RBS Credit Card

RBS restricts credit card offers

RBS is unlikely to be the only credit card company to restrict new products to existing customers.

The move by Royal Bank Scotland will reduce competition in the credit card market and more importantly limit consumers choice when selecting a credit card

The only way you will be able to get an RBS card is to have a bank account with them, One of the main problems is that RBS fee-free standard current accounts pays just 0.1% in-credit interest and charges 19.24% EAR on overdrafts which is uncompetitive compared to other current account offers.

RBS customers whose credit histories are not exemplary may find they can benefit from the deal, as new customers are not approved based on "scant credit reports".

The price comparison site recently found that credit card customers could incur late payment fees due to the postal strike. With the recent postal strike consumers could face a £12 fine if they have not set up a direct debit with the bank and this could also impact on their credit reports.

• See: RBS Credit Cards
• See: Compare Credit Cards

Tags: RBS Credit Card, royal bank of scotland