RBS Reward Black Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £84 per annum. Reward Black Current Account holders: £0 per annum, your representative rate is 40.7% APR (variable).
- Foreign transaction charge
- 0%
- Balance transfer fee
- 0%
- Interest-free each billing period
- Up to 56 days
Our verdict
Existing RBS customers can earn reward points as you spend and avoid fees when you use your card abroad.This premium RBS card earns reward points at a respectable rate on spending both at home and abroad. If you are heading overseas, you'll also benefit from Mastercard exchange rates on non-sterling transactions (card issuers normally add their own fee or margin on top of this).
Once your balance has grown to £5 or more, reward points can be converted into cash, vouchers or even charitable donations. However, you'll need to weigh up if the rewards you might earn will outweigh the hefty annual fee (which is waived for RBS Reward Black current account holders). Don't forget RBS offers the option to add one additional cardholder, which could boost your reward earnings (though the account holder is solely responsible for all spending on both cards).
The best earn-rates are to be had at RBS MyRewards partner retailers (at the time of writing, these include Caffe Nero, Missguided and French Connection, among others) and at supermarkets (RBS states that this includes, but is not limited to: Asda, Iceland, Marks & Spencer, Morrisons, Sainsbury's, ALDI, LIDL, Tesco, The Co-operative and Waitrose).
Unless you already hold a Reward Black current account, this card mostly makes sense if you travel abroad quite often and can benefit from the lack of foreign transaction fees. If you don’t, you may want to consider its RBS sister, the RBS Reward credit card, that offers similar rewards for a much cheaper annual fee.
Finally, this card is a bit lacking in terms of perks and extras. If you're in it for the 0% deals, or would also like insurance and travel benefits, you'll have to keep looking (our rewards credit card page may help!).
Pros
- Customers report excellent customer service when dealing with Royal Bank of Scotland
- Avoid currency conversion charges when spending abroad
- Earn points on day-to-day spending
Cons
- Annual fee
- Minimum annual income requirement of £15,000
- Applicants with low credit scores are unlikely to be eligible
Details
Product overview
| Issuer | Royal Bank of Scotland |
| Network | Mastercard |
| Representative APR | 40.7% APR (variable) |
| Annual/monthly fees | £84 per annum. Reward Black Current Account holders: £0 per annum |
| Loyalty scheme | Rewards |
| Incentive | Earn 1% back at supermarkets and 0.5% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back. |
| Additional Rewards Info | Call Prority Servicing. |
| Purchases | 21.9% |
| Purchases interest-free period (days) | 56 |
| Balance transfers | 21.9% |
| Potential costs | 3.5 ★★★★★ |
| Doing its job | 5.0 ★★★★★ |
| 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; double the amount of that month's interest and any default charges, plus any instalment plan fee(s), plus £1; or the excess over your credit limit after deducting any overdue amounts from previous statements. |
| Annual/monthly fees | £84 per annum. Reward Black Current Account holders: £0 per annum |
| 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. £0) |
| 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 | £15,000 |
| Residency | UK resident |
| Availability | Available to new customers |
The RBS Reward Black 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.
How does this compare with other rewards cards?
Repayment options
You can make manual repayments through Royal Bank of Scotland's app by logging in to your online banking or over the phone (0345 724 2424). 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 RBS Reward Black Credit Card
If you've compared cards and settled on the RBS Reward Black Credit Card, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you'll need to make the process as straightforward as possible.
Frequently asked questions
What credit limit will I get with the RBS Reward Black Credit Card?
If Royal Bank of Scotland offers you this deal, it will specify a personalised credit limit based on Royal Bank of Scotland's assessment of your situation. The minimum limit offered on this card is £5,000, and Royal Bank of Scotland does not specify a maximum. Once you've had the card for a while and shown Royal Bank of Scotland you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the RBS Reward Black 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 RBS Reward Black Credit Card is 3%.
The interest rate on this part of your balance will be 26.9% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
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