The Royal Bank Balance Transfer Credit Card review September 2019

Existing RBS customers can transfer debt from cards that aren’t held with the RBS group to enjoy 23 months of 0% interest.

If you already bank with RBS but have card debt elsewhere, this deal lets you transfer the balance to RBS and enjoy a long interest-free period, allowing you to clear debt faster and more cheaply.

Finder rating: ★★★★★

Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).

23 months

0% interest on balance transfers

0%

Balance transfer fee

3 months

0% interest on purchases

19.9%

Representative APR

Details

IssuerRoyal Bank of Scotland
NetworkMastercard
Annual/monthly fees£0
Balance transfers0% for 23 months reverting to 19.9%
Balance transfer fee0% for transfers in first 3 months
Purchases0% for 3 months reverting to 19.9% p.a. (variable)
Purchases interest-free periodUp to 56 days
Money transfers26.9%
Cash advances26.9%
Min. credit limit£300
Max credit limitNot specified
Additional cards available1
Minimum Age18
Minimum income£10,000
AvailabilityAvailable to existing current account, mortgage, savings or credit card customers.
Annual/monthly fees£0
Balance transfer fee0% for transfers in first 3 months
Money transfer fee3%
Foreign usage charge (EU)2.75%
Foreign usage charge (rest of world)2.75%
Cash advance fee3% (min. £0)
Late payment fee£12
Exceeding limit fee£12
Additional card fee£0
Dormancy fee£0

Expert review

Chris Lilly

Review by


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.

Expert review

There are a number of longer 0% deals than this available on the market (up to 29 months, in fact) but this one comes with the significant (particularly for those transferring larger sums) bonus of not charging you a balance transfer fee.

Remember that if you don’t clear your balance in full within the 23 months, any outstanding balance will start to accrue interest at the card’s standard rate (this “revert” rate may be higher than the advertised rate, depending on RBS’s assessment of your circumstances).

If you are an existing customer, you probably already use the RBS app and will be glad to know that, yes, you can track your card using the app (you can even lock and unlock it from the app). iPhone users will also be pleased to hear all RBS cards are compatible with ApplePay.

How does this card compare with other similar cards on the market?

RBS’s card

Updated September 18th, 2019
Name Product Balance transfers Balance transfer fee Purchases Rep. APR Incentive Representative example
0% for 23 months reverting to 19.9%
0% for transfers in first 3 months
0% for 3 months reverting to 19.9% p.a. (variable)
19.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).

Compare up to 4 providers

The competition

Table: sorted by representative APR, promoted deals first
Updated September 18th, 2019
Name Product Balance transfers Balance transfer fee Purchases Rep. APR Incentive Representative example
0% for 23 months reverting to 19.9%
0% for transfers in first 3 months
0% for 3 months reverting to 19.9% p.a. (variable)
19.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 23 months reverting to 19.9%
0% for transfers in first 3 months
0% for 3 months reverting to 19.9% p.a. (variable)
19.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 20 months reverting to 19.9%
2.9% (min. £5)
0% for 20 months reverting to 19.9%
19.9% p.a. (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point for every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 12 months reverting to 19.9%
3% (min. £3)
19.9%
19.9% p.a. (variable)
Earn Asda vouchers every time you shop - 1% cashback on all Asda spend, 0.2% on all other transactions and 10% on selected insurance products. Once £2.5 is earnt a voucher can be downloaded to spend in Asda stores.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 29 months reverting to 19.95%
3% (min. £3)
0% for 3 months reverting to 19.95%
19.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 19.95% (variable) p.a., your representative rate is 19.9% APR (variable).
0% for 29 months reverting to 20.93%
2.75% for 2 months reverting to 5%
20.93%
20.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 20.93% (variable) p.a., your representative rate is 20.9% APR (variable).
0% for 29 months reverting to 21.9%
3% for 2 months reverting to 5%
0% for 3 months reverting to 21.9%
21.9% p.a. (variable)
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
0% for 28 months reverting to 19.9%
2.85% (min. £5) for 3 months reverting to 2.9% (min. £5)
0% for 6 months reverting to 19.9%
19.9% p.a. (variable)
Earn 1 point for every £1 spent at Marks and Spencer's and 1 point or every £5 spent elsewhere. 100 points = £1 reward voucher. Points will be converted into reward vouchers 4 times a year.
Representative example: When you spend £1,200 at a purchase rate of 19.9% (variable) p.a., your representative rate is 19.9% APR (variable).

Compare up to 4 providers

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.

Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0800 121 121), or alternatively 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 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 Royal Bank Balance Transfer Credit Card

If you have compared cards and want to apply, completing the secure online application form takes about 10 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

How long does it take to receive the card?
You’ll know whether or not your application has been approved within 5 minutes of submission. As long as it’s approved, RBS states your shiny new card will be with you in 5-7 working days.
If I miss a repayment, will I lose my interest free offer?
No, but there are plenty of other good reasons not to miss a credit card payment, like hurting your credit score and getting hit with a penalty fee.
How much can I transfer?
You’ll be able to transfer up to 95% of your available credit limit. Credit limits are tailored to the applicant and will be based on RBS’s assessment of your circumstances.
How do I request to change my credit limit?
You can do this through internet banking by selecting “Cards” from the main menu. In the “Manage your personal credit card” section select “Manage your credit card limit”. Add your annual income, requested credit limit and the last 5 digits of your card. Finally, select “submit”. Alternatively, you can call a customer advisor (0800 121 121).

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Our team evaluates credit cards to determine their value against similar products on the market.

We look at the how good the card is for its designated purpose – spending abroad, clearing debt, earning air miles etc. – how costly it is to use day-to-day and whether it offers much in the way of extras.

We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When you make major financial decisions, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

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2 Comments

  1. Default Gravatar
    Anonymous
    August 6, 2019

    What’s the maximum amount one is allowed to transfer onto these cards?

    • AvatarStaff
      Jhez
      August 6, 2019

      Hello,

      Thank you for your comment.

      You’ll be able to transfer up to 95% of your available credit limit. Please note that the credit limits are tailored to the applicant and will be based on RBS’s assessment of your circumstances.

      Regards,
      Jhezelyn

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