Good, but I have one piece of advice! (Natwest Credit Cards)

Member Name: oxjdc

Product:	Natwest Credit Cards
Date:	18/08/05 (842 review reads)
Rating:

Advantages: interest free credit, planned payment for purchases

Disadvantages: higher interest rates than loans, not integrated with natwest

Overall, I've been very happy with my NatWest credit card since getting it to tide me over between graduating and getting a proper job (I was kind of amazed that they gave me a card when I was just temping, but I've found out a lot more since then about how easy it is to get credit). From £1100 credit limit I am now at just over three times that.

I haven't really used it to borrow money except for a brief period to make sure I had enough to pay for my deposit when buying a flat. The interest rate isn't cheap, but at about 1% a month it means you can have a spare £2000 for a while for only £20 a month (minimum repayments of about £70 if I remember rightly).

The card also been useful for enabling me to make direct debit payments without keeping too much money in my current account, and for online shopping. If you make your purchase at the right time it also provides you with almost two months of interest free credit before you have to cough up. The card balance can also be managed through NatWest online banking, which is a bonus.

One word of caution though - when I moved house I went into my local NatWest and told them my new address, and everything seemed to be fine. Then the new washing machine and sofa I'd bought online with my card didn't arrive. I re-orded them, same problem.

I phoned the retailers and they had no record of me even having ordered them. Eventually it turned out my card had been queried and the orders cancelled without anyone telling me, because I didn't live at the address stated on the card. Why? Because NatWest cards are completely separate from NatWest (apparently) and aren't allowed to share address details, so my branch never told the card people I'd moved.

Seems a bit odd to me. I'm kind of glad to be secure, but I don't think many fraudsters order washing machines for home delivery! But I'm still happy with them by and large, even if always tempted to build up a huge balance then move to a 0% offer, but then I decide I don't want the complications.

Summary: Useful to have, very secure, make sure you tell them you've moved!