Have you been looking for a valuable credit card that gives you rewards for your spends? We know it can be hard to choose the right one with so many different options out there. However, there is a card that might be just right for you!
With the Royal Bank of Scotland Reward Credit Card, you are likely to find the benefits and features that you want and need. This card offers a variety of features and ways to earn, so most users can find something they love.
If you would like to know more about this card, continue reading! We will discuss its offers, eligibility requirements, and how you can apply for one today.
An Amazing Rewards Program
The Royal Bank of Scotland Reward Credit Card gives you 1% in rewards every time you spend on supermarket purchases. You will also be given a 0.5% reward for petrol station transactions. Moreover, you are entitled to 1-15% in rewards when you transact at partner MyRewards establishments and 0.5% anywhere else. With all of these offers, cardholders are able to earn with every purchase. Thankfully, this program does not limit the number of rewards you can accumulate.
When you accumulate five digits in Rewards, the bank offers three choices for redemption. You have the option to cash in, trade for vouchers from partner establishments, or donate your rewards to charity. With these choices, you can certainly make your banking more fulfilling. Plus, you have the ability to choose a different option every time you cash out your rewards.
You’ll also enjoy the fact that the annual fees of £24 will be refunded to you if you hold a reward current account. For this and all of the reasons above, the Royal Bank of Scotland’s Rewards Credit Card is an excellent choice for those who want a card that helps them earn while they spend.
Other Helpful Features
This Mastercard-backed offer is not only rewarding but also secure and hassle-free. You can arrange an automated payment system through its installment plans to help you pay off big purchases over time. It also gives you access to your account using their mobile and online banking services. With these services, you can easily set up a budget to track your spending habits. When you have gone over your personalized budget, the bank will send you a friendly reminder to help you stay on track.
Additionally, since this card is backed by Mastercard, you can use it at millions of locations worldwide. You can trust that your payments are secure and protected with Mastercard standards.
Fees & Charges of the Reward Credit Card
- Annual fee: £24
- APR: Representative 23.7% APR (variable) *Rates of 23.7% APR, 30.0% APR or 33.1% APR, depending on individual circumstances.
- Purchases: 27.9% p.a.
- Cash advances: 29.9% p.a.
- Balance transfers: 27.9% p.a.
- Money transfers: 29.9% p.a.
- Non-sterling transaction fee: 2.75% of the transaction
- Late payment fee: £12
- Over credit limit: £12
Eligibility & How to Apply
If you are interested in applying for a Royal Bank of Scotland Reward Credit Card, keep in mind that you must be over 18 years old and a resident of mainland United Kingdom to be eligible. You must also have an annual income of GBP 10,000.
The bank will ask for personal, residential and employment information. Be ready to answer where you have resided for the past 3 years, as well as, details regarding your bank account (income and outflow). For a smoother process, make sure to have proofs of identity, residence, and employment on hand.
For applications, you can visit the Royal Bank of Scotland website and use their online form or drop by a branch near you. According to their website, the application process takes about 10 minutes and you can get a decision within 5 minutes. If you are approved, your card will be issued in 5 to 7 working days.
You can apply for your desired credit limit, with a minimum of GBP 300. However, keep in mind that the bank will grant a credit limit that fits your creditworthiness. To know your credit score, you can use the bank’s eligibility checker.
Using This Card Responsibly
With all of the great offers of this card, it can be easy to forget that credit cards should be taken seriously and require a certain degree of responsibility. While you are busy using this card and earning rewards, do not forget to make your payments on time. Missing a payment, or making a payment late, can hurt your credit rating. Doing so multiple times is sure to make your credit drop significantly. To avoid this, set reminders about when your payments are due!
While this card offers perks that help you earn and save money, it still comes with a moderately high-interest rate. The representative APR on this card is 27.9% (variable). Therefore, it is best to pay your balances in full whenever you can. Simply making the minimum payment each month will help you avoid fees, but will still rack up significant interest charges on your remaining balance.
There is nothing better than having a credit account that not only offers rewards but also provides security and peace of mind. With the Royal Bank of Scotland Reward Credit Card, you can take advantage of the perks of using this cashback card with ease and comfort. Simply head to the Royal Bank of Scotland website to get started if you want this card! If you are not sure that this card is right for you, check out other cards that RBS offers.
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.