NatWest Reward Black Credit Card review 2020
Earn reward points as you spend and avoid fees when you use your card abroad.
You say: ★★★★★We say: ★★★★★
Doing its job: 3.5/5
In a nutshell:
Balance transfer fee
Foreign transaction charge
Earn 1 point
per £1 spent with select partners
|Annual/monthly fees||£84 per annum. Reward Black Current Account holders: £0 per annum|
|Balance transfer fee||0%|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£5,000|
|Max credit limit||Not specified|
|Additional cards available||1|
|Incentive||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.|
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.
This premium NatWest card earns rewards points at a respectable rate on spending both at home and abroad. And 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).
Rewards 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 annual fee, which is waived for NatWest Reward Black Current Account holders.
Similarly, if you anticipate carrying a balance on the card from month to month, then what you’ll pay in interest will probably outweigh any rewards you’ll earn. If you clear your balance in full each month, however, then you won’t pay interest on purchases – you’ll benefit from up to 56 days of 0% interest each billing cycle. This doesn’t apply to cash advances, but it does apply to overseas transactions – which isn’t always the case.
Pros and cons
- Avoid currency conversion charges when spending abroad.
- Earn points on day-to-day spending.
- Annual fee.
- Minimum annual income requirement of £15,000.
- Applicants with low credit scores are unlikely to be eligible.
- Only available to existing customers.
- You may be offered an opening credit limit as low as £5,000.
How does this card compare with other rewards cards on the market?
When it comes to repayments, you can make manual repayments online or over the phone (0345 788 8444), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee 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 NatWest Reward Black Credit Card
If you’ve compared cards and want to apply, 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.