RBS Reward Credit Card review 2022

Existing RBS customers can get cashback at a range of different earn-rates with this RBS Reward Credit Card.

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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 £24 per annum. Reward or Reward Black Current Account holders: £0 per annum, your representative rate is 26.8% APR (variable).


Representative APR


Balance transfer fee

Up to 56 days

Interest-free each billing period


Minimum credit limit


IssuerRoyal Bank of Scotland
Annual/monthly fees£24 per annum. Reward or Reward Black Current Account holders: £0 per annum
Balance transfers21.9%
Balance transfer fee0%
Purchases interest-free periodUp to 56 days
Money transfers26.9%
Cash advances26.9%
Minimum credit limit£250
Maximum credit limitNot specified
Additional cards available3
IncentiveEarn 1% back at supermarkets and 0.25% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back.
Additional Rewards Info1% 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.

Review by

Chris Lilly is a publisher at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.

Expert review

This card offers you the opportunity to earn cashback on all of your spending, but how much you’ll earn depends on where you use it.

The best earn-rates are to be had at RBS MyRewards partner retailers 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).

You’ll also earn rewards on the rest of your shopping, but at a lower rate. Don’t forget the option to add an additional cardholder could boost your cashback earnings (though the account holder is solely responsible for all spending on both cards).

With an annual fee that’s waived for Reward current account holders, it’s existing RBS customers who are responsible for their household’s weekly shopping and who don’t anticipate carrying a balance from month to month that will stand to benefit the most from this deal. As with all reward credit cards, it’s a smart idea to weigh up what you’re likely to earn from the card versus what it’s likely to cost you.

While it does the job in terms of rewards, this card is a bit lacking in terms of extras and perks. It offers no 0% deals on balance transfers or purchases, so if you need to pay back old debt or spread the cost of an incoming purchase, it isn’t the right card for you.

Pros and cons


  • 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

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.

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

First, you can use Finder's eligibility checker to find out if you'd be likely to get approved for the RBS Reward 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 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 £250 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 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 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 RBS Reward Credit Card abroad?

Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£178.81), it'll cost you around £4.92 in fees.

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