You say: ★★★★★We say: ★★★★★
23 months
0% interest on balance transfers
23.9%
Representative APR
23 months
0% interest on purchases
£0
Account fee
| Issuer | NatWest |
|---|---|
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 0% for 23 months reverting to 23.9% |
| Balance transfer fee | 2.99% |
| Purchases | 0% for 23 months reverting to 23.9% |
| 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 |
Review by
Tom Stelzer is a writer for Finder specialising in personal finance, including loans and credit, as well as small business and business loans. He has previously worked as a freelance writer covering entertainment, culture and football for publications like FourFourTwo and Man of Many. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney.
With a representative APR of 23.9% and no annual fees, the NatWest Purchase & Balance Transfer Credit Card is a competitive all-rounder.
But the main reason to consider this card is the headline-grabbing 23-month 0% balance transfer period, plus the 0% rate on purchases for the first 23 months.
While there are limits around the balances you can transfer (a maximum of 95% of your available credit limit, which must be transferred within the first 3 months), this is the longest 0% period currently on the market.
The card debt that you bring across will need to be from a card held outside the NatWest Group (that’s NatWest, RBS, Ulster Bank and, er, Coutts).
Keep in mind that you’ll need to pay a fee on any balance transfer, which may rule out anyone looking to transfer a particularly large balance.
Approval for any credit card will depend 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.
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.
| Minimum amount | Fixed amount | Fixed percentage | Full amount |
|---|---|---|---|
If you've compared cards and settled on the NatWest Purchase & 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.
If NatWest is able to offer you this deal, the offer 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 that you're reliable, you may wish to apply for a credit limit increase.
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 Purchase & 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 13% 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).
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.
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.
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£174.83), it'll cost you around £4.81 in fees.
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%.
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.
