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.
NatWest Reward Credit Card review 2021
Get rewarded as you spend with points that can be converted into cash, vouchers or charitable donations.
You say: ★★★★★We say: ★★★★★
Doing its job: 3.5/5
In a nutshell:
Balance transfer fee
Up to 56 days
Interest-free each billing period
Minimum credit limit
|Annual/monthly fees||£24 per annum. Reward or Reward Black Current Account holders: £0 per annum|
|Balance transfer fee||0%|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£250|
|Max credit limit||Not specified|
|Additional cards available||1|
|Incentive||1% Rewards earned on supermarket spend and 0.25% at their petrol stations, at least 1-15% 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.|
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 straightforward rewards card from NatWest earns you points as you spend on anything from everyday groceries to clothes to meals out (you’ll even earn rewards when you use your card overseas). There’s no limit to the amount of rewards you can earn, and they can be turned into cash, shopping vouchers or even charitable donations.
You’ll need to weigh up whether the potential rewards you could earn would outweigh the annual fee (although you’ll avoid this altogether if you’re an existing NatWest Reward current account holder).
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 need the card for a major upcoming expense, then you may wish to consider a 0% purchases card instead.
The NatWest Reward Credit Card is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.
Pros and cons
- Customers report excellent customer service when dealing with NatWest
- Earn points on day-to-day spending
- Annual fee
- Minimum annual income requirement of £10,000
- Applicants with low credit scores are unlikely to be eligible
- Only available to existing customers
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 for the NatWest Reward Credit Card
First, you can use Finder's eligibility checker to find out if you'd be likely to get approved for the NatWest Reward Credit Card. This won't impact your credit score. If it's good news, you can then proceed to NatWest's online application, which takes 10-15 minutes to complete.
Frequently asked questions
What credit limit will I get with the NatWest Reward 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 £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.
Can I withdraw cash using the NatWest Reward Credit Card?
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 Reward 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% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
How much does it cost to use the NatWest Reward Credit Card abroad?
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£168.88), it'll cost you around £4.64 in fees.