RBS Platinum Credit Card

RBS credit card review: Platinum

A market-leading 16 months 0% balance transfer rate shoots the RBS Platinum credit card to the top of our tables but there's more to this card than the headline.

A 0% purchases offer for the first three months could take care of a big spend and there's also a range of RBS Platinum credit card holder services on offer including discounts on shopping and travel.

The card's been off the radar for a little while since it was only available to RBS current account holders so we're pleased to see that it's back and open to everyone.

You can transfer up 95% of your credit limit (minimum will be £300, subject to status) and transfers have to be made in the first 3 months of you opening the account.

There's also a handling fee of 2.9% of the balance but this is a standard charge.

The 0% purchase rate can be used with the 0% balance transfer - the shortest rate is paid off first - but only if all purchases are paid off in full to avoid them continuing to accrue interest until the balance transfer is paid off in full.

The RBS Platinum credit card has a few extra security features - an Internet fraud guarantee, free fraud text alerts and RBS secure. There's also online account management.

Shopping and travel discounts are also available when you pay with the RBS Platinum credit card, they include 10% off UK breaks with Superbreak and 20% off at buyagift.com.

Apply for the RBS Platinum credit card online. You'll need to be a UK resident, aged 18 or over and earn at least £10,000 per annum to make an application.

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 RBS, Natwest and Mint.
Balance Transfer Fee	2.9% (£5 minimum)	Introductory rate balance transfers carry a handling fee.
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)	-
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	Shopping Discounts	- 20% off at buyagift.com - 10% off UK short breaks with Superbreak.
Reward #2	Travel Discounts	Travel discounts through the RBS Travel Service. Discounts include last-minute bargains, advance bookings. From flights to airport car parking.
Reward #3	Wine Club Offers	The Royal Bank Wine Club has special offers when you pay with your RBS credit card.

Cardholder Services & Extras
Online Account Management		You can manage your account online if you have a Royal Bank of Scotland current account and use digital banking.
Internet Fraud Guarantee		If your card has been used on the internet without your knowledge or consent, RBS guarantee not to hold you liable for the fraudulent transaction if you've signed up to RBS 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 RBS 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	- Free additional cardholder
Optional Extras	These are extras that you can choose, but you will have to pay for them. - Card Protection - Identity Protection Cover - Payment Protection.

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 - The amount you owe over your credit limit, less any overdue amounts from previous statements, 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	Royal Bank of Scotland	The bank who issues this credit card.
Card Advertiser	Royal Bank of Scotland	The company who advertises and promotes this credit card.

Review Continued...

The Royal Bank of Scotland Platinum credit card offers two great 0% introductory offers: on balance transfers and purchases.

Unfortunately, the offers are of different lengths - one 16 months and one 3 months - so they're not ideal to use together.

Luckily, the RBS Platinum credit card comes with a range of security features and discounts that might make up for that.

Open to all new

After a short period of exclusivity - it was only open to RBS current account holders - the RBS Platinum credit card has become open to all.

To apply for the RBS Platinum credit card you'll need to be UK resident, aged 18 or over and earning at least £10,000 per year before tax. Applications can be made online.

16 months 0% balance transfer

The 0% on balance transfers for 16 months deal allows you to transfer an existing credit card balance or store card balance to the RBS Platinum credit card for the first three months you own the card.

When you transfer a balance you'll need to pay a 2.9% up-front fee.

However, this is a standard charge and the amount you'll save in interest will be much more than the fee.

Using 0% offers together

The RBS Platinum credit card also offers a 0% purchases period for three months.

This can be used with the 0% balance transfer offer as long as you pay off the purchases balance of the card in full by the end of the first three months.

Failure to do this will lead to the purchases balance becoming 'trapped' behind the balance transfer: you won't be able to clear the purchases until the balance transfer is paid off in full.

Another thing worth being aware of is cash advances with the RBS platinum credit card.

These have a higher interest rate and no interest-free period.

Cash advances include cash withdrawals, getting 'cash back' at the till and buying foreign currency or traveller's cheques.

Extra security

The RBS Platinum credit card comes complete with an Internet fraud guarantee.

If your credit card details are used fraudulently after shopping online the Royal Bank of Scotland guarantees that you won't be liable as long as the card was not used with your knowledge or consent.

Free fraud text alerts are an also available.

Apply Online for RBS Platinum credit card »