So, the total amount you'll owe including the fee is £4,487.56. Existing RBS customers can transfer debt from cards that aren't held with the RBS group to enjoy 18 months of 0% interest. While that's some way short of the longest balance transfers (29 months at the time of publishing), those cards all charge transfer fees anywhere up to 2% while the Natwest offer is completely fee-free. ★★★★★ — Excellent★★★★★ — Good★★★★★ — Average★★★★★ — Subpar★★★★★ — Poor. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. (variable). What are Balance Transfer cheques? Your actual credit limit and APR may vary depending on our credit assessment of you. Transfer your balance from one credit card to another. We may also receive compensation if you click on certain links posted on our site. You can request a balance transfer as part of your application. 18. RBS now no longer offer this as a product. Credit card issuers usually charge a balance transfer fee, which can range from 1.00-5.00% of the amount you transfer over (e.g. Please note that the credit limits are tailored to the applicant and will be based on RBS’s assessment of your circumstances. Always consider your own circumstances when you compare products so you get what's right for you. our partners for featured placement of their products or services. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. This card had previously offered a lower 1.5% balance transfer fee on balance transfers. A balance transfer is when you move a credit card balance from one credit card provider to another. There are a number of longer 0% deals than this available on the market (up to 29 months, in fact) but this one comes with the benefit (particularly for those transferring larger sums) of a smaller balance transfer fee than its peers. Finder.com Comparison UK Limited (company number: 10482489) is In this example, the fee will be £87.56. Make as many transfers as you like (min £100 per transfer) as long as you don’t go over your credit limit. Balances will be paid off in the following order: 1. We look at a number of important factors, like the length of the balance transfer offer, the balance transfer fee, any restrictions to making a transfer, plus the potential costs involved with running the card both in the short and longer term. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. Balance Transfer credit card Good for - transferring a balance with a low fee 0% for 18 months from account opening on balance transfers made within the first 3 months, after which standard rates apply 0.49% balance transfer fee applies The RBS group says it's no longer offering 0% balance transfer and 0% purchase credit cards to new customers as it wants to become a much simpler and more trustworthy bank. Credit limits are tailored to the applicant and will be based on RBS's assessment of your circumstances. You cannot transfer a balance from other Bank of Scotland credit cards, loan companies or bank accounts. 18 months’ 0% interest on balance transfers. Balance transfer credit cards usually come with an introductory offer. You can do this through internet banking by selecting "Cards" from the main menu. If you are To enjoy our 0% offer on balance transfers, you need to make your transfers within the first 3 months. Balance transfers are limited to 95% of your available credit limit. First, we'll ask you for the long card number of the card you wish to transfer a balance from. If you already bank with RBS but have card debt elsewhere, this deal lets you transfer the balance to RBS and enjoy a long interest-free period, allowing you to clear debt faster and more cheaply. Any balance you transferred over to the Tangerine Money-Back Mastercard from another credit card will accrue interest at an annual rate of 1.95% (the balance transfer rate). Optional, only if you want us to follow up with you. offer credit facilities from a panel of lenders. Our experts score balance transfer cards to determine their value against similar products on the market. The new NatWest and RBS credit cards. authorised and regulated by the Financial Conduct Authority (firm may also receive compensation if you click on certain links posted on See if you’re eligible with One Check. Your RBC Royal Bank Credit Card Agreement explains the terms under which you use your RBC Royal Bank credit card. The NatWest/RBS balance transfer credit card will help you avoid interest on your debt for 23 months. if you are transferring a balance of $10,000 and the transfer fee is 3%, you’ll be charged $300 for the switch). We keep our reviews completely factual so you can use them to make better decisions. While we are independent, we may receive compensation from Here are some offers that might apply to you. Add your annual income, requested credit limit and the last 5 digits of your card. Next, divide £4,400 by 100, then times by 1.99. This is to allow for any balance transfer fee plus any other fees or transactions. Business credit card / Business Plus credit card customers: If a Direct Debit is set up to claim the full statement balance, any additional payments that reach your account up to 3 full working days before the due date will reduce or cancel out the amount claimed by the Direct Debit. Fees. Finder rating: ★★★★★ our site. In his spare time Chris likes forcing his kids to exercise more. A balance transfer card can be a powerful tool in your debt-busting arsenal. First, you'll need to make a note of the fee to transfer a balance (if there is one). We are a credit broker and not a lender and finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. reference number: 786446). You can arrange a direct debit for repayments when you apply for the credit card. service provider and read the information they can provide. If it's good news, you can then proceed to Royal Bank of Scotland's online application, which takes 10-15 minutes to complete. iPhone users will also be pleased to hear all RBS cards are compatible with ApplePay. You can read more about our scoring criteria on our credit card methodology page. By taking advantage of a 0% APR offer on a credit card, you can save … You'll then need to decide how much you want to transfer. Approval for any credit card will depend on your status. While we may receive revenue and referral fees from advertising and affiliate links, advertisers do not approve our reviews. Available to existing current account, mortgage, savings or credit card customers. You'll be able to transfer up to 95% of your available credit limit. Chris Lilly is a publisher at finder.com. Swap your credit card We endeavour to ensure that the information on this site is current and finder.com is a financial comparison and information service, not a bank or product provider, We cannot provide you with personal advice or recommendations, How to apply for the Royal Bank Balance Transfer Credit Card, 0%, transfers must be made within the first 3 months of account opening, 0% for 3 months reverting to 19.9% p.a. View your credit card balance and available credit whenever you want and get the most up to date view with Digital Banking or via the Mobile App. The RBS Longer Balance Transfer credit card certainly lives up to its name – … Remember that if you don’t clear your balance in full within the 18 months, any outstanding balance will start to accrue interest at the card’s standard rate (this “revert” rate may be higher than the advertised rate, depending on RBS’s assessment of your circumstances). This won't impact your credit score. To make a balance transfer, please use our mobile app or call the number on the back of your card and we will be able to do this over the phone. A balance-transfer deals allows you to shift existing debt from an expensive credit card to one with an interest-free period. Get a second credit card. Payments will be assumed to be made at either 3% of the total outstanding balance or £5, whichever is the higher. RBS credit cards are issued by Mastercard, one of the biggest credit card providers in the world. Balance Transfer fees will be added to the balance transfer balance on the card. that aims to provide you with the tools you need to make better At Finder, we value and respect our editorial independence. You may find it useful to use our credit card repayment tool (opens in a new window). finder.com is an independent comparison platform and information service If you have more than one credit card, Balance Transfer cheques can help you consolidate your debts by allowing you to transfer the outstanding balance from one card-like a higher interest card from a department store or service station-to a lower interest rate RBC Royal Bank credit card. Data Protection ICO registration number: Its new deal is the Clear Rate Platinum credit card, which charges 6.9% rep … Thomas St, London, SE1 9RG. This means you'll need to repay £195.11 per month to pay off the card before the 0% offer period ends. I do this regularly, pay it off and do it again when necessary. A direct debit protects you from forgetting to make a repayment and losing your promotional interest rate as a result (as well as damaging your credit score and incurring the late payment fee of £12). ZA227007. Royal Bank of Scotland (RBS) likes to reward its existing customers, and that’s exactly what it has done with its Longer Balance Transfer Card. However, if you buy something new with the Tangerine Money-Back Mastercard, that purchase will accrue interest at 19.95% (the purchase interest rate) - not 1.95%. Credit Card Assumptions. Our address is Level 2, 20 St Applicants with low credit scores may be eligible, Over a year of 0% interest to focus on reducing existing card debt, Three months to spread the cost of purchases, Minimum annual income requirement of £10,000. unsure you should get independent advice before you apply for any There are a number of different ways that a Royal Bank of Scotland credit card bill can be paid. Finally, select "submit". While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. VAT number: 259751759. You can make manual repayments through Royal Bank of Scotland's app, by logging in to your online banking or over the phone (0345 724 2424). The Royal Bank Balance Transfer Credit Card (eligibility criteria apply), By submitting, you agree to the Finder Privacy and Cookies Policy and Terms of Use. Purchases, 2. Our eligibility checker allows you to find out whether you'll be accepted before you apply with us. If you are an existing customer, you probably already use the RBS app and will be glad to know that, yes, you can track your card using the app (you can even lock and unlock it from the app). You’ll be able to transfer up to 95% of your available credit limit. You can contact Co-op Bank to carry out a range of transactions or make changes to the details on your credit card account between 8am and 8pm, 7 days a week, 365 days a year. With the new NatWest Balance Transfer Credit Card and RBS Balance Transfer Credit Card… Find out more and apply Longer term repayment arrangement If your circumstances are unlikely to improve in the next 3 months, a longer term solution may be more appropriate for you. We Learn about features and benefits, rewards, cardholder documentation, card management tools, apps and more. We show offers we can track - that's not every product on the market...yet. You can apply for a credit card payment break for 3 months and pay £1 or more into your credit card account based on what you can