Natwest Platinum Credit Card

Natwest credit card review: Platinum

Platinum may not sound as good as gold but the Natwest Platinum credit card is doing its level best to give 'the other swish-sounding metal'(TM) some good PR.

This credit card was previously only available for Natwest current account customers.

Now you'll just need to be a UK resident aged over 18 with a minimum income of over £10,000 per annum and an average credit history to apply.

That's considerably more generous than cards with similar 0% balance transfer offers which makes the Natwest Platinum credit card a great way to add a gleam to an imperfect credit score.

The card's stand-out offer is 0% on balance transfers for a top-of-the-pile 16 months.

There's a balance transfer fee of 2.9%. However, that's not unusual at the moment - most credit card providers stipulate a fee of at least 3% - and the fee will still be far outweighed by your interest savings.

There's also a 3 month 0% rate on purchases and, after that, purchases are interest free if you pay back the full balance within 56 days.

Note that the Natwest Platinum credit card's allocation of payments clause applies to the shortest 0% offer first then the next 0% offer and then other balances so you can use the two offers together if you make sure you pay off the purchases in full by the end of the 0% on purchases period.

In general, to avoid confusion, we'd advise not spending on the Natwest Platinum credit card at all while you're paying off a balance transfer.

When the offers are over, the Natwest Platinum credit card still makes spending more secure.

As well as the usual section 75 protection you'll be protected under the card's internet fraud guarantee when you use Natwest secure for online purchases (just like Verified by Visa) and you can keep tabs on your account with online account management.

Natwest Platinum credit card holders will also have access to the Natwest Travel Service, which offers discounts and booking on plane tickets, hotels and package holidays.

In all, the Natwest Platinum credit card is a good choice for building up a good credit score - either by eliminating debt or by purchasing responsibly - whilst spending safely.

Interest Rates and Fees
		Notes..
Typical APR	16.9% APR (variable)	16.9% APR - 19.9% APR. The rate you receive will depend upon an assessment of your circumstances and credit history. Advantage Gold Account customers will receive a 1% discount in the APR for at least 12 months. The typical APR is the rate most people are offered.
Introductory Purchases	0% for 3 months	Payments are applied towards introductory rates first.
Balance Transfers	0% for 16 months	Must be made within the first 3 months your account is open. You can transfer up to 95% of your allocated credit limit. Payments are applied towards introductory rates first. You cannot transfer balances from other Royal Bank of Scotland group cards, including Natwest, RBS and Mint.
Balance Transfer Fee	2.9% (£5 minimum)
Cash Withdrawal Rate	27.95% p.a. (variable)	You can withdraw up to £750 each day, within your credit limit.
Cash Withdrawal Fee	3% (£3 minimum)	This fee is not charged on gambling transactions, will attract the cash withdrawal interest rate.
Annual Fee	None	-
Foreign Transaction Fee	2.75%	This fee will be charged if you make a purchase or cash withdrawal in a foreign currency.

Rewards
		Notes..
Reward #1	Travel Discounts	Enjoy help with booking and discounts on travel with the Natwest Travel Service.
Reward #2	Wine Club Offers	Enjoy special offers and the occasional free gift from the Natwest Wine Club.

Cardholder Services & Extras
Online Account Management		You can manage your account online if you have a Natwest current account.
Internet Fraud Guarantee		If your card has been used on the internet without your knowledge or consent, Natwest guarantee not to hold you liable for the fraudulent transaction if you have signed up to Natwest Secure (a free service in partnership with MasterCard SecureCode).
Fraud Monitoring		Active Fraud Monitoring with Free Mobile Text Alerts Choose SMS text alerts and receive a text message instead of a phone call if Natwest spot anything suspicious on your account.
Identity Protection
MasterCard SecureCode		An extra layer of security when shopping online. Register and set up a password-protected identity-check when you shop online with participating online retailers.
Purchase Protection Insurance
Purchase Delivery Insurance
Comprehensive Travel Insurance
Travel Accident Insurance
Travel Inconvenience Insurance
Assistance Abroad		Travel Helpline Get advice and help with medical emergencies whilst abroad.
Emergency Card Replacement
Other Extras
Optional Extras	These are extras that you can choose, but you will have to pay for them. - Card Protection - Identity Protection Cover

Payments & Payment Details
		Notes..
Credit Limit	£300 minimum	Maximum credit limit is subject to status.
Interest Free Period	Up to 56 days	For purchases if you pay your balance in full and on time, and have paid the previous month's balance in full and on time. There is no interest free period on money transfers or cash advances. The interest free period for balance transfers only applies during the introductory 0% offer.
Minimum Monthly Payment	2.25% (£5 minimum)	The minimum monthly payment will be the greater of: - 2.25% of your outstanding balance (rounded down to the nearest pound), OR - £5.
Allocation of Payments	Interest on Special Offers » Other Interest, Fees & Charges » Special Offers » Purchases & Balance Transfers » Cash Advances & Money Transfers	-
Default Charges	£12	- Returned Payment: £10 - Late Payment: £12 - Exceeding Credit Limit: £12
Copy of Statement Fee	£3	This is the fee you will be charged for duplicate statements.

Card Details
		Notes..
Online Application	Yes	Remember: always ensure you meet the application requirements before applying, as getting rejected can affect your credit score.
Card Type	Platinum	-
Payment Company	MasterCard	The company who provides the payment technology and infrastructure to allow you to use this credit card. Retailers and ATM machines displaying the 'MasterCard' logo will accept this credit card.
Card Issuer	Natwest	The bank who issues this credit card.
Card Advertiser	Natwest	The company who advertises and promotes this credit card.

Review Continued...

Apply Online for Natwest Platinum credit card »