RBS Reward Black Credit Card review 2022

Existing RBS customers can earn reward points as you spend and avoid fees when you use your card abroad.

Finder rating: ★★★★★

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Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £84 per annum. Reward Black Current Account holders: £0 per annum, your representative rate is 40.7% APR (variable).

40.7%

Representative APR

0%

Balance transfer fee

0%

Foreign transaction charge

Up to 56 days

Interest-free each billing period

Details

IssuerRoyal Bank of Scotland
NetworkMastercard
Annual/monthly fees£84 per annum. Reward Black Current Account holders: £0 per annum
Balance transfers21.9%
Balance transfer fee0%
Purchases21.9%
Purchases interest-free periodUp to 56 days
Money transfers26.9%
Cash advances26.9%
Minimum credit limit£5,000
Maximum credit limitNot specified
Additional cards available3
IncentiveEarn 1% back at supermarkets and 0.5% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back.
Additional Rewards InfoCall Prority Servicing.

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

This premium RBS card earns reward points at a respectable rate on spending both at home and abroad. 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).

Once your balance has grown to £5 or more, reward 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 hefty annual fee (which is waived for RBS Reward Black current account holders). Don’t forget RBS offers the option to add one additional cardholder, which could boost your reward earnings (though the account holder is solely responsible for all spending on both cards).

The best earn-rates are to be had at RBS MyRewards partner retailers (at the time of writing, these include Caffe Nero, Missguided and French Connection, among others) and at supermarkets (RBS states that this includes, but is not limited to: Asda, Iceland, Marks & Spencer, Morrisons, Sainsbury’s, ALDI, LIDL, Tesco, The Co-operative and Waitrose).

Unless you already hold a Reward Black current account, this card mostly makes sense if you travel abroad quite often and can benefit from the lack of foreign transaction fees. If you don’t, you may want to consider its RBS sister, the RBS Reward credit card, that offers similar rewards for a much cheaper annual fee.

Finally, this card is a bit lacking in terms of perks and extras. If you’re in it for the 0% deals, or would also like insurance and travel benefits, you’ll have to keep looking (our rewards credit card page may help!).

Pros and cons

Pros

  • Avoid currency conversion charges when spending abroad
  • Earn points on day-to-day spending

Cons

  • Annual fee
  • Minimum annual income requirement of £15,000
  • Applicants with low credit scores are unlikely to be eligible
  • Only available to existing customers

How does this compare with other rewards cards?

Table: sorted by representative APR, promoted deals first
Name Product Purchases Annual/monthly fees Initial credit limits Representative APR Incentive Link
M&S Bank Credit Card Rewards Offer Mastercard
0% for 12 months reverting to 19.9%
£0
Min. limit £500, max. limit not specified.
19.9% APR (variable)
Double points on spend in M&S for first year (2 points per £1). Then 1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.
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).
Check eligibility
M&S Bank Shopping Plus Credit Card
0% for 24 months reverting to 21.9%
£0
Min. limit £500, max. limit not specified.
21.9% APR (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 21.9% (variable) p.a., your representative rate is 21.9% APR (variable).
Check eligibility
M&S Bank Credit Card Transfer Plus Offer Mastercard
0% for 3 months reverting to 21.9%
£0
Min. limit £500, max. limit not specified.
21.9% APR (variable)
1 point per £1 spent with M&S and 1 point per £5 spent elsewhere. Enjoy 55 days interest free, preferential rates plus no cash advance fee when buying M&S travel money with the card.
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).
Check eligibility
Santander All in One Credit Card
0% for 23 months reverting to 18.9%
£3 per month
Min. limit £500, max. limit not specified.
24.7% APR (variable)
0.5% cashback on all your eligible purchases, paid monthly into card account. Maximum spend for cashback purposes is limited to credit limit. Terms apply.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £3 per month, your representative rate is 24.7% APR (variable).
Check eligibility
American Express® Platinum Cashback Everyday Credit Card
25.3%
£0
Min. limit £700, max. limit not specified.
25.3% APR (variable)
New cardmember offer: Get 5% cashback on your purchases (up to £100) for the first three months of Cardmembership. Terms apply. Spend £0 to £10,000 and receive 0.5% cashback on all purchases. Spend over £10,000 and receive 1% cashback on purchases.
Representative example: When you spend £1,200 at a purchase rate of 25.3% (variable) p.a., your representative rate is 25.3% APR (variable).
Check eligibility
The American Express Rewards® Credit Card
25.3%
£0
Min. limit £500, max. limit not specified.
25.3% APR (variable)
As a new Cardmember, earn 10,000 Membership Rewards® points when you spend £2,000 in your first 3 months of Cardmembership. Earn 1 point for every £1 spent thereafter.
Representative example: When you spend £1,200 at a purchase rate of 25.3% (variable) p.a., your representative rate is 25.3% APR (variable).
Check eligibility
British Airways American Express® Credit Card
25.3%
£0
Min. limit £700, max. limit not specified.
25.3% APR (variable)
New Cardmember offer: Earn 5,000 bonus Avios when you spend £1,000 in your first 3 months of Cardmembership. Earn 1 Avios for virtually every £1 spent. Spend £12,000 annually and get a travel companion voucher when redeeming Avios for a BA reward flight. Terms Apply
Representative example: When you spend £1,200 at a purchase rate of 25.3% (variable) p.a., your representative rate is 25.3% APR (variable).
Check eligibility
Royal Bank of Scotland Reward Credit Card (existing customers only)
21.9%
£24 per annum. Reward or Reward Black Current Account holders: £0 per annum
Min. limit £250, max. limit not specified.
26.8% APR (variable)
Earn 1% back at supermarkets and 0.25% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back.
Representative example: When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £24 per annum. Reward or Reward Black Current Account holders: £0 per annum, your representative rate is 26.8% APR (variable).
Check eligibility
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Compare up to 4 providers

