Offering 0% interest on balance transfers for 13 months, with no balance transfer fee or annual fee to pay, Natwest’s Balance Transfer Card is one of the top deals of its kind on the market.
Representative APR
Assuming a credit limit of £1,200 and an interest rate on purchases of 24.9% p.a. variable, the representative APR will be 24.9% variable.
Pros
- No balance transfer fee
- No annual fee
- 13 months 0% on transfer balances
- Up to 3 months 0% on purchases
Cons
- No perks or rewards
- Must transfer balance in first 3 months for 0%
- Must earn £10,000 a year to be eligible
- No transfers from other cards in the NatWest Group
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Table of Contents
Key features
- Use anywhere Mastercard® is accepted globally, in-store and online
- Guaranteed 0% interest on balance transfers for 13 months
- No fee for balance transfers
- 0% interest on purchases for first three months
This competitive credit card from NatWest offers 13 months interest-free on balances transferred within the first three months of the account opening with no transfer fee to pay. It’s also guaranteed, so all accepted for the card will get the full 13 months.
The balance transfer fee is zero – and there is no annual fee.
There is a minimum transfer amount of £100 and you can transfer balances up to 95% of your available credit limit. Balances can be transferred from most credit and store cards, although not from other cards within the NatWest Group (RBS and Ulster Bank).
This deal used to be reserved for existing NatWest customers but is now open to all applicants who are UK residents aged 18 or over, and earn more than £10,000 a year.
The same offer is available from RBS and Ulster Bank which are part of the same banking group (NatWest Group plc).
Charges
A representative 24.9% APR (variable) will apply after the promotional period has expired. However, actual APRs and credit limits can vary depending on NatWest’s credit assessment of applications. Interest on fees and charges is payable in line with the bank’s terms and conditions.
If you miss a monthly repayment, or go over your credit limit by more than £12, you could be charged a £12 fee. However, this will have no bearing on your 0% offer which will remain.
Once the 0% three-month period for balance transfers expires, any remaining debt and new purchases made on the card will be charged a rate of up to 29.9% APR (variable).
However, cardholders can take advantage of 56 days’ interest-free credit on purchases. This means that, if you clear your balance in full and on time each month, you won’t have anything to pay in interest.
Protection
As with any credit card, Natwest’s Balance Transfer credit card offers protection under section 75 of the Consumer Credit Act. This safety net applies to items or services costing more than £100 and up to £30,000.
This protection applies even if you only use the card to pay for part of the cost – such as the deposit – as long as it is between these two values. Find out more about Section 75 with our guide.
Will I be eligible?
This card is available to UK residents, aged 18 or over, who earn at least £10,000 a year.
However, specific eligibility will depend on an individual’s personal circumstances. Before making your application you can use an eligibility checker tool to find out how likely you are to be accepted for this card, and on what terms. This won’t leave any marks on your credit report.
What more should I know?
While the representative APR on this card is 24.9% (variable), cardholders may be shown a higher rate, depending on personal circumstances.
Cardholders must transfer a minimum balance of £100 to their Natwest Balance Transfer card within the first three months of opening it to qualify for the 0%.
Balance transfer amounts can be up to 95% of the available credit limit. The balance can be transferred from most store cards and credit cards, with the exception of other NatWest Group cards.
Is it the right card for me?
If you want a no-frills balance transfer card that offers breathing space to clear what you owe, the Natwest Balance Transfer credit card could be a good fit.
You can use an eligibility checker to find out what cards you could be accepted for and on what terms before applying.
What are my alternatives?
For those looking for a longer interest-free period, Natwest’s Purchase and Balance Transfer card offers 19 months at 0% and its Longer Balance Transfer card offers 23 months.
However, unlike NatWest’s fee-free Balance Transfer Credit Card, these cards charge 2.99% and 3.49% respectively of the debt being switched over.
It’s a good idea to compare NatWest’s balance transfer cards with the wider market to make sure it’s the best option for you.