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.
The Royal Bank Credit Card review 2021
Last updated:
Keep your interest low while avoiding fees whenever you travel with an RBS credit card.
The imaginatively-named Royal Bank Credit Card is a handy card to carry both at home and abroad – having low rates, no annual fee and no fees for foreign transactions.
Finder rating: ★★★★★
Representative example: When you spend £1,200 at a purchase rate of 9.9% (variable) p.a., your representative rate is 9.9% APR (variable).
9.9%
Representative APR
0%
Balance transfer fee
0%
Foreign transaction charge
£0
Account fee
Details
| Issuer | Royal Bank of Scotland |
|---|---|
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 6.9% |
| Balance transfer fee | 0% |
| Purchases | 9.9% |
| Purchases interest-free period | Up to 56 days |
| Money transfers | 16.9% |
| Cash advances | 16.9% |
| Min credit limit | £300 |
| Max credit limit | Not specified |
| Additional cards available | 1 |
Review by
Chris Lilly
chris.lilly@finder.comChris 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
A very respectable option for people who don’t really want to have to think about their credit card, this deal is all about versatility and value over the long run.
You won’t find any headline-grabbing introductory 0% deals here – which is great if you don’t want the hassle of having to remember to switch cards after an introductory offer expires. Instead, this card comes with ongoing low (albeit variable) rates on purchases and balance transfers.
The downside of this is that if you’re transferring a balance or anticipating a large upcoming expenditure (or both), there are undoubtedly cheaper deals out there. Similarly, if you’re all about the rewards and perks, there are more specialised cards available on the market.
If you already have outstanding debt on a card elsewhere, there’s no fee to bring it across to RBS. It’ll start accruing interest straightaway, however, so if you don’t anticipate clearing it sharpish, consider a 0% balance transfer deal instead.
Perhaps the biggest selling point of this card is the fact that there are no fees for using it abroad – currencies are converted at the standard Mastercard rates – making it a hard-to-beat longer-term bet for use at home and on holiday.
What's in this review?
The Royal Bank 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
Pros
- A low ongoing interest rate (variable)
- Avoid currency conversion charges when spending abroad
- No annual fee
Cons
- Minimum annual income requirement of £10,000
- Applicants with low credit scores are unlikely to be eligible
- Only available to existing customers
How does it compare with other low rate deals?
Table: sorted by representative APR, promoted deals first
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 Royal Bank 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
What credit limit will I get with The Royal Bank 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 £300 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 Royal Bank Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (withdrawing cash at an ATM, getting cashback at the till, spending at a casino, buying currency, etc.) often incur steep fees and/or higher rates of interest.
The cash advance fee on The Royal Bank 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 16.9%, which is 71% more than the standard purchases rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
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.
Do I need to be an existing RBS customer?
No, and if you have card debt elsewhere, you may decide to apply for a balance transfer.
Will I pay fees on cash withdrawals overseas?
Yes. While RBS doesn’t charge a fee for non-sterling transactions using this card, withdrawing cash abroad will incur a fee (and the ATM owner may add its own fee on top too). Find out more about using a credit card overseas.
How do I change my credit card 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 (0345 724 2424).
Finder credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts score low rate credit cards to determine their value against similar products on the market. We look at a number of important factors, like exactly how low the low rate is, any perks/benefits, 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.
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.