NatWest

NatWest

NatWest operates out of mainland United Kingdom. With a focus on personal, private, business, and international banking, the company offers multiple credit card options to meet a variety of its clients' needs. With cash back reward programs, varying competitive rates, online banking systems, and a dedication to helping young adult students build their credit, NatWest credit cards are great options to utilize for everyday spending.

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#91 2.2 -- Current

The Good

  • Multiple card options
  • Rewards programs
  • Online credit management

Multiple Card Options

NatWest offers four different credit card options for its members, each with a wide range of benefits. Each card provides a line of credit that is reliable with annual percentage rates that won't change based off of short term offers. The card options are as follows:

  • Reward Credit Card: This card allows cardholders to earn rewards for everyday spending with purchase rates starting at 18.9 percent, representative annual percentage rates starting at 23.7 percent, and a credit limit of £1,200
  • Clear Rate Platinum: Starting at a simple low rate of 6.9 percent on purchases and balance transfers, this card allows up to 56 days interest free credit on purchases as long as the balance is paid in full and on time each month
  • Reward Black Credit Card: This card comes with substantial spending power, especially for those that travel; benefits included a rewards program, no foreign transaction fees, around-the-clock personalized banking service, refundable annual fees, no balance transfer fees, purchase rates starting at 18.9 percent with a representative APR starting at 37.1 percent, and a credit limit of £1,200
  • Student Credit Card: Designed to help students build credit history and management skills, this card is available to all UK resident students over 18 years of age; benefits include a £500 limit, a 56-day interest-free purchase, comprehensive online and mobile management options, email and text message reminders, an 18.9 percent purchase rate, and an 18.9 percent representative APR

Rewards Program

The Reward and Reward Black credit cards offer rewards programs as additional benefits to cardholders. The Reward credit card helps cardholders earn 1 percent back at the supermarket, 1 percent or more back at MyRewards retailers, 0.5% back on gas purchases, and 0.5% back on purchases made anywhere else. Reward Black cardholders enjoy these same benefits, as well as extensive frequent traveler benefits.

Online Credit Management

A new online banking feature lets cardholders process payments online, view statements, set up automatic payments, and calculate payments with repayment calculators.

The Bad

  • High APRs
  • Requirements and fees
  • No monthly credit scores

High APRs

While NatWest's credit card options offer a wide range of annual percentage rates, each rate is variable and dependent on one's qualification. Once a rate is locked, a user may find it difficult to get their rates changed without building a history of accurate payments, which could lead to some canceling the card out of frustration with high APRs.

Requirements and Fees

Each card comes with a set of requirements. For example, individuals must be over 18 years of age and have a set income level. There is also a possibility of accruing additional and annual fees. NatWest advertises that no cardholder will be charged if their payment is only a day late, but late payments after the grace period will incur a fee of up to £12. With the exception of the student card, each card has an annual fee ranging from £24 to £84. These fees may be removed if a set criteria is met, but those who want to avoid this fee altogether without hassle will need to seek out another option.

No Monthly Credit Scores

Many credit card companies provide a view of an individual's credit score so that cardholders can keep track of their line of credit and how they stand before they attempt to make larger purchases. At this time, however, NatWest is not offering this type of report. If a cardholder desires to see this report on a regular basis they will need to seek out assistance from a third party.

The Bottom Line

If you are looking to select a credit card from a variety of cards in order to select a card that will meet both your APR and reward perk needs, you'll enjoy the credit cards from NatWest. Additionally, if you're a student and are looking to build your credit history with a card that will provide frequent reminders and updates to ensure you're paying on time, as well as relaxed payment periods to help you learn to manage your credit, you'll enjoy the student credit card option from NatWest.

Those who have had poor credit in the past, want a regular credit score report, or are worried about complicated annual and late fees will probably have better luck with a different credit card company.

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