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Requirements for the RBS Purchase & Balance Transfer Card

The Royal Bank of Scotland Purchase & Balance Transfer Card has specific eligibility requirements designed to ensure responsible lending. Understanding these criteria before applying will help you determine if you're likely to be approved and prepare the necessary documentation for a smooth application process.

RBS Purchase & Balance Transfer Card Requirements

How to Qualify for the RBS Purchase & Balance Transfer Card

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Age requirement: You must be at least 18 years old to apply for this credit card. This is a standard FCA regulatory requirement for all credit products in the United Kingdom.
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UK permanent residency: You must be a permanent UK resident with a verifiable UK address. RBS will require proof of your current address and may request your address history for verification purposes.
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Minimum annual income: You must earn at least £10,000 per year from employment, self-employment, pension, or benefits. This income requirement ensures affordability and responsible lending practices.
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Credit history considerations: RBS will conduct a credit check to assess your creditworthiness. Whilst a good credit score improves your approval chances, RBS considers your overall financial situation including existing credit commitments and payment history.
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No recent bankruptcy: You must not have been declared bankrupt within the last 6 years. This applies to both individual applications and joint account holders if you have a joint account with RBS.
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Free eligibility checker: RBS offers an online eligibility checker that performs a soft search to indicate your likelihood of approval without affecting your credit score. This preliminary check is visible only to you and not to other lenders.

Required Documentation

When applying for the RBS Purchase & Balance Transfer Card, you'll need to provide various documents to verify your identity, address, and financial circumstances:

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Proof of identity: Valid UK passport, UK driving licence, or other government-issued photo identification. For online applications, you may be asked to verify your identity electronically through RBS's secure verification system.
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Proof of address: Recent utility bill (gas, electricity, water, council tax) dated within the last 3 months, bank statement, or mortgage statement showing your current residential address. The address must match your application details.
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Proof of income: Recent payslips (typically last 3 months), P60 or tax return for self-employed applicants, pension statements, or benefits letters. This documentation verifies you meet the £10,000 minimum annual income requirement.
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UK bank account details: You'll need your UK bank account sort code and account number for setting up Direct Debit payments. This is also required to receive any balance transfer funds if applicable.
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Balance transfer information: If you plan to transfer existing balances, you'll need the account numbers and outstanding balances for the cards you're transferring from. Remember, you cannot transfer from other NatWest Group cards.

Understanding the Costs

Representative 24.9% APR (variable). Representative example: The assumed credit limit is £1,200 with a purchase rate of 24.9% p.a. (variable) and an annual fee of £0. Your actual credit limit, APR, and 0% promotional periods will be determined based on RBS's credit assessment of your individual circumstances.

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0% promotional periods: Purchases: 0% interest for up to 20 months from account opening. Balance transfers: 0% interest for up to 18 months from account opening, with transfers needing to be completed within the first 3 months.
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Balance transfer fee: 2.99% of the amount transferred. This fee is added to your balance and is also subject to the 0% promotional rate if completed within the qualifying period.
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Standard interest rates: After your promotional periods end, the standard purchase rate of 24.9% p.a. (variable) applies. Your actual rate could be up to 29.9% p.a. (variable) depending on your credit assessment.
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Annual fee: £0 - this card has no annual fee, helping to maximize your savings and keeping costs transparent.
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Other charges: Standard fees may apply for cash withdrawals, foreign transactions, and late payments. Review RBS's Summary Box and terms and conditions for complete fee information.
Understanding Credit Card Interest Rates

Benefits and Features

Once approved, you'll benefit from a range of features designed to help you manage your credit effectively:

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Dual promotional offers: Benefit from both 0% on purchases and 0% on balance transfers, providing comprehensive financial flexibility in one card.
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Digital banking access: Manage your account 24/7 through RBS's online banking and mobile app, with instant access to your balance, transactions, and statements.
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Contactless payments: Quick and secure contactless technology for purchases under £100, with full fraud protection on all transactions.
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Security features: Comprehensive fraud monitoring, instant transaction notifications, and zero liability for unauthorized transactions provide peace of mind.

Application Process

Applying for the RBS Purchase & Balance Transfer Card is straightforward, with multiple application options available:

Step 1: Check Your Eligibility

Use RBS's free online eligibility checker to see if you're likely to be approved. This soft search takes less than 10 minutes and won't affect your credit score. The checker will indicate if you're likely to be accepted and show what terms you might receive.

Step 2: Complete Your Application

If your eligibility check is positive, you can proceed with a full application online, by phone, or by visiting an RBS branch. You'll need to provide personal details, employment information, income details, and your address history for the last 3 years.

Step 3: Credit Assessment

RBS will conduct a full credit check and assess your application. This hard search will appear on your credit file and may be visible to other lenders. The assessment considers your credit history, income, existing commitments, and affordability.

Step 4: Receive Your Decision

Many applications receive an instant decision, though some may require additional verification and take up to 14 days. If approved, you'll be informed of your credit limit, exact promotional period lengths, and your specific APR.

Step 5: Activate Your Card

Once approved, your card typically arrives within 5-10 working days. Activate it online, through the mobile app, or by phone. If you're planning balance transfers, submit your transfer requests within the first 3 months to qualify for the promotional rate.

Frequently Asked Questions

Can I transfer balances from other NatWest Group cards?

No, you cannot transfer balances from other NatWest Group credit cards, including NatWest, Royal Bank of Scotland, and Ulster Bank cards. However, you can transfer from most other UK credit cards and store cards.

What is the minimum balance transfer amount?

The minimum amount you can transfer is £100. The maximum you can transfer is up to 95% of your approved credit limit, ensuring you maintain some available credit for emergencies or additional purchases.

Will checking my eligibility affect my credit score?

No, using RBS's eligibility checker performs a soft search that doesn't affect your credit score and isn't visible to other lenders. Only the full application involves a hard credit check that appears on your credit file.

How long do the promotional periods last?

The purchase offer can be up to 20 months, and the balance transfer offer can be up to 18 months, both starting from account opening. Your actual promotional periods depend on your credit assessment and could be between 12-20 months for purchases and 12-18 months for balance transfers.

What happens after the 0% periods end?

After your promotional periods end, any remaining balance will be charged at the standard variable rate, which could be between 24.9% and 29.9% APR depending on your credit assessment. It's important to plan your repayments to clear balances before the promotional periods expire.

Important Information: Credit is subject to status and affordability checks. You must be a UK resident aged 18 or over earning at least £10,000 per year. The information provided is for general guidance only and does not constitute financial advice. Your home may be at risk if you do not keep up repayments on any secured borrowing. Before applying, carefully review the terms and conditions and consider whether this product is suitable for your circumstances. If you're unsure, seek independent financial advice from a qualified professional.