NatWest Reward Black Credit Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 21.9% (variable) p.a. with a fee of £84 per annum. Reward Black Current Account holders: Year 2 onwards - £0 per annum, your representative rate is 40.7% APR (variable).
- Foreign transaction charge
- 0%
- Balance transfer fee
- 0%
- Interest-free each billing period
- Up to 56 days
Our verdict
Earn reward points as you spend and avoid fees when you use your card abroad.This premium NatWest card earns reward points at a respectable rate on spending both at home and abroad. And if you are heading overseas, you’ll also benefit from Mastercard exchange rates on non-sterling transactions (card issuers normally add their own fee or margin on top of this).
Reward points can be converted into cash, vouchers or even charitable donations. However, you’ll need to weigh up if the rewards you might earn will outweigh the annual fee, which is waived for NatWest Reward Black Current Account holders.
Similarly, if you anticipate carrying a balance on the card from month to month, then what you'll pay in interest will probably outweigh any rewards you'll earn. If you clear your balance in full each month, then you won't pay interest on purchases – you'll benefit from up to 56 days of 0% interest each billing cycle. This doesn't apply to cash advances, but it does apply to overseas transactions – which isn't always the case.
Pros
- Customers report excellent customer service when dealing with NatWest
- Avoid currency conversion charges when spending abroad
- Earn points on day-to-day spending
Cons
- Annual fee
- Minimum annual income requirement of £15,000
- Applicants with low credit scores are unlikely to be eligible
Details
Product overview
| Issuer | NatWest |
| Network | Mastercard |
| Representative APR | 40.7% APR (variable) |
| Annual/monthly fees | £84 per annum. Reward Black Current Account holders: Year 2 onwards - £0 per annum |
| Loyalty scheme | Rewards |
| Incentive | You'll earn 1% back at supermarkets and 0.5% back everywhere else, including supermarket petrol stations. At selected retailers, you could earn 1-15% back. |
| Additional Rewards Info | Call priority servicing |
| Purchases | 21.9% |
| Purchases interest-free period (days) | 56 |
| Balance transfers | 21.9% |
| Potential costs | 7.8Great |
| Doing its job | 9.5Excellent |
| Extras | 7.8Great |
| Overall Finder Score | 8.9Great |
What are the fees and charges for the Reward Black Card?
| 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 | £84 per annum. Reward Black Current Account holders: Year 2 onwards - £0 per annum |
| Balance transfer fee | 0% |
| Money transfer fee | 0% |
| Foreign usage charge (EU) | 0% |
| Foreign usage charge (rest of world) | 0% |
| 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 |
What are the application requirements for the Reward Black Card?
| Minimum Age | 18 |
| Minimum income | £15,000 |
| Residency | UK resident |
| Availability | Available to new customers |
The NatWest Reward Black 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 reward cards
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.
The bottom line
With the dual benefit of fee-free overseas spending and a flexible reward points scheme, the NatWest Rewards Black credit card is a relatively premium credit card that could suit high-spending frequent travellers.
However, unless you’re an existing NatWest Reward Black current account customer, you’ll need to pay an £84 annual fee, which can put a big dent in any value you might be getting from your reward points, especially if you don’t use your card that often.
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 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
If you've compared cards and settled on the NatWest Reward Black Credit Card, completing the secure online application form takes about 15 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 NatWest Reward Black 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 £5,000, 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 Reward Black 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 Reward Black 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 NatWest Reward Black Credit Card abroad?
Non-sterling transactions are subject to a 0% charge. For example, if you spend 200 euros (£164.83), it'll cost you around £0.00 in fees.
