From May 21, 2007, new NatWest credit card customers will be offered a 13-month interest-free period on balance transfers and three months interest-free on purchases. The bank will also offer a 13.9% APR, while its current account holders can enjoy a better 12.9% APR when applying for a new credit card. Balance transfer fees will remain at 2%.
The Royal bank of Scotland (RBS) will follow suit and offer new credit card customers the same deal.
Meanwhile, Mint, a direct financial services company under the RBS umbrella, will offer new credit card customers 0% interest on balance transfers until August 1, 2008 and 0% on purchases until January 1, 2008.
In addition, customers looking to transfer balances during October 2008 will benefit from a further six-month interest-free period, as well as a new rate of 14.9% APR, while balance transfer fees will be lowered to 2.5% from 2.9%.
All credit cards offer up to 56 days interest-free if a customer pays their balance in full and on time and has paid the previous month’s balance in full and on time. 24-hour customer service is also available for Mint and RBS customers.
