NatWest Credit Cards
NatWest, is part of the Royal Bank of Scotland Group, having been taken over by RBS in 2000.
Despite the merger, NatWest and RBS have retained their separate brands and NatWest continues to offer a wide range of core banking products including current accounts, credit cards and savings accounts and also loans, mortgages and travel insurance which it is perhaps not as well known for.
NatWest has a number of different credit card products ranging from its student credit card which will help students build a credit history, through to its Black Card which is only available to those earning £75,000 a year or more. It also offers a rewards card and cards with interest-free periods or introductory offers where you benefit from a lower-than-average rate.
The deal most suitable for you will depend on how you plan to use your card (as well as your income and credit history). However, it is important to note that you cannot transfer a balance on to NatWest credit card, from another RBS card (that applies to Mint cards as well as Mint is also part of the RBS stable).
Glossary of terms
APR
This stands for Annual Percentage Rate. Any firm that lends money is required by law to quote the APR. Introductory rates do not include arrangement fees you may be charged and also don’t reflect any higher rate of interest that your borrowings will ultimately revert to. The APR takes into account the interest on a loan plus and additional charges making it easier for you to compare products. In general, the lower the APR the better the deal.
Balance Transfer
Balance transfer rates are applied to existing card debt that is being moved from one issuer to another or a consolidation of other debts. These rates tend to be lower than standard rates and apply to the debt transferred or consolidated for a specified term or until it is repaid in full.
Credit Card
Credit cards are a form of borrowing used to purchase goods and services, to obtain cash advances and for consolidating debt.
Direct Debit
This allows an organisation to take money directly from a persons bank account
Minimum payment
The amount you must pay each month to keep your account in order
Interest-free period
The time between when you buy something on the card and the date when you must pay your monthly bill. This can be 50 days or more and is interest-free. So if you settle your bill in full every month, it's free borrowing.
Promotional Rate
A rate that is applied to your account until a given expiry date. Thereafter it will revert to the rate applicable to your account at that time.
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Representative Example: If you spend £1,200 at a purchase interest rate of 17.95% (variable) your Representative APR will be 17.9% (variable).