Natwest Cashback Card

twinkey

Looking for a decent cashback card. Is it worth applying for the Natwest one? There is a £24 annual fee but since I'll be putting all my spending on it, I'll still come out with extra money.

Anyone here have the card? Any thoughts?

The others I've looked at (Capital One, Nationwide) are 0.5% at best. At least with Natwest you get a little more. I also don't want the Asda one as I don't shop there. Same goes for Tesco and M&S. I'd like one that could be used at many places. Don't really want to go with Santander either as I've had a bad experience with them in the past.

edit; I don't think I'd qualify for the America Express cashback card either!

PeacefulWaters

How much is "all your spending"?

What is the rate of cashback?

twinkey

PeacefulWaters wrote: »

How much is "all your spending"?

What is the rate of cashback?

Petrol, weekly shop, train tickets, online purchases, ect. Around £800 - £1200 p/m Also, I have no other debts so I won't be using the B/T option. The card will be paid in full via DD every month.

1% on ALL supermarket shopping (excluding petrol forecourts)
At least 1% on ALL shopping at Cashback Plus retailers
1% on ALL contactless transactions until 31st March 2015
0.5% on ALL other purchases at home and abroad
No balance transfer fees - just one £24 annual fee

thebritishbloke

Your first "all spending" was petrol, you're only getting 0.5% on that using that card, whereas a Santander 123 card would pay 3% for the same £24 fee.

planteria

yes, i would have thought Santander would be a better deal for your than NatWest.
but i don't use either: i have AmexCB and CapOneElite 'in my wallet':)

colsten

I would also recommend the Santander 123, alongside the 123 current account. I know the OP said they made a bad experience with Santander in the past but I have had both the current account and the CC ever since they get launched several years ago and never had any problem. I do, however, always pay off my CC in full every month, and never go anywhere near the overdraft I have on the current account.

If you have the current account, you get the first year of the CC free. The current account does cost £2 a month but I make around £10 a month in Direct Debit cashback so both the current account and the CC are essentially free for me.

Plus you can get Quidco cashback for both, applications for the CC and for the current account. And there are no fees for foreign transactions as I am a Santander Select customer now. I think the Select service is by invitation only although you may be able to get it by calling them.

I can't see how the Natwest card could come even close in terms of earnings potential.

Having said all this, the 123 CC is not the only card I have, for two reasons. Mainly, I want at least one other CC, just in case the 123 doesn't work for whatever reason (never happened yet). But also because there are limits to the 123 cashback, such as max £300 petrol/travel (£9 cashback) a month, and no cashback at all outside petrol/travel, supermarkets and department stores. I have a Barclaycard Amex (1% on everything) for these purposes, and a couple of 0.5% ones, too.

bonjan

Santander 123 indeed. For the same £24 fee:

twinkey wrote: »

1% on ALL supermarket shopping (excluding petrol forecourts)

1% on supermarkets plus 3% on petrol and trains and London transport.

twinkey wrote: »

At least 1% on ALL shopping at Cashback Plus retailers

That's a limited range of retailers, 123 pays 2% on department stores. It depends on where you spend your money.

twinkey wrote: »

1% on ALL contactless transactions until 31st March 2015

That goes away in half a year.

twinkey wrote: »

0.5% on ALL other purchases at home and abroad

You can get that combining 123 with another fee free cashback card.
For purchases abroad Aqua Reward does not levy a forex fee.

twinkey wrote: »

No balance transfer fees - just one £24 annual fee

18 months 0% on new spending (so no BT fee). If you have existing balances take advantage of that and focus your payments on the existing debt instead.