The Royal Bank of Scotland (RBS) Reward Credit Card Review

Earn 1% back in cash-equivalent Rewards on supermarket spending. Fee waived for RBS Reward Account holders. Flexible redemption options.

Welcome to the RBS Reward Credit Card, the intelligent choice for the responsible UK consumer who demands tangible returns on everyday spending! This card is seamlessly integrated into the Royal Bank of Scotland’s renowned MyRewards programme, allowing you to earn real value back on transactions you make most often. It’s a rewards card designed for practicality, focusing on high-volume spending categories like groceries, where a consistent return can quickly build into a significant annual bonus.

Unlike store-branded cards that restrict your rewards, the RBS MyRewards can be converted directly into cash, giving you the freedom to spend or save as you please! With the ability to eliminate the annual fee simply by banking with RBS, this card offers a compelling, low-cost way to make your credit card usage work harder and smarter for you, providing a continuous, measurable boost to your personal finances.

CREDIT CARD

Royal Bank of Scotland

Earning Rewards Card’s Annual Fee Refunded

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The Royal Bank of Scotland (RBS) Reward Credit Card Benefits 

1. Market-Leading Supermarket Reward Rate: Turn your trolley dash into real cash! You earn a fantastic 1% back in MyRewards on all purchases made at eligible UK supermarkets.
2. Annual Fee Waiver for RBS Customers: Enjoy a truly free rewards card! If you hold an eligible RBS Reward current account, the card’s annual fee (currently £24) is automatically refunded to your credit card account.
3. Flexible Cash Redemption: Rewards in your pocket, not just in vouchers! The MyRewards programme allows you to convert your accumulated Rewards directly into cash and transfer it to any eligible RBS current or savings account, or use it to reduce your credit card balance.
4. High Earning Potential with MyRewards Partners: Unlock exclusive discounts across the high street! Cardholders gain access to the dynamic MyRewards portal, offering 1% to 15% back in Rewards when spending at a constantly updated selection of popular partner retailers, significantly boosting your earning power beyond just the base rate.
5. Option to “Trade Up” for E-Vouchers: Boost the value of your rewards! RBS frequently offers “trade up” options where you can exchange your Rewards for e-gift cards or vouchers at partner retailers, often receiving more than face value (e.g., £10 in Rewards for a £15 voucher). This provides an exciting option to increase your rewards value by up to 50%!
6. Long Interest-Free Period on Purchases: Get up to 56 days of borrowing float! For disciplined users who pay their balance in full every month, the card provides an interest-free period of up to 56 days on new purchases. This is a critical tool for managing short-term cash flow, allowing you time to settle payments without incurring interest.

Who Can Apply:

To apply for the RBS Reward Credit Card, applicants generally must meet the following criteria:

• Age: Must be aged 18 or over.
• Residency: Must be a UK resident.
• Income: Must have a minimum annual gross income of at least £10,000.
• Credit History: Must have a clean credit file (not have been bankrupt in the last six years).
• Application Method: The application is typically started by logging into RBS Digital Banking.

How to Apply:

The application process is easiest for existing RBS customers:

1. Log in to Digital Banking: Log in to your RBS Mobile App or Online Banking portal.
2. Access Credit Cards: Navigate to the ‘Credit cards’ section under ‘Our Products’.
3. Check Eligibility: Select the Reward Credit Card and complete the eligibility check to view your approval odds and likely credit limit (soft search).
4. Complete Application: If you wish to proceed, complete the full application form, which should be partially pre-filled with your existing customer details.
5. Decision and Issuance: Receive a decision quickly, and upon approval, your card will be issued and mailed to your address.

Frequently Asked Questions (FAQ)

1. What is the annual fee for the RBS Reward Credit Card? The card has an annual fee of £24, but this fee is refunded if the cardholder also holds an eligible RBS Reward current account.

2. What is the value of £1 in MyRewards? MyRewards are equivalent to cash, so £1 in Rewards is worth £1 when redeemed as cash into your bank account or credit card balance.

3. What is the reward rate on general spending? General spending on the card, outside of supermarkets and partner retailers, earns a low rate of 0.25% back in MyRewards.

4. Can I use the card to pay off existing debt from another bank? The card does not typically offer promotional 0% interest on balance transfers, so it is not recommended for debt consolidation.

5. What is the fee for using the card abroad? Foreign transactions (non-sterling purchases) incur a fee of 2.75% of the transaction amount.

6. Can I redeem my Rewards as cash? Yes! You can redeem MyRewards as cash and transfer the amount to your RBS current account, savings account, or use it to reduce your credit card balance (minimum £5 in Rewards required).

CREDIT CARD

Royal Bank of Scotland

Earning Rewards Card’s Annual Fee Refunded

APPLY NOW You will be redirected