NatWest Reward Credit Card review 2023
- Representative APR
- 31% (variable)
- Balance transfer fee
- 0%
- Interest-free each billing period
- Up to 56 days
- Minimum credit limit
- £250
Get rewarded as you spend with points that can be converted into cash, vouchers or charitable donations.
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.
Pros
- Customers report excellent customer service when dealing with NatWest
- Earn points on day-to-day spending
Cons
- Annual fee
- Minimum annual income requirement of £10,000
- Applicants with low credit scores are unlikely to be eligible
- You may be offered an opening credit limit as low as £250
Details
Product overview
| Issuer | NatWest |
| Network | Mastercard |
| Representative APR | 31% APR (variable) |
| Annual/monthly fees | £24 per annum. Reward Current Account holders: £0 per annum |
| Loyalty scheme | Rewards |
| Incentive | You'll earn 1% back at supermarkets and 0.25% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back. |
| Purchases | 25.9% |
| Purchases interest-free period (days) | 56 |
| Balance transfers | 25.9% |
| Potential costs | ★★★★★ |
| Doing its job | ★★★★★ |
| Extras | ★★★★★ |
| Overall Finder rating | ★★★★★ |
| Overall customer rating | ★★★★★ |
Fees and charges
| Minimum monthly payment | 1% or £5 (whichever is greater) or the total of any interest, default fees and charges, 1/12th of annual fee plus 1% of the outstanding balance or double the amount of that month's interest and any default charges, plus any instalment plan fee(s), plus £1. |
| Annual/monthly fees | £24 per annum. Reward Current Account holders: £0 per annum |
| Balance transfer fee | 0% |
| Money transfer fee | 0% |
| Foreign usage charge (EU) | 2.75% |
| Foreign usage charge (rest of world) | 2.75% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | Max £12 Waived until end of 2023 |
| Duplicate statement fee | £3 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application requirements
| Minimum Age | 18 |
| Minimum income | £10,000 |
| Availability | Available to new customers |
The NatWest Reward Credit Card is issued on the Mastercard network so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
Approval for any credit card depends 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.
Repayment options
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 (Max £12 Waived until end of 2023) 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
If you've compared cards and settled on the NatWest Reward 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.
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 (£173.36), it'll cost you around £4.77 in fees.
Finder credit card ratings
Our experts score rewards credit cards to determine their value against similar products on the market. We look at a number of important factors, like welcome bonuses, introductory and ongoing earn-rates, any caps or restrictions on the points you can earn, 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.
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