NatWest Purchase & Balance Transfer Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 24.9% (variable) p.a., your representative rate is 24.9% APR (variable).
- 0% interest on balance transfers
- 18 months
- 0% interest on purchases
- 20 months
- Account fee
- £0
Our verdict
To take advantage of this 18-month 0% transfer period, the card debt you want to transfer will need to be held outside of the NatWest Group, including RBS and Ulster.With a representative APR of 24.9% and no annual fees, the is a competitive all-rounder.
But the main reason to consider this card is the headline-grabbing 18-month 0% balance transfer period, plus the 0% rate on purchases for the first 20 months.
While there are limits around the balances you can transfer (a maximum of 95% of your available credit limit, which must be transferred within the first 3 months), this is the longest 0% period currently on the market.
The card debt that you bring across will need to be from a card held outside the NatWest Group (that's NatWest, RBS, Ulster Bank and, er, Coutts).
Keep in mind that you'll need to pay a fee on any balance transfer, which may rule out anyone looking to transfer a particularly large balance.
Pros
-
Almost 2 years to spread the cost of purchases
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No annual fee
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Available to new customers
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Customers report excellent customer service when dealing with NatWest
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Almost 2 years of 0% interest to focus on reducing existing card debt
Cons
-
Minimum annual income requirement of £10000
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Don't forget that balance transfer fee! If cutting the interest on existing card debt is your main reason for considering this card, check out no-fee deals first
Details
Product overview
| Issuer | NatWest |
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 0% for 18 months reverting to 24.9% |
| Balance transfer fee | 2.99% |
| Purchases | 0% for 20 months reverting to 24.9% |
| Purchases interest-free period | Up to 56 days |
| Money transfers | 26.9% |
| Cash advances | 26.9% |
| Minimum credit limit | £250 |
| Maximum credit limit | Subject to status |
| Additional cards available | 3 |
| Potential costs | 7Great |
| Doing its job | 7.7Great |
| Extras | 10Excellent |
| Overall Finder Score | 8.1Great |
Fees and charges
| Minimum monthly payment | 1% or £5 (whichever is greater) or the total of any interest, default fees and charges, 1/12th of annual fee plus 1% of the outstanding balance or double the amount of that month's interest and any default charges, plus any instalment plan fee(s), plus £1. |
| Annual/monthly fees | £0 |
| Balance transfer fee | 2.99% |
| Money transfer fee | 3% |
| Foreign usage charge (EU) | 2.75% |
| Foreign usage charge (rest of world) | 2.75% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £12 |
| Duplicate statement fee | £3 |
| Exceeding limit fee | £12 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application requirements
| Minimum Age | 18 |
| Minimum income | £10,000 |
| Availability | Available to new customers |
The NatWest Purchase & Balance Transfer Credit Card is issued on the Mastercard network, so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
How does it compare?
NatWest's card
Finder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyOther popular balance transfer deals
Finder Score for credit cards
To make comparing even easier we came up with the Finder Score. Costs, perks and suitability across 120+ cards are all weighted and scaled to produce a score out of 10. The higher the score the better the card – simple.
Read the full methodologyApproval for any credit card depends 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. Most of the data in Finder's comparison tables is provided by Moneyfacts.
Repayment options
You can make manual repayments through NatWest's app by logging in to your online banking or over the phone (0345 788 8444). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and losing your promotional interest rate as a result (as well as damaging your credit score and incurring the late payment fee of £12). You could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 18 to see what you'll need to pay each month (this assumes you don't use the card for additional spending).
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
You can start by going to the bank's site and using its "Credit card eligibility checker". This runs a "soft" credit search to give you a clear idea as to whether or not you'd be approved for the deal (without hurting your credit score). If it's good news, you can proceed to the full application, which takes 5–10 minutes to complete.
Frequently asked questions
What credit limit will I get with the NatWest Purchase & Balance Transfer Credit Card?
If NatWest offers you this deal, it will specify a personalised credit limit based on NatWest's assessment of your situation. The minimum limit offered on this card is £250, and NatWest does not specify a maximum. Once you've had the card for a while and shown NatWest you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the NatWest Purchase & Balance Transfer 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 NatWest Purchase & Balance Transfer 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%, which is 8% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
Can I transfer a balance from another NatWest-branded card to the NatWest Purchase & Balance Transfer Credit Card?
No. NatWest doesn't accept balance transfers from credit cards issued through the NatWest group, which (as well as NatWest) includes Ulster Bank, RBS and Coutts.
How much does it cost to use the NatWest Purchase & Balance Transfer Credit Card abroad?
Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£164.83), it'll cost you around £4.53 in fees.
Can I transfer money from the NatWest Purchase & Balance Transfer Credit Card to a bank account?
Yes. That's what's known as a "money transfer" (rather than a "balance transfer") in credit card jargon. You can arrange this from your online banking or using NatWest's app. This part of your card balance will incur interest of 26.9%. The fee for a money transfer is 3%.
