If you want a card that can give you maximum spending power locally and internationally, then the NatWest Credit Card just might be for you. If you’re a frequent traveller, Are you in need of a card that offers a great low APR? How about a card that is optimal for travel spending?
The NatWest credit card will allow you to enjoy these privileges and many others. This card has benefits that can be reaped both at home and abroad. Plus, it limits fees to provide cardholders with extra savings.
If you would like to learn more about the NatWest credit card, continue reading below. We will discuss how to apply for the NatWest credit card and other important information you should know.
What are the Benefits of the NatWest Credit Card
The NatWest Credit Card is aimed at average earners who frequently travel abroad and those who want to improve their financial standing. Accordingly, it has benefits to help both of these groups.
This Mastercard-powered card does not charge you for foreign transactions. This feature enables you to use this card abroad without worrying about additional costs. Considering the standard foreign fee is about 3%, this could lead to big savings if you are someone who travels often. However, you still need to pay ATM fees and cash transaction charges while you’re overseas.
This card does not charge balance transfer fees when you want to reduce your monthly credit card payments or to clear your debt quicker. This is a huge perk because this card also has a 9.9% (variable) interest rate. This rate is significantly lower than the rate most cards on the market are willing to offer users. Therefore, this feature will allow you to manage your finances better as you can cut down your debts further.
The Natwest credit card is also packed with state-of-the-art features, including advanced security features. It is equipped with an EMV chip and PIN encryption to prevent fraud. Convenience is premier with this card as you can also make contactless payments in any outlets in the UK and abroad. Not to mention, the easily accessible online banking system you can use to monitor your card.
How to Raise Your Credit Limit
If you apply for this card and do not initially receive a credit limit you are thrilled about, don’t worry. As mentioned above, there are ways you can work to earn a higher credit limit. Here are a few tips to help you do that:
1. Always Make Payments On Time
The reason users receive low credit limits is often simply because the bank does not trust them with a larger amount. To gain trust, it is essential to always make your payments on time. If you miss payments on your credit card, the bank is unlikely to want to loan you more money.
2. Pay Your Balance in Full
Though understandably not always possible, pay your balance in full as often as you can. Not only does this help you avoid accruing interest, but it also shows the bank that you can take care of your debts. If you pay in full regularly the bank feels more secure about how you manage your money. This may end up in the bank offering you a higher credit limit.
3. Use Your Card Regularly
This may seem obvious but sometimes people become nervous about the responsibility of a new credit card and end up not using it very often. However, you don’t want to only use your credit card for emergencies or large expenses. Using your credit card regularly is the best way to build a solid credit history. To do this safely, you can use your credit card for your regular purchases and pay back the amount right away. If you regularly acquire and payback small debts your credit history will contain more than just that moment you used your card for an unexpected expense that you are slowly paying off.
What are the Fees of the NatWest Credit Card
- Annual Fee – £0
- Purchase Interest Rate – Representative 9.9% APR (variable)
- Balance Transfer Rate – Simple 6.7%-14% or Effective 6.9%-14.9%
- Cash Advance Fee – 3% of the amount of cash advance, £3 per copy and £10 per returned payment
- Foreign Usage Fee – £0 and 3% foreign cash handling fee
- Late Payment Fee – £12
How to Apply for the NatWest Credit Card?
NatWest allows any UK resident aged 18 years and above to apply for this card. You also need to show proof that you are earning at least £10,000 a year.
You can apply for The NatWest Credit Card in three ways — by visiting the NatWest website, via its mobile app, over the phone, or by visiting any branch in person. If you choose to order online, you should provide NatWest with various information, including your address for the last three years, income, employment details, and bank account details. As part of the approval process, the bank will do a full credit search.
The application and response time only takes around 15 minutes altogether and, once your application is approved, the bank will assign a credit limit of around £1,200 (minimum of £300). This amount can be higher or lower depending on many factors, such as your credit score, credit history, and financial condition.
Overall, the NatWest Credit Card works best for people who are frequent travelers and want a card with low fees and interest rates. It is also ideal for individuals who wish to settle their credit card debts faster, as NatWest does not charge a balance transfer fee.
However, unlike other cards, the NatWest Credit Card does not provide perks and discounts in select types of purchases through a rewards and cashback program. This could make the card less attractive to people who want to earn points from their purchases.
Feel free to visit the Natwest website today to start your application and begin enjoying the benefits of this card!
Note: There are risks involved when applying for and using a credit card. Please see the bank’s Terms and Conditions page for more information.