Natwest Credit Cards

Sad_Dad

I have a current account and savings account with Natwest and I was thinking of applying for their 23 months 0% interest, no fee balance transfer card. This looks like the best balance transfer card available to me at the moment.

I noticed that they also have a 0.5% to 1% Rewards purchase card.

This would be handy to me also.

Does anyone know if you can have both at the same time.

I have had more than one card with other companies before but never had a Natwest card.

Thanks.

PRAISETHESUN

Having a quick look at their website, it seems that these are two different products. There doesn't appear to be anything I can find suggesting you cannot apply for both cards, however I wouldn't advise doing so in rapid succession.

Ben8282

Presumably you are applying for the balance transfer card because you actually have a balance on another card that you need to transfer in the near future?

Sad_Dad

Currently got 12k to transfer on an interest free credit card which is coming to the end of the interest free period. I would also like the cashback card as that would make me about £180 a year.

I have 10k in a Natwest savings account so that should help. I might give them a ring and see if I can get both.

[Deleted User]

If you have £10k in savings why are you not clearing the card down rather than just shuffling the debt around?

RG2015

I currently have both cards but I got the Reward card in 2014 and the 23 month 0% card earlier this year.

I would go for the Reward card and if possible the Reward current account which also gives 2% on household bills and gives a refund the Rewards credit card fee.

I would get these two up and running before applying for the 0% credit card. It just sounds risky to apply for two credit cards from the same bank at the same time.

RG2015

!!! wrote: »

If you have £10k in savings why are you not clearing the card down rather than just shuffling the debt around?

I think the OP is suggesting a stoozing strategy.

Ben8282

Sad_Dad wrote: »

Currently got 12k to transfer on an interest free credit card which is coming to the end of the interest free period. I would also like the cashback card as that would make me about £180 a year.

I have 10k in a Natwest savings account so that should help. I might give them a ring and see if I can get both.

Are you sure that a Natwest savings account is the best place for your savings. How much interest do you get.? Even a regular building society account will probably be paying you more. Chelsea building society, for example, will give you 1.15% on that balance in an instant access account and that's not the best rate around.. What are Natwest paying? 0.2%? Thats an extra £95 pa without the rewards credit card!

Obviously don't apply for both cards at the same time.
I am not sure that an initial credit limit in excess of £12,000 is a realistic expectation even though you obviously already have higher limit(s) than this. Be prepared for this eventuality. In your place I think that I would be very tempted to repay some of this balance before applying for a new card as the amount outstanding on this card is relatively high. 23 months 0% no fee is a very good offer and £12,000 is a large balance. I wish you good luck but something is telling me to be cautious and not expect too much.

RG2015 wrote: »

I think the OP is suggesting a stoozing strategy.

I would agree but stoozing in a Natwest savings account .....

PixelPound

Ben8282 wrote: »

Are you sure that a Natwest savings account is the best place for your savings. How much interest do you get.? Even a regular building society account will probably be paying you more. Chelsea building society, for example, will give you 1.15% on that balance in an instant access account and that's not the best rate around.. What are Natwest paying? 0.2%? Thats an extra £95 pa without the rewards credit card!

Obviously don't apply for both cards at the same time.
I am not sure that an initial credit limit in excess of £12,000 is a realistic expectation even though you obviously already have higher limit(s) than this. Be prepared for this eventuality. In your place I think that I would be very tempted to repay some of this balance before applying for a new card as the amount outstanding on this card is relatively high. 23 months 0% no fee is a very good offer and £12,000 is a large balance. I wish you good luck but something is telling me to be cautious and not expect too much.


I would agree but stoozing in a Natwest savings account .....

It is possible the OP is oldschool and likes to have an emergency pot, so whilst they could clear/reduce the CC wants to have rainy day funds.Maybe point out the article by Martin why it's best to use that pot to clear debt and keep a CC for rainy days.

I doubt having savings would have any impact on getting a CC, different departments and they are likely to go on your credit report over any savings you have. If the OP wants to keep savings, then it's best to look at somewhere and make that work for them.

RG2015

Ben8282 wrote: »

Are you sure that a Natwest savings account is the best place for your savings. How much interest do you get.?

I would agree but stoozing in a Natwest savings account .....

NatWest savings builder at 1.5% for up to £10k. Just need to add £50 per month to get it.

However, anything above £10k needs to go elsewhere. I have about £7k in mine so no danger of losing the 1.5% any time soon and I can move money in and out to my NatWest a/c in seconds on 29 or 30 days in any month if required.

Sad_Dad

Thanks for all your replies.

As mentioned in the post above, I am using the NatWest savings builder account that pays 1.5% up to £10k (strange account with the build by £50 a month and withdraw 2nd last working day). Not great but I will take what I can get.

I am stoozing and have been for the last 5 years. I've been able to make around £1500 a year between myself and my wife, this keeps us under the PSA threshold.

This tax year, with all the savings rate reductions I am looking at about £1000 interest from our saving accounts.

It's probably getting to the the point now where stoozing isn't worth the effort with the lack of good deals and poor savings rates.

It's good to know that you can have both cards from NatWest but probably best not to apply at the same time. What I can do is apply for one of the cards myself and my wife can apply for the other.