A very cost-effective card (Natwest Credit Cards)

Member Name: MichaelR

Product:	Natwest Credit Cards
Date:	30/01/01 (273 review reads)
Rating:

Advantages: Low APR, no annual fee, good cheap insurance, good member benefits.

Disadvantages: Low starting credit limit.

If you read my opinion on credit cards in general, then you will see that I believe everyone can do with card, and there is card out there for everyone.

The NatWest Student MasterCard is the card for me.

It is not the only credit card that I hold, but it is the one that I use the most, and it is my favourite, for a number of reasons.

Basically, it is because this credit card probably offers the best deal of any currently available.

There is no annual fee, and the rate of interest is extremely low at just 11.9% APR on purchases and balance transfers, and 13.6% on cash advances. This represents a very low monthly interest rate of 0.941%.

In addition to this, you can enjoy a months interest free credit if you repay your balance in full.

The fees for various services provided by MasterCard and NatWest themselves are pretty standard, and are as follows:

Cash Handling Charge - 1.5% (minimum £1.50)

Overseas Transactions - 2.75% of sterling value.

Account Over Limit - £15, plus an additional £12 when payment becomes 15, 45,and 75 days late.

Cheque Payment Refused - £5

Change Statement Date - £10

Payment Confirmation Notice - £2

Copy Statements - £5 per 5 or part thereof.

Copy Vouchers - £5 UK; £10 International. No charge if transaction found to be incorrect.

Billing is on time every month, and there are a number of easy payment methods. I always pay over the counter at my branch, because I prefer the security of a paper receipt, but you can also pay on-line, or by sending a cheque directly to NatWest's Card Centre.

There a number of benefits to holding this card. There's a good insurance policy that will protect all your cards (not only NatWest ones) for only £12 per year. They also provide free luggage / key retrieval and numerous benefits while you are travelling.

You can also collect Air Miles with the card (£20
gets you 1 mile) which can be exchanged for a number of popular goods and services as well as used for holidays through Air Miles themselves.

There are also a number of promotions run by NatWest in partnership with retailers on both a fixed and temporary basis that can save you money when you use your card.

MasterCard also run their own promotions in addition to this.

I would recommend this card to anyone, as it is surely one of the cheapest available, both to acquire and to use, and the benefits package is also one of the best available.

On the downside, the credit limit given is quite low, (it starts at £500) but then they aren't going to trust students with £1000's of bank money.... not until you show you can be trusted with it anyway.

Summary: