Approval for any credit card will depend on your status. The APR shown represents 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.
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
Up to 56 days
Interest-free each billing period
|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 it compare?
Other popular reward cards
With the dual benefit of fee-free overseas spending and a flexible reward points scheme, the NatWest Rewards Black credit card is a relatively premium credit card that could suit high-spending frequent travellers.
However, unless you’re an existing NatWest Reward Black current account customer, you’ll need to pay an £84 annual fee, which can put a big dent in any value you might be getting from your rewards points, especially if you don’t use your card that often.
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 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
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.
Frequently asked questions
What credit limit will I get with the NatWest Reward Black Credit Card?
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 £5,000 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.
Can I withdraw cash using the NatWest 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" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.
The cash advance fee on the NatWest Reward Black 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 25.9% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).