NatWest Balance Transfer: Save money with 0% balance transfers

The card offers a combination of benefits that can make your financial life much easier in the short term, especially if you already have other debts on high-interest cards. In this article, we will explain everything you need to know about this financial product: how it works, what the advantages and disadvantages are, how the credit analysis is done and how to apply for yours.

Why we recommend the NatWest Balance Transfer credit card

There are several reasons that make this card an interesting option, especially if your goal is to save on interest and better organize your finances.

One of the biggest draws is that it offers up to 12 months with 0% interest on balance transfers, as long as they are made within 3 months of opening the account. In addition, there is no transfer fee, which is common with similar cards. This means that you can concentrate your debts on a single card and pay less during the promotional period.

Another positive point is that there is no annual fee, and the card can still be used both in the United Kingdom and abroad, anywhere that accepts Mastercard.

Therefore, if you want a card focused on financial balance and that offers advantageous conditions to start with, NatWest Balance Transfer is an option that deserves your attention.

What can I use my credit card for?

The Balance Transfer card can be used for more than just transferring balances. Although this is its main function, it can also be used for everyday purchases, online spending and overseas transactions.

Here are some practical situations in which the card can be useful:

• Transfer debt from high-interest cards to take advantage of the 0% interest period

• Unify balances from multiple cards into one, making control and payment easier

• Make short-term purchases with no interest for the first 3 months

• Shopping in stores or online, inside and outside the UK

• Use as a backup card for emergencies, with no fixed annual fee

Despite the possibility of widespread use, it is important to remember that after the promotional periods, standard interest rates come into effect. Therefore, it is ideal to plan to pay off all debts or purchases within the terms with 0% interest.

Advantages and disadvantages of credit cards

Before making a decision, it is essential to understand both the positive points and the points that deserve attention. Let’s explore each of them separately to make comparison easier.

Benefits of the NatWest Balance Transfer Credit Card

The Balance Transfer card offers a series of benefits aimed mainly at those who want to reduce the impact of interest on their budget. Check out the main advantages:

• Zero transfer fees: you can transfer balances from other cards without paying for it, which generates immediate savings

• Up to 12 months with 0% interest on balance transfers: as long as they are made within the first 3 months after opening the account

• 0% interest on purchases for 3 months: valid for purchases made and paid for within this initial period

• No annual fee: no annual cost to keep the card active

• Available to UK residents with incomes of £10,000 per year or more

• International use: can be used anywhere that accepts Mastercard, both in person and online

• Credit-neutral eligibility check tool: you can find out if you have a chance of approval before you officially apply

• Flexibility in the amount transferred: it is possible to transfer up to 95% of the card limit

• Digital control: simple and practical management through the NatWest app and website

All these conditions make the card attractive for those looking to reduce debts in a practical way and without paying more for it.

Disadvantages of the NatWest Balance Transfer Credit Card

Despite the advantages, it is also important to consider the points that may weigh against it, especially after the promotional period. Here are the main ones:

• Interest rate after the promotional period may be high: the standard rate is 24.9% per year (variable), and may reach up to 29.9% depending on the credit analysis

• Short-term 0% on purchases: the benefit lasts only 3 months and is only valid if the amount is paid off within that time

• The promotional period for transfers starts immediately after opening the card, even if you have not yet made the transfer.

• It is not possible to transfer balance from another NatWest card or cards from the same group: such as RBS or Ulster Bank

• Does not allow transfer of loan or overdraft debts

• Minimum balance transfer amount is £100

These details show that the card is more advantageous when used with planning. Otherwise, the standard interest rates can compromise the initial benefits.

How credit analysis is carried out at NatWest

The credit analysis for the Balance Transfer card takes into account several factors of your financial profile. The good news is that you can check your eligibility before applying, without impacting your credit score.

In the analysis, NatWest assesses:

• Minimum annual income: you must demonstrate an income of at least £10,000 per year

• Credit history: a check is made of your score, previous payments and financial behavior

• Current debt level: debts on other cards, loans and limits already used

• Payment capacity: your potential to cover future expenses on the card

Based on this information, the institution defines:

• Whether the card will be approved

• What will be the credit limit offered?

• What interest rate will be assigned to you?

• How long will you have access to the 0% interest benefit?

Some people may receive a term shorter than 12 months on the balance transfer promotion. The minimum currently offered is 10 months.

Is there a maximum and minimum credit card amount?

Yes, there are minimum and maximum limits for both the credit amount and the amount that can be transferred from other cards. These criteria help maintain the financial security of both parties: the customer and the bank.

Here’s how it works:

• The credit limit assumed in the standard example is £1200. But this amount can vary greatly depending on your financial profile.

• The maximum amount you can transfer from another card is up to 95% of your credit limit.

• The minimum amount for balance transfers is £100

• There is no annual fee or charge to make these transfers.

It is worth noting that, although the credit limit is decided after the analysis, you will have access to this information before finalizing the application, if you use the NatWest eligibility tool.

Want to apply? Learn how to get a credit card right here

If, after reading all the conditions, you think this card suits your financial situation, the next step is to start the application. NatWest offers a practical and secure process, starting with an eligibility check that does not affect your credit history.

During this step, you will receive a forecast of your credit limit and will know whether you will be approved before even completing the official application.

To see more details and start the process safely, simply click the button below.