When it comes to managing your everyday expenses, having a reliable credit card is essential. The NatWest Credit Card offers a low-interest rate, making it an attractive option for those looking to keep their financial life under control.
In the sections below, we’ll dive deeper into what makes this credit card a compelling option, and how it can fit into your financial plans.
Key information about the credit card
How does the annual fee work?
One of the most appealing aspects of the NatWest Credit Card is that it comes with no annual fee. This means you can enjoy all the benefits of the card without worrying about an additional cost each year. For many consumers, avoiding an annual fee is a significant factor in their choice of credit card, as it directly impacts the overall cost of maintaining the card.
How is the credit limit determined?
The credit limit for the NatWest Credit Card is determined based on a thorough credit assessment of the applicant. This process involves evaluating your credit history, income, and other financial factors to establish a credit limit that is appropriate for your financial situation.
Advantages of the credit card
- Low-interest rate: With a representative APR of just 12.9% (variable), this card offers one of the lower interest rates available on the market, helping you save money on interest charges.
- No foreign transaction fees: Whether you’re traveling abroad or making purchases from international retailers, you won’t incur any additional fees for foreign transactions, which is a significant benefit for frequent travelers.
- Global acceptance: As a Mastercard, this credit card is widely accepted both in the UK and internationally, providing convenience and flexibility wherever you go.
- No annual fee: Enjoy the benefits of the NatWest Credit Card without having to pay an annual fee, keeping your costs low and manageable.
Standout advantage
Perhaps the most distinctive feature of the NatWest Credit Card is its absence of foreign transaction fees. This benefit sets it apart from many other credit cards on the market, which often charge a percentage fee on transactions made abroad. For those who travel frequently or make purchases from international merchants, this feature can result in substantial savings over time.
Disadvantages
- Potential for high APR: Depending on your credit assessment, you may be assigned a higher interest rate, up to 18.9% APR (variable), which could increase your overall costs if you carry a balance.
- Limited reward programs: Unlike some other credit cards, the NatWest Credit Card doesn’t offer a comprehensive rewards program, which may be a drawback for those looking to earn points or cash back on their spending.
- Credit limit flexibility: While the credit limit can be up to £1,200, some users may find their initial limit lower than expected, which could limit their purchasing power.
A standout disadvantage
One notable disadvantage of the NatWest Credit Card is the potential for a higher APR based on your credit assessment. Although the representative APR is 12.9% (variable), some applicants may be assigned a rate as high as 18.9% (variable).
Who can apply for this card?
The NatWest Credit Card is available to UK residents who meet certain eligibility criteria. To apply, you must be at least 18 years old and have an annual income of at least £10,000. This income requirement ensures that applicants have the financial means to manage their credit responsibly.
Additionally, applicants should have a good credit history, as this will be a key factor in the bank’s credit assessment process. Your credit score will be reviewed during the application process to determine your eligibility, and it’s important to note that while NatWest offers a pre-application eligibility check that doesn’t impact your credit score, the final application will result in a formal credit inquiry.
The card is generally not available to those with poor credit or recent negative credit events, making it a better option for individuals with a stable financial history.
How to apply for The NatWest Credit Card
For the website
If you prefer to apply online, you can start the process by visiting the NatWest website. Here, you’ll find a dedicated section for the NatWest Credit Card, where you can review all the key details and begin your application.
The website will guide you through the necessary steps, starting with a pre-application eligibility check. This initial check will give you an indication of whether you’re likely to be approved and what your initial credit limit might be, all without impacting your credit score.
Once you proceed with the full application, you’ll need to provide personal information such as your name, address, income details, and employment status. NatWest will also conduct a formal credit check at this stage. If approved, you’ll receive your new credit card in the mail within a few business days, along with instructions on how to activate and start using it.
Through the app
For those who prefer a mobile-friendly experience, the NatWest app offers a convenient way to apply for the credit card. Simply download the app from your device’s app store, and navigate to the credit card section.
The app provides a similar process to the website, starting with an eligibility check that won’t affect your credit score. From there, you can proceed with the full application directly within the app, entering your personal details and submitting the necessary information.
The app also allows you to track the status of your application in real-time, and once approved, you can manage your credit card entirely through the app. This includes setting up alerts, viewing your balance and transactions, and even making payments, all from the convenience of your smartphone.
At the branch
If you prefer a more personal touch, you can apply for the NatWest Credit Card in person at any NatWest branch. This option allows you to speak directly with a bank representative who can answer any questions you may have about the card and assist you with the application process.
When applying in person, be sure to bring the necessary documentation, including proof of identity, address, and income. The representative will guide you through the application, helping you complete the required forms and submitting them on your behalf.
Applying in person also gives you the opportunity to discuss your financial situation in more detail, potentially receiving personalized advice on how to manage your credit effectively. Once your application is approved, you can expect to receive your card in the mail within a few days, and you’ll be ready to start using it for your everyday purchases.
