The NatWest Balance Transfer Credit Card – 2020 review
Existing NatWest customers can transfer debt from cards that aren't held with the RBS group to enjoy 18 months of 0% interest.
If you already hold a mortgage, credit card, savings or current account with NatWest, this deal lets you transfer that debt across to NatWest and benefit from a lengthy 0% interest period.
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In a nutshell:
0% interest on balance transfers
0% interest on purchases
|Balance transfers||0% for 18 months reverting to 19.9%|
|Balance transfer fee||0.49%|
Transfers must be made within 3 months of account opening
|Purchases||0% for 3 months reverting to 19.9% p.a. (variable)|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£300|
|Max credit limit||Not specified|
|Additional cards available||1|
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.
There are longer 0% deals than this available on the market (up to 29 months, in fact), but this one boasts a smaller transfer fee.
Remember that if you haven’t cleared your balance when the 18 months are up, your remaining debt will start to accrue interest at the card’s standard rate. Additionally, some cardholders will be given a higher standard rate than the advertised 19.9%, depending on NatWest’s assessment of their creditworthiness.
If you’re an existing customer, you probably already use the NatWest app and will be glad to know that, yes, you can track your card using the app. In fact, you can even lock and unlock it from the app, which is ideal when the card’s missing and you’re not sure if it’s down the back of the sofa or in the hands of a thief!
iPhone users will also be pleased to hear NatWest cards are all compatible with ApplePay.
Since it’s on the Mastercard network, your NatWest card will be accepted in more than 40 million locations worldwide and you’ll get access to Priceless Cities experiences.
Pros and cons
- 18 months’ 0% interest on balance transfers with no fee.
- Available to existing customers only.
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 18 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 want to apply, completing the secure online application form takes about 10 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
How long does it take to receive the NatWest card?
You'll know whether or not 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.
If I miss a repayment, will I lose my interest free offer?
No, but there are plenty of other good reasons not to miss a credit card payment, like hurting your credit score and getting hit with a penalty fee.
How much can I transfer using the NatWest Balance Transfer Credit Card?
You'll be able to transfer up to 95% of your available credit limit. Credit limits are tailored to the applicant and will be based on NatWest's assessment of your circumstances.
How do I request to change my credit limit on the NatWest credit card?
You can do this through internet 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.