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NatWest
Build your credit with limits from £250 to £1,500, no annual fee, and 34.9% variable APR. Timely payments may cut your interest rate after 1 year.
The NatWest Credit Builder Card targets individuals looking to improve their credit score or those new to credit. This card features a variable APR of 34.9% and comes with a credit limit between £250 and £1,500, depending on eligibility. Importantly, it carries no annual fee, which is attractive for those mindful of ongoing costs. Eligibility requirements include being a UK resident, aged 18+ with an income of £8,500 or more, and holding a NatWest current account for at least three months. Responsible card use can see your interest rate cut by 3% after 12 months.
How to Apply for the NatWest Credit Builder Card
- Check your eligibility online without affecting your credit score.
- Gather your personal and financial details.
- Apply using your existing NatWest Online or Mobile Banking profile.
- Complete the application in under ten minutes.
- If approved, your card arrives within 5–7 working days.
Key Benefits of the NatWest Credit Builder Card
One major advantage is the absence of an annual fee, making it affordable to hold. Additionally, using the card responsibly may lead to not only improved credit but also a reduction in your interest rate after 12 months.
The application process is quick and easy, with initial eligibility checks avoiding any negative impact on your credit score. The free credit score feature in the NatWest app can further help you track progress.
Potential Drawbacks
The APR of 34.9% is on the high side, especially compared to cards for those with better credit backgrounds. If you carry a balance, interest charges can quickly add up.
Only existing NatWest current account holders of at least three months can apply, excluding new customers to the bank.
Verdict
The NatWest Credit Builder Card is best suited for those who want to rebuild their credit or establish a positive credit history. It’s easy to manage through NatWest’s app and direct debit payments. However, it is less attractive for people with good credit who may qualify for cards with lower APRs and higher rewards. Overall, a practical tool for improving credit if you bank with NatWest.
