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NatWest credit card rewards

With the NatWest MyRewards scheme, you can earn points for doing your grocery shopping and turn them into cash, vouchers or charity donations.

Chris Lilly
Chris Lilly

Last updated:

You’ll automatically join the scheme if you take out a NatWest Reward credit card or current account.

Here we’ve looked at how it works, how you can redeem your points and some of the pros and cons of the programme.

How do you earn NatWest MyRewards?

You’ll earn MyRewards points every time you use your Reward credit card, but you’ll earn at a different rate depending on where you shop. More specifically, you can earn:

  • 1% of the value of your purchase at supermarkets and at NatWest partner retailers. This translates into 1 point for every £100 spent.
  • 0.5% everywhere else, including supermarket petrol stations. This means you’ll need to spend £200 to earn 1 point.

While numerous other points schemes offer low-value points by the hundred or even thousand but require you to do some quick maths to work out how much your points are worth, NatWest’s points value is refreshingly simple:

  • 1 NatWest MyRewards point is worth £1.

Compare credit cards that earn NatWest MyRewards points

Table: sorted by representative APR, promoted deals first
Updated April 6th, 2020
Name Product Purchases Balance transfers Annual/monthly fees Rep. APR Incentive Representative example
NatWest Reward Credit Card Mastercard
NatWest Reward Credit Card Mastercard
18.9%
18.9%
£24 per annum. Reward or Reward Black Current Account holders: £0 per annum
23.7% (variable)
More Info
1% Rewards earned on supermarket spend and 0.25% at their petrol stations, at least 1% Rewards earned at MyRewards retailers and 0.25% everywhere else when shopping at home and abroad. 5 Rewards is £5 when redeemed. Rewards can be converted into money and transferred to a current account, exchanged for gift cards or tickets with some retailers doubling their value or converted into money and donated to one of the RBS Group chosen charities.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £24 per annum. Reward or Reward Black Current Account holders: £0 per annum, your representative rate is 23.7% APR (variable).
NatWest Reward Black Credit Card Mastercard
NatWest Reward Black Credit Card Mastercard
18.9%
18.9%
£84 per annum. Reward Black Current Account holders: £0 per annum
37.1% (variable)
More Info
1% Rewards earned on supermarket spend and 0.5% at their petrol stations, at least 1% Rewards earned at MyRewards retailers and 0.5% everywhere else when shopping at home and abroad. 5 Rewards is £5 when redeemed. Rewards can be converted into money and transferred to a current account, exchanged for gift cards or tickets with some retailers doubling their value or converted into money and donated to one of the RBS Group chosen charities.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £84 per annum. Reward Black Current Account holders: £0 per annum, your representative rate is 37.1% APR (variable).
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How do you redeem NatWest MyRewards?

Once you’ve earned at least 5 points (the equivalent of £5), you can redeem them online by logging in to your NatWest MyRewards account. You have three main options:

  • Cash. You can turn your points into cash and deposit it into your current account or use it to reduce your credit card debt.
  • Vouchers. You can convert your points into NatWest partner gift cards. Thanks to the “trade up” feature, at certain retailers, your points can be worth more than just £1 each. It will depend on the offer, but, for example, a £40 voucher at one of NatWest’s partner retailers might only cost you 30 MyRewards points.
  • Charity donations. You can donate your points to selected charities.

Pros and cons

  • You earn points every time you use your credit card, no matter where.
  • Points acquire greater value if you redeem them at NatWest “trade up” partners.
  • Flexibility – you can redeem your points for cash or gift cards, or make a donation.
  • You can choose a no foreign transaction fee card.
  • Interest rates are relatively high.
  • There’s an annual fee, although NatWest will pay it back if you have a NatWest current account as well.
  • Many vouchers expire within a year or less.

NatWest retail partners for earning and redeeming points

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.

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