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The Royal Bank of Scotland (RBS) Reward Credit Card is designed to offer tangible benefits to its users through an attractive rewards program.

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Whether you are a frequent shopper, a loyal customer of specific retailers, or simply looking to earn back a percentage of your spending, this credit card provides multiple ways to earn rewards while making everyday purchases.

In this guide, we will explore the key benefits, prerequisites, and features of the RBS Reward Credit Card, as well as how it compares to similar options in the market.

Royal Bank of Scotland Reward Credit Card Benefits

1. Earning Rewards at Supermarkets

For those who frequently shop at supermarkets, the RBS Reward Credit Card offers 1% in rewards. This percentage applies to grocery purchases, making it an ideal option for anyone who does their weekly or monthly shopping at large retailers.

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With every £100 spent at the supermarket, you can expect to receive £1 back in rewards.

2. Earning with MyRewards Retailers

In addition to supermarket rewards, the card offers an even more substantial range of benefits through partnerships with select retailers. At MyRewards retailers, you can earn 1-15% in rewards, depending on the specific offer available at the time.

These retailers often change every month, so cardholders can enjoy personalized offers based on their spending habits, maximizing the potential for savings.

3. Rewards on General Purchases

For all other purchases outside of these categories, the card offers a 0.25% reward rate. This applies to spending in places like supermarkets petrol stations and other non-specialized purchases.

While this rate is lower, it provides an opportunity to accumulate rewards steadily, even for smaller everyday transactions.

4. Annual Fee Refund for Reward Current Account Holders

Another attractive benefit for those already banking with the Royal Bank of Scotland is the refund of the card’s £24 annual fee if you have a Reward current account.

This perk effectively makes the card free for qualifying account holders, providing them with an even greater incentive to use the card regularly for their spending.

5. Worldwide Acceptance

As a Mastercard product, the RBS Reward Credit Card is accepted globally, allowing you to use it both in-store and online at millions of locations around the world.

This flexibility makes it an excellent companion for those who travel frequently or make international purchases.

Prerequisites for Applying

Before applying for the Royal Bank of Scotland Reward Credit Card, potential applicants need to meet certain requirements to ensure eligibility. See below:

General Requirements

  • Age: you should be at least 18 years old
  • Residency: to apply, you should be a UK resident
  • Income: Applicants should earn at least £10K per year

Proof of Identification

To apply for the card, you’ll need to provide valid identification documents. The most common forms of ID accepted include:

  • A UK/EU/EEA driver’s license
  • A UK passport or a foreign passport with a visa
  • An EU/EEA National Identity Card

Proof of Address

You will also need to submit a document proving your current address. Commonly accepted proofs of address include:

  • A driver’s license
  • A utility bill (gas, electricity, water, or home telephone)
  • A bank or building society statement
  • A council tax bill

By providing these documents, you can ensure that your application process goes smoothly without unnecessary delays.

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About the Royal Bank of Scotland

Founded in 1727, the Royal Bank of Scotland has a long and established history in the financial services industry. Over the centuries, it has grown to become one of the leading banks in the UK, offering a wide range of services to individuals, businesses, and corporations.

RBS is known for its customer-oriented services, and its credit card products reflect this dedication to providing value and convenience to its customers.

The RBS Reward Credit Card is one of the bank’s flagship products, providing consumers with a straightforward way to earn rewards and save on everyday spending.

With its combination of earning potential and global usability, this card is a great addition to the bank’s comprehensive portfolio.

How to Apply for the Royal Bank of Scotland Reward Credit Card

Applying for the RBS Reward Credit Card is a simple process that can be completed online in just a few steps:

  1. Visit the RBS Website: Navigate to the credit card section of the RBS website and select the Reward Credit Card.
  2. Fill Out the Application Form: You will need to provide personal details such as your name, address, date of birth, employment information, and financial details.
  3. Submit Proof of ID and Address: As mentioned, you will need to upload or provide copies of your ID and proof of address to complete your application.
  4. Credit Check: RBS will conduct a credit check as part of the application process to determine your eligibility
  5. Approval and Card Issuance: If approved, your card will be issued and sent to your address. You can then activate it and start earning rewards on your spending.

RBS Reward Credit Card Pros and Cons

Like any financial product, the RBS Reward Credit Card has its advantages and disadvantages, which are important to consider before applying.

Pros

  • Attractive Rewards Program: With up to 15% in rewards at MyRewards retailers and 1% at supermarkets, the card offers considerable savings for regular shoppers.
  • No Reward Caps: Unlike some other credit cards, the RBS Reward Credit Card does not impose a limit on how many rewards you can earn, making it ideal for high spenders.
  • Annual Fee Refund for Current Account Holders: For those who already hold an RBS Reward current account, the card’s annual fee is refunded, effectively making it a fee-free card.
  • Global Usability: As a Mastercard product, the card is accepted worldwide, offering convenience and flexibility for both local and international transactions.

Cons

  • Annual Fee: While the £24 annual fee is relatively low, it may still be a downside for those who do not qualify for the refund or do not spend enough to justify the fee.
  • Variable APR: The card has a representative APR of 31.0%, which is on the higher end compared to other reward cards. This can be a drawback for those who plan to carry a balance month to month.
  • Low Reward Rate for General Purchases: The 0.25% reward rate on non-supermarket and non-partner retailer purchases is relatively low compared to other reward credit cards that offer higher cashback rates across all categories.

Fees and Tariffs

See below the main costs associated with this card:

  • Purchase rate: 25.9% p.a. (variable)
  • Representative APR: 31.0% (variable)
  • Assumed credit limit: £1200
  • Annual fee: £24 or £0 if you have a Reward current account.

Conclusion

The Royal Bank of Scotland Reward Credit Card is a solid choice for shoppers who want to earn rewards on their everyday purchases, particularly at supermarkets and select retailers.

With no cap on rewards, flexible redemption options, and global acceptance, it caters to a wide range of spending habits.

While it comes with an annual fee and a high APR, its benefits—especially for those with an RBS Reward current account—can easily offset these costs for many users.

By considering the pros and cons and assessing your spending habits, you can determine if this card aligns with your financial goals.