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

Earn 1% back at UK supermarkets & up to 15% at MyRewards partners. Annual fee is waived for Reward Current Account holders.

CREDIT CARD

Royal Bank of Scotland

Earning Rewards Card’s Annual Fee Refunded

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Prepare to turn your everyday household spending into a valuable source of income with the exciting RBS Reward Credit Card! This card is perfectly tailored for the practical spender who wants a consistent, measurable return on their most regular expenditure—groceries! Imagine earning a substantial 1% back in MyRewards on all eligible supermarket purchases, a rate that quickly adds up over the course of a year.

Best of all, these Rewards are incredibly flexible: redeem them as cash into your bank account, trade them up for e-vouchers, or donate them to charity! As an existing RBS Reward Current Account holder, you can even get the annual fee completely waived, turning this card into a genuinely zero-cost rewards machine!

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

Pros 

• Accelerated Supermarket Rewards: Earn a high 1% back in MyRewards on all eligible supermarket spending.
• Flexible Rewards Redemption: Rewards can be redeemed as cash transferred to your bank account, gift cards, or charity donations.
• Annual Fee Waiver: The annual fee is refunded if you hold an eligible RBS Reward current account.
• RBS MyRewards Partner Offers: Access exclusive deals, often earning 1% to 15% back at selected retailers.
• No Fee for Additional Cards: Add supplementary cards for family members at no extra cost to boost reward earnings.
• Generous Interest-Free Period: Purchases benefit from up to 56 days of interest-free credit when the balance is paid in full.
• Check Eligibility Risk-Free: Use the online tool to check your likelihood of approval without impacting your credit score.
• Clear Rewards Value: Rewards have a simple value: £5 in Rewards equals £5 in cash (or more when traded up).

Cons 

• Annual Card Fee: A £24 annual fee applies if you do not hold an eligible RBS Reward current account.
• Low General Spending Rate: The reward rate on non-supermarket spending is low (typically 0.25%).
• Foreign Transaction Fee: Non-sterling transactions incur a foreign usage charge (typically 2.75%).
• No 0% Promotional Offers: The card typically lacks introductory 0% deals for purchases or balance transfers.
• High Representative APR: The variable APR is high (Representative 31%) if you carry a balance month-to-month..

Why You Should Consider This Card?

This card is tailor-made for the financially astute UK consumer who knows that consistently earning 1% back on groceries quickly leads to significant annual savings. By making this card your designated supermarket spender, you ensure that every pound spent on food and household essentials is actively generating cash back, a benefit that few competitors can match on this high-volume spending category. For RBS customers who can easily qualify for the annual fee waiver, this card becomes a zero-cost loyalty machine that effortlessly puts money back into your bank account!

You are not trapped into redeeming points for restrictive vouchers; instead, when you hit the £5 threshold, you have the exciting choice to convert your Rewards directly into cash transferred to your bank account, making it instantly available for anything you need! Alternatively, you can take advantage of the “trade up” option for retail gift cards, sometimes boosting the value of your Rewards by 50%! This transparency and flexibility—combined with the strong security of a major bank and the up to 56 days interest-free float—make the RBS Reward Credit Card a superior tool for everyday household expense management and a thrilling way to give your budget a reliable boost year after year!