Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • RG2015
    • By RG2015 13th Oct 18, 8:57 AM
    • 1,404Posts
    • 869Thanks
    RG2015
    NatWest Reward credit card
    • #1
    • 13th Oct 18, 8:57 AM
    NatWest Reward credit card 13th Oct 18 at 8:57 AM
    I have just noticed on my statement that the interest rate on my current balance is at a special rate of 2.892% pa compared with the usual rate of 12.192 pa. I checked my previous statements and discovered that this was changed for purchases since 1st August but without any notification to me.

    I always pay the full balance so this is academic although is does seem strange that NatWest did not specifically advise me of this.
    Last edited by RG2015; 13-10-2018 at 11:20 PM. Reason: Correcting a spelling mistake.
Page 1
    • Gary_Dexter
    • By Gary_Dexter 13th Oct 18, 9:12 AM
    • 2,397 Posts
    • 1,337 Thanks
    Gary_Dexter
    • #2
    • 13th Oct 18, 9:12 AM
    • #2
    • 13th Oct 18, 9:12 AM
    Ask them why?
    • RG2015
    • By RG2015 13th Oct 18, 9:40 AM
    • 1,404 Posts
    • 869 Thanks
    RG2015
    • #3
    • 13th Oct 18, 9:40 AM
    • #3
    • 13th Oct 18, 9:40 AM
    Ask them why?
    Originally posted by Gary_Dexter
    Yes, I might do that although the thought of being on hold for ages to talk to a customer services person who then needs to check with someone else does not appeal to me. And all this for something I am not really bothered about.

    Also, every time I phone NatWest they always end up asking if I want to raise a complaint just so they can get rid of me.
    • T-G-C
    • By T-G-C 13th Oct 18, 8:37 PM
    • 458 Posts
    • 212 Thanks
    T-G-C
    • #4
    • 13th Oct 18, 8:37 PM
    • #4
    • 13th Oct 18, 8:37 PM
    There is no legal obligation for them to inform of this, as it is a promotional offer of a reduced interest rate, not an interest increase or other credit agreement change, although it would have been decent of them to do so, I must agree on that point. I would have noticed in August, as I check these with some glimmer of hope, although some people do not have this privilege, as reiterated below.

    There is no negative impact from this and should be grateful for being a valued customer, as there are people out there being charged 59.9% APR on their balance for not being accepted with mainstream banking products.
    Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.
    • RG2015
    • By RG2015 13th Oct 18, 10:03 PM
    • 1,404 Posts
    • 869 Thanks
    RG2015
    • #5
    • 13th Oct 18, 10:03 PM
    • #5
    • 13th Oct 18, 10:03 PM
    Thanks T-G-C.

    I have regularly used a NatWest credit card of some sort for 40 years and never paid a penny in interest so this special rate is wasted on me. As ever, NatWest continue to surprise me.
    • SnowTiger
    • By SnowTiger 14th Oct 18, 1:48 AM
    • 3,478 Posts
    • 2,443 Thanks
    SnowTiger
    • #6
    • 14th Oct 18, 1:48 AM
    • #6
    • 14th Oct 18, 1:48 AM
    I have just noticed on my statement that the interest rate on my current balance is at a special rate of 2.892% pa compared with the usual rate of 12.192 pa. I checked my previous statements and discovered that this was changed for purchases since 1st August but without any notification to me.

    I always pay the full balance so this is academic although is does seem strange that NatWest did not specifically advise me of this.
    Originally posted by RG2015
    Me too! On My old-style Natwest Platinum card.

    It's listed at the bottom of my August statement - special offers: 0.158% monthly interest; 1.896% APR.

    Interest on September's statement is back to normal.

    I did notice it, but wondered if I'd missed a notification from them.

    It seems odd they didn't make a fuss about it and only slashed interest for one month.
    • RG2015
    • By RG2015 14th Oct 18, 8:50 AM
    • 1,404 Posts
    • 869 Thanks
    RG2015
    • #7
    • 14th Oct 18, 8:50 AM
    • #7
    • 14th Oct 18, 8:50 AM
    Mine was on three statements, August, September and October.
    • SnowTiger
    • By SnowTiger 14th Oct 18, 1:38 PM
    • 3,478 Posts
    • 2,443 Thanks
    SnowTiger
    • #8
    • 14th Oct 18, 1:38 PM
    • #8
    • 14th Oct 18, 1:38 PM
    Mine was on three statements, August, September and October.
    Originally posted by RG2015
    I've only seen it on my August statement.

    Having said that, there was no spend on my September statement and I won't receive October's until the end of this month.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

20Posts Today

4,221Users online

Martin's Twitter
  • I'm v moved by many of ur comments on #10Things tonight. Very thankful it was seen in the spirit it was meant. I'm? https://t.co/JaeoPqIczM

  • RT @MartinSLewis: Many asking about the free finanacial education textbook for schools - it's out in a couple of weeks - here's info https:?

  • RT @psychotherapyMM: @MartinSLewis ?there?s a sacrifice? Most valuable point tonight. Success (however that looks) does not come easy. Nobo?

  • Follow Martin