afford during the break period. If you already hold a mortgage, credit card, savings or current account with NatWest, this deal lets you transfer that debt across to NatWest and benefit from a lengthy 0% interest period. accurate but you should confirm any information with the product or How can I do a balance transfer to my credit card? London, SE1 9RS. If you're paying interest on other credit cards or store cards, you could save money by transferring your balance to one of our balance transfer credit cards. Then, you can repay eligible credit card purchases or expired 0% balance transfer offers between £100 … Rate Offers You could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 18 to see what you'll need to pay each month (this assumes you don't use the card for additional spending). Help with registering for digital banking, To apply, you must hold a current account, savings account, credit card or mortgage with Royal Bank of Scotland, be a UK resident, aged 18+ and earning at least £10K per year, Good for - more time to pay your balance off, You can transfer your balance from most credit cards and store cards, except other. You can transfer your balance from most credit cards and store cards, except other NatWest Group cards. It's always wise to check the terms of any deal before you borrow. Balance Transfers. Credit cards you can't transfer a balance between: Capital One: Capital One, Littlewoods, Luma, Ocean, Post Office (cards issued after November 2019), Thinkmoney and Very: HSBC: First Direct, HSBC, John Lewis Finance and M&S Bank: NatWest: NatWest, Royal Bank of Scotland (RBS… If you already bank with RBS but have card debt elsewhere, this deal lets you transfer the balance to RBS and enjoy a long interest-free period, allowing you to clear debt faster and more cheaply. Enjoy the benefits of having a Bank of Scotland credit card. Minimum balance transfer amount is £100. In this example, we'll show you how much you would need to repay if you transferred £4,400 to our Longer Balance Transfer Card. Transfer money from your credit card to your bank account. One way to begin is to transfer balances from higher interest credit cards to an RBC Royal Bank credit card. The Royal Bank Balance Transfer Credit Card is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories. 0% for 23 months from account opening on balance transfers made within the first 3 months, after which standard rates apply. (Mobile app criteria apply). In the "Manage your personal credit card" section select "Manage your credit card limit". And that makes sound financial sense. Balance transfers cannot be used to pay any RBC Royal Bank credit card account or used for pre-authorized payments. Existing NatWest customers can transfer debt from cards that aren't held with the RBS group to enjoy 18 months of 0% interest. The following options are available for current account holders, if you are a credit card only customer please arrange a payment through your own bank. As long as it's approved, RBS states your shiny new card will be with you in 5-7 working days. Balance Transfer credit card Good for - transferring a balance with a low fee 0% for 18 months from account opening on balance transfers made within the first 3 months, after which standard rates apply 0.49% balance transfer fee applies If you'd rather wait until after you've applied to do a balance transfer, you can use the Royal Bank mobile app, or call the number on the back of your card. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. The HSBC balance transfer credit card offers new customers 0% interest for 25 months on balance transfers, with a 2.85% balance transfer fee (minimum £5) and a representative 21.9% APR (variable). Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Lastly, divide £4,487.56 by 23 (the offer period). See the monthly repayments needed to pay off your balance in full before the 0% offer ends. The minimum balance you can transfer is £100. Please call customer service for up-to-date information on your credit card account. Find both on the "Account summary" page within the "Personal accounts" table along side your credit card number. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. When you make major financial decisions, consider getting independent financial advice. See more information on RBC Royal Bank credit cards. Fees and rates are subject to change without notice. decisions. First, you can use Finder's eligibility checker to find out if you'd be likely to get approved for The Royal Bank Balance Transfer Credit Card. You will need the Royal Bank mobile app to set up, track and manage an Instalment Plan. The advantage is that you will then have a lower interest, single monthly payment to manage. 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Or £5, whichever is the higher more about our scoring criteria on site! Depend on your credit card personal circumstances the APR shown represents the interest rate to! Receive revenue and referral fees from advertising and affiliate links, advertisers do not approve reviews! Allowed to transfer up to 95 % of your available credit limit and the last 5 of! From one credit card account our eligibility checker allows you to find whether... Offer this as a product request a balance transfer fees will be added to applicant... You to shift existing debt from an expensive credit card customers 2, 20 St Thomas St London! Application has been approved within 5 minutes of submission can range from 1.00-5.00 % your! Can use them to make your transfers within the first 3 months posted on our credit will... In your debt-busting arsenal be £87.56 to repay £195.11 per month to pay off the before... 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