New NatWest/RBS balance transfer credit card: how does it compare to rivals?

The fee-free balance transfer credit card comes is hard to beat – but you'll have to be an existing customer to get it.

NatWest and RBS have made a surprising return to the 0% credit card market by launching a top new fee-free balance transfer card.

We say 'surprising' because the Royal Bank of Scotland Group (which owns both the RBS and NatWest brands) had stopped offering 0% deals and other teaser rates five years ago amid concerns that they encouraged irresponsible borrowing.

It seems the banking giant has now had a change of heart, so how does it compare to the top balance transfer cards?

Let's take a look.

Top balance transfer deals compared

The NatWest/RBS balance transfer credit card will help you avoid interest on your debt for 23 months.

While that's some way short of the longest balance transfers (29 months at the time of publishing), those cards all charge transfer fees anywhere up to 2% while the Natwest offer is completely fee-free.

That makes it the longest truly free balance transfer offer on the market, beating the Sainsbury's Bank No Transfer Fee card by one month. 

Compare more 0% balance transfer cards on loveMONEY

One major catch  

At first glance, NatWest’s Balance Transfer Credit Card is pretty competitive.

But the major drawback is that you have to be a customer of either NatWest, RBS or Ulster Bank to qualify for the deal.

Switching current accounts just to qualify is a lot of effort – although you could pocket £175 for doing so – so those who aren't already customers will probably end up looking elsewhere.

You can find the best fee-free alternatives right here if you're interested, or you can read on to see 

Our verdict

The NatWest balance transfer card is a great option for anyone currently banking with NatWest, RBS or Ulster Bank, but as we said earlier, switching just to get the deal sounds like a lot of effort.

Alternatives such as the Sainsbury’s balance transfer card might be a better option as it's open to anyone (with an excellent credit rating).

If you're hoping to boost your Nectar points, you can check out our handy guide for helpful tips.