Savings Accelerator Credit Card

Your Savings Accelerator Credit Card is linked to a NatWest First Reserve Savings Account and the more purchases you make on your Savings Accelerator Credit Card, the more you may be able to boost the interest rate you earn on your savings. You will need to open a First Reserve savings account at the same time as you apply for the Savings Accelerator Credit Card.

Quite simply, all you have to do is use your Savings Accelerator Credit Card to make purchases.

The balance in your Savings Accelerator savings account will earn an interest rate of 0.1% Gross/AER (variable) but you could earn additional bonus interest of up to 2% Gross depending on your Equivalent Monthly Spend. This bonus will be automatically applied in addition to the standard interest rate and such interest will be paid quarterly.

Every quarter we’ll calculate your Equivalent Monthly Spend for the last 90 days. The Equivalent Monthly Spend is your total spend on purchases over a period of 90 days divided by 3 and rounded to the nearest pound. The first 90 day period over which an Equivalent Monthly Spend is calculated will commence on the date that you open your Savings Accelerator Credit Card and Equivalent Monthly Spend will be calculated for each consecutive 90-day period thereafter.

For example, if you spend £450 on purchases over the 90 day period, your Equivalent Monthly Spend would be £150. Your Equivalent Monthly Spend is then used to determine whether you qualify for bonus interest on your savings account over that quarter (see below). A £150 Equivalent Monthly Spend would put you in band 1 so you'd earn a bonus of 0.5% Gross in addition to the standard interest rate (currently 0.1% Gross/AER) over that quarter which would give you an overall interest rate of 0.6% Gross/AER

How about an introductory bonus to get you started? For the first 90 days from opening the Savings Accelerator Credit Card you could enjoy a bonus rate of 2% Gross on your savings account regardless of your Equivalent Monthly Spend. To qualify for this introductory bonus you must make a purchase on your Savings Accelerator Credit Card within the first 45 days of opening the Savings Accelerator Credit Card account.

We may end any introductory offer if you do not pay on time or stay within your credit limit.

The following is for illustrative purposes only. Earnings are based on having a balance of £3,000 in your First Reserve savings account and applying the bonus interest rates according to the level of Equivalent Monthly Spend on your credit card.

Interest paid quarterly.
Last updated on: 24 Jul 2009.

Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts which illustrates what the gross credit interest rate would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.

Gross Rate. This means the interest rate you are paid before the deduction of income tax.

Net Rate. This means the interest rate you are paid after the deduction of income tax.

Manage your credit card online

Check your balance or make a payment from your computer.

Worry-free payments

A Direct Debit means you’ll always pay your bill on time. Settle the balance in full or make the minimum payment. However, we don’t recommend just making the minimum payment and you must have sufficient funds to pay your direct debit successfully.

Credit limit increase

You can ask us to review your credit limit after you’ve had the card for six months.

Move funds to a bank account

You can transfer money from your Savings Accelerator Credit Card to any UK bank account. You simply pay your money transfer rate from the date of the transfer, and the minimum transfer is £250. See our rates and charges.

Cash advance

Your Savings Accelerator Credit Card gives you access to £300 each day, from cash machines around the world. The amount you can withdraw depends on your credit limit, and there’s a 3% handling fee - a minimum of £3.

Purchases

For 6 months from account opening you’ll pay 0% interest on your purchases.

After the introductory period, your purchases will be charged at your standard rate. For more about purchases – see our rates and charges.

Transfer your balances

Why not consolidate your existing debt into one easily manageable sum by transferring balances from your existing cards to your NatWest Credit Card. Transfers from other Royal Bank of Scotland Group cards are not permitted.

There is no fee and so your transferred balances will just be charged at your standard rate. Find out more about balance transfers – see our rates and charges.

Transfer up to a limit of 95% of your credit limit

If your new Savings Accelerator Credit Card has a limit of £2000, you could switch up to £1900 of your existing balances.

We may end any introductory offer if you do not pay on time or stay within your credit limit

Interest-free period every month

If you pay your balance (and your previous month's balance) in full and on time each month you'll enjoy up to 56 days' interest free credit on all purchases.

No annual fee

We don’t send you a bill just for choosing a Savings Accelerator Credit Card.

1% discount on the APR

If you also have an Advantage Gold current account you are guaranteed a 1% initial discount on our standard credit card rate for at least 12 months. Rates variable.

Add another cardholder

Who do you know that would really appreciate being on your credit card account? Just remember that although they’ll be able to spend on your account, you’ll always be responsible for the card.

NatWest Wine Club

Look out for cardholder-only offers, as well as the occasional free gift.

NatWest Travel Service

Book holidays and work trips with a great choice of discounts, including air tickets and hotels.

We may end any introductory offer, including any balance transfer offer, if you do not pay on time or stay within your credit limit.

You can download the summary box for the Savings Accelerator Credit Card as a PDF.

• Savings Accelerator Credit Card Summary Box (PDF File 24KB)

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The NatWest Savings Accelerator Credit Card is available subject to approval, only to persons with an income of at least £10,000 p.a., and aged 18 or over, and who hold a NatWest First Reserve savings account. These services are for the attention of UK residents only and are only available in the UK. Please view Summary Box for important information on interest and charges.

Please visit your nearest branch to apply.

Please view the terms and conditions which apply to the savings account.

We may end any introductory offer if you do not pay on time or stay within your credit limit.

The information you provide will be subject to a credit search with a credit-scoring bureau. Each time a credit search is conducted it is recorded against your details held at the credit-scoring bureau.