All you need to know about the Royal Bank of Scotland (RBS) MyRewards scheme, including how to earn points on your credit card, where to redeem and other benefits.
RBS runs a scheme called MyRewards through its rewards current accounts and rewards credit cards. You can collect points which can be redeemed for cashback, vouchers or gift cards for partner retailers or charitable donations. This scheme was formerly known as Cashback Plus.
5 rewards points are worth £5.
How do you earn RBS MyRewards?
There are 3 ways you can earn rewards:
Earn £4 in Rewards a month. When you set up 2 Direct Debits from your Reward account.
Earn £1 in Rewards a month. When you login to your banking app once a month.
Earn between 1-15% in Rewards. Use your card to spend at our partner retailers.
How do you redeem RBS MyRewards?
You can choose to redeem your MyReward points as cash back in your bank account or gift cards to spend at an eligible partner retailer.
Your points can be worth even more with the “trade up” rewards feature, offered from time to time for specific partner retailers. For example, £10 worth of MyRewards could be exchanged for a £15 voucher for a particular partner retailer.
Alternatively, you may wish to donate your points to a chosen charity.
Pros and cons
Big redeem potential through MyReward “trade up”.
Charitable donations option.
Depending on the card you choose, you may be able to take advantage of 0% fees on foreign transactions
Flexible – choose between cash back, vouchers or donations.
Annual fee (although this is refunded if you also have an RBS Rewards current account).
Expiry date on vouchers.
Relatively high interest rates.
Compare credit cards that earn RBS reward points
Table: sorted by representative APR, promoted deals first
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.
RBS retailer partners for earning and redeeming points
RBS has partnered with the following retailers to earn rewards as you spend.
Waitrose & Partners
Currys
TK Maxx
B&Q
Cineworld
Morrisons
Argos
Ted Baker
Marks and Spencers
When redeeming your MyRewards with partner retailers, you can increase your rewards with the “trade up” partner retailers.
John Lewis & Partners
Avios
Argos
Red Letter Days
Morrisons
Currys PC World
B&Q
TK Maxx
Caffe Nero
Barnardo’s
Macmillan Cancer Support
Cancer Research UK
Alzheimer’s Society
British Heart Foundation
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Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio
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Izzy Thomas is a senior associate publisher at Finder specialising in credit-based products including credit cards, business loans and personal loans. Izzy has a Masters in Publishing and a Bachelor of Arts in International Business Management. See full bio
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Find out where you’ll earn cashback and how much you could pocket with this rewards card rom RBS.
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