Name Product Annual/monthly fees Purchases Representative APR Link Cashback details Representative example
Santander All in One Credit Card
£3 per month
0% for 23 months reverting to 18.9%
24.7%
Check eligibility
0.5% cashback on all your eligible purchases, paid monthly into card account. Maximum spend for cashback purposes is limited to credit limit. Terms apply.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a. with a fee of £3 per month, your representative rate is 24.7% APR (variable).
American Express® Platinum Cashback Everyday Credit Card
£0
25.3%
25.3%
Check eligibility
New cardmember offer: Get 5% cashback on your purchases (up to £100) for the first three months of Cardmembership. Terms apply. Spend £0 to £10,000 and receive 0.5% cashback on all purchases. Spend over £10,000 and receive 1% cashback on purchases.
Representative example: When you spend £1,200 at a purchase rate of 25.3% (variable) p.a., your representative rate is 25.3% APR (variable).
American Express® Platinum Cashback Credit Card
£25 per annum
25.3%
30.7%
Check eligibility
New cardmember offer: Get 5% cashback on your purchases (up to £125) for the first three months of Cardmembership. Terms apply. Spend £0 to £10,000 and receive 0.75% cashback on all purchases. Spend over £10,000 and receive 1.25% cashback on purchases.
Representative example: When you spend £1,200 at a purchase rate of 25.3% (variable) p.a. with a fee of £25 per annum, your representative rate is 30.7% APR (variable).
AIB Options 1 Credit Card
£0
18.9%
18.9%
0.5% after £5000 of yearly spend. Minimum of 12 transactions per year required. Maximum of £250 cashback paid per year. Cashback paid Anniversary into Card Account. For initial £5K a £25 cashback is paid, plus an additional £1 for every further £200 spent.
Representative example: When you spend £1,200 at a purchase rate of 18.9% (variable) p.a., your representative rate is 18.9% APR (variable).
smile Classic Credit Card
£0
19.9%
19.9%
0.25% after £1 of monthly spend. Cashback paid Monthly into Card Account.
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).
Halifax Cashback Credit Card Mastercard
£0
19.94%
19.9%
0.25% on £1 to £4000 of yearly spend. 0.5% after £4001 of yearly spend. Cashback paid January into Card Account. Maximum spend for cashback purposes is limited to credit limit.
Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).
Lloyds Bank Cashback Credit Card Mastercard
£0
19.94%
19.9%
0.25% on £1 to £4000 of yearly spend. 0.5% after £4001 of yearly spend. Cashback paid January into Card Account. Maximum spend for cashback purposes is limited to credit limit.
Representative example: When you spend £1,200 at a purchase rate of 19.94% (variable) p.a., your representative rate is 19.9% APR (variable).
Barclaycard Rewards Visa
£0
22.9%
22.9%
0.25% after £1 of yearly spend. Cashback paid On request into Card Account. Cashback paid annually or on request. Maximum spend for cashback purposes is limited to credit limit.
Representative example: When you spend £1,200 at a purchase rate of 22.9% (variable) p.a., your representative rate is 22.9% APR (variable).
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Compare up to 4 providers

Repayment options

You can make manual repayments through Royal Bank of Scotland's app, by logging in to your online banking or over the phone (0345 724 2424). 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 RBS Reward Black Credit Card

First, you can use Finder's eligibility checker to find out if you'd be likely to get approved for the RBS Reward Black Credit Card. This won't impact your credit score. If it's good news, you can then proceed to Royal Bank of Scotland's online application, which takes 10-15 minutes to complete.

Frequently asked questions

What credit limit will I get with the RBS Reward Black Credit Card?

If Royal Bank of Scotland is able to offer you this deal, the offer will specify a personalised credit limit based on Royal Bank of Scotland's assessment of your situation. The minimum limit offered on this card is £5,000 and Royal Bank of Scotland does not specify a maximum. Once you've had the card for a while and shown Royal Bank of Scotland that you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the RBS 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" (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 RBS 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 26.9% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though 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, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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