NatWest Reward Black Credit Card Review

Among premium credit cards available in the United Kingdom.

The NatWest Reward Black Credit Card stands out as a versatile option for frequent travelers and supermarket shoppers. With cashback, foreign transaction fee waivers, and access to NatWest’s MyRewards programme, it combines practical benefits with lifestyle perks. But is the £84 annual fee worth paying? This review explores the key features, costs, and real-world value of the card compared to its closest competitors.

Main Benefits and Features

Cashback and Rewards

• 1% cashback on supermarket spending across chains like Tesco, Sainsbury’s, and Morrisons.
• 0.5% cashback at supermarket petrol stations and other everyday purchases.
• Up to 15% in additional rewards through selected retailers via the MyRewards programme.

Rewards can be redeemed as:

• Cash directly into a NatWest bank account.
• Gift cards for popular UK retailers.
• Airline miles conversions (e.g., Avios and Emirates Skywards).

No Foreign Transaction Fees

A significant differentiator is the 0% foreign transaction fee, making the card highly attractive for international spending. While many UK cashback cards charge around 2.99% for non-sterling purchases, this feature alone can offset the annual fee for frequent travelers.

Annual Fee

The card has an £84 yearly fee. However, customers holding a NatWest Reward Current Account or Premier Reward Black Account may have this fee refunded, effectively making the card free.

APR and Interest Rates

The representative APR is 40.7% variable, with a purchase rate of around 21.9% p.a. variable. This makes it crucial to pay balances in full each month to avoid costly interest that would wipe out cashback benefits.

Comparison with Competitors

Card	Cashback/Rewards	Foreign Fees	Annual Fee	Best For
NatWest Reward Black	1% supermarkets, 0.5% others, 15% retail partners	0%	£84 (refunded for Reward a/c holders)	UK shoppers & frequent travelers
Amex Preferred Rewards Gold	Points on travel & dining, welcome bonus	2.99%	£195 after first year	Travel rewards collectors
Barclaycard Rewards	0.25% cashback on all spend	0%	£0	No-fee overseas spending
Halifax Clarity	No cashback, but no FX fees	0%	£0	Budget international use

This table highlights that NatWest’s offer is particularly strong for supermarket-heavy households who also travel abroad. While Barclaycard Rewards and Halifax Clarity win on annual fee, they lack the stronger cashback potential.

Value for Money Analysis

For an average UK household spending £600/month in supermarkets and £200/month abroad, