Kymbo 2

Kymbo2

Can anyone out there tell me the difference between the old style Gold Plus which I have had for over 20 years and the Black Account with Nat West. My most burning question in relation to the 2 is travel insurance as I have a per- existing medical condition , which is covered on Gold Plus but would have to pay more with Black.
Thanks

Agricolae

Kymbo2 wrote: »

Can anyone out there tell me the difference between the old style Gold Plus which I have had for over 20 years and the Black Account with Nat West. My most burning question in relation to the 2 is travel insurance as I have a per- existing medical condition , which is covered on Gold Plus but would have to pay more with Black.
Thanks

The Gold Plus account/service has been off sale since (I think) the early or mid 1990s.

If you still have it, it's actually a pretty good package in terms of the banking benefits. You have a very very preferential overdraft rate which I think would be set at £10,000 as standard? The interest rate on that is pegged at the base rate + 6.75%, so 7.25%.

Considering that most overdrafts these days are around 17-19% EAR, you are getting a fantastic rate on a legacy product so long as the base rate stays low.

As for the insurance policies you'd have to call Natwest and try getting through to their Gold Plus Card services department, who can then send out a paper copy of the benefit details. You can then check these against those of the Black Account (the T&Cs of which are available online).

I wish you the best of luck in getting through to the right department. There are very few Gold Plus accounts left and considering that most staff (especially in customer services) will not have been around when Gold Plus was still on sale, you may struggle to find someone who can help.

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Summary:
Gold Plus: £10,000 unsecured overdraft at base rate + 6.75%
Black: £???? unsecured overdraft at 14.89% EAR (you may be re-assessed for your need/ability to sustain a £10k overdraft)

Insurance: Due to the Gold Plus insurance details no longer being published anywhere you're best off obtaining the most recent copies of the terms and conditions by calling Gold Plus Card Services.