Compare Royal Bank of Scotland Credit Cards

Royal Bank of Scotland Credit Cards

Royal Bank of Scotland’s credit card portfolio is a mirror of NatWest’s. As part of the same banking group, Royal Bank of Scotland has a focus north of the border, but it looks to serve customers from all around the UK. It has a rather colourful past, which includes being one of the main banking groups that had to be bailed out by the UK government following the 2008 financial crisis. However, since then it has focused on clearing up the legacy issues it faced and has been solidly profitable since 2017.

Its position as one of the largest banking groups in the UK means that its credit card offers are tailored towards rewarding existing customers, rather than trying to attract new ones with deals and benefits. You won’t find it chasing the top spot on the best buy tables, but that’s not to say there aren’t good deals to be found at Royal Bank of Scotland. It’s just the case that you can only unlock its most attractive deals if you are already part of the bank.

What does Royal Bank of Scotland do well?

Royal Bank of Scotland has a varied portfolio. Here you will find a balance transfer card, travel card, reward cards and even a student credit card. While other providers may muddy the water by giving you several options in one category, Royal Bank of Scotland keeps it simple with only one card focused on each credit card feature.

The lack of fees is a standout feature of a lot of Royal Bank of Scotland cards. Its balance transfer card doesn’t have a fee, which, considering the average balance transfer fee is around 3%, could be a significant saving if you are looking for a balance transfer offer. Similarly, other cards in the portfolio have no foreign transaction fees, which means that you can use the card abroad without incurring any additional costs. And you can even avoid annual fees on its reward cards if you have a corresponding current account with the bank.

That latter point — offering compelling deals to its existing customer base — is really where Royal Bank of Scotland’s strength lies. It looks after its existing customers and seeks to reward them through its credit card portfolio. For example, you can only apply for its balance transfer card if you hold a current account, savings account, credit card or mortgage with the bank. Its reward cards are available to all, but customers who have the corresponding current account have their annual fee rewarded. Meanwhile, its student card is only available to those who hold a Royal Bank of Scotland student account.

Where does Royal Bank of Scotland fall down?

Excluding its student credit card, Royal Bank of Scotland has a demanding eligibility criteria for its credit card portfolio, which may put some of its cards out of reach for the average borrower. Most of its cards have a minimum income requirement, while others require that you are already a customer at the bank.

It also has cards that carry annual fees. These are typically attached to reward credit cards. Sometimes the amount of rewards you earn during a 12-month period can offset the cost of an annual fee, but this will depend on your spending habits and is something you need to consider if you are thinking of applying for one of these cards. This won’t be an issue you if you are a Reward or Reward Black current account customer as your fee can be refunded if you take out the corresponding credit card.

The bank does offer introductory interest free periods, but these are by no means that top of the market. While they are a decent length of time, they aren’t competing for the top of the best buy tables. If you are after a long introductory period for a balance transfer you had best look elsewhere, and if you are after an introductory deal for purchases you will find yourself out of luck.

What will you find in Royal Bank of Scotland’s card portfolio?

Royal Bank of Scotland has competitive offerings if you are a customer. A lot of products are tailored to if you already bank with Royal Bank of Scotland. Meanwhile, if you are looking to avoid fees, then this may be the place for you. The bank’s balance transfer offering if strengthened by the lack of fees, and its standard card has the benefit of no foreign transaction fees. Likewise, there are no fees on its reward cards if you have a corresponding current account and you are looking at a series of attractive offerings.

What you won’t find with Royal Bank of Scotland cards is accessibility. Even if you are a customer at the bank, it also has minimum income requirements and expects applicants to have a good or excellent credit score.

How to apply

Applications can be made online and will take around 10 minutes. You will know if you have been accepted or not within five minutes. You will need to provide your addresses for the past three years, as well as information about your bank account, income and outgoings. Plus information regarding any existing products you hold with Royal Bank of Scotland.

For most of the cards (excluding its Student credit card), in order to successfully apply you need to have a good credit score and an annual income of at least £10,000. For its Reward Black card this increases to £15,000 per year.

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