9% |
| 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 |
| Incentive | |
| Potential costs | 3.5 ★★★★★ |
| Doing its job | 4.0 ★★★★★ |
| Extras | 4.0 ★★★★★ |
| Overall Finder score | 4.0 ★★★★★ |
Fees and charges
| 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 | 3.49% |
| Money transfer fee | 3% |
| Foreign usage charge (EU) | 2.75% |
| Foreign usage charge (rest of world) | 2.75% |
| 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 |
Application Requirements
| Minimum Age | 18 |
| Minimum income | £10,000 |
| Availability | Available to new customers |
The NatWest Longer Balance Transfer 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.
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 losing your promotional interest rate as a result (as well as damaging your credit score and incurring the late payment fee of £12). You could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 23 to see what you'll need to pay each month (this assumes you don't use the card for additional spending).
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
If you've compared cards and settled on the NatWest Longer Balance Transfer 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. You can request a balance transfer as part of your application.
How does this card compare with other similar cards on the market?
Table: sorted by representative APR, promoted deals first
1 - 5 of 52
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.
Frequently asked questions
What credit limit will I get with the NatWest Longer Balance Transfer 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 Longer Balance Transfer 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 Longer Balance Transfer 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 8% 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).
Can I transfer a balance from another NatWest-branded card to the NatWest Longer Balance Transfer Credit Card?
No. NatWest doesn't accept balance transfers from credit cards issued through the NatWest group, which (as well as NatWest) includes Ulster Bank, RBS and Coutts.
What should I do with my old credit card after transferring the balance to the NatWest Longer Balance Transfer Credit Card?
Transferring a balance doesn't automatically close your old account. In most cases, you'll want to close the old account(s) straightaway, especially if they have an annual/monthly fee or if you might be tempted to use them in the future. There is an argument that you should keep the old account open to help your credit score. That's because doing so keeps your "credit utilisation ratio" lower (that's a measure of how much credit you're using compared to what's available to you) and helps the average age of your credit accounts. However, unless you're just about to apply for a new mortgage, it's probably fair to say that most people would prefer to have no more bank accounts open than was truly necessary.
How much does it cost to use the NatWest Longer Balance Transfer Credit Card abroad?
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£171.26), it'll cost you around £4.71 in fees.
Can I transfer money from the NatWest Longer Balance Transfer Credit Card to a bank account?
Yes. That's what's known as a "money transfer" (rather than a "balance transfer") in credit card jargon. You can arrange this from your online banking or using NatWest's app. This part of your card balance will incur interest of 26.9%. The fee for a money transfer is 3%.
Finder credit card scores
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts score balance transfer cards to determine their value against similar products on the market. We look at a number of important factors, like the length of the balance transfer offer, the balance transfer fee, any restrictions to making a transfer, 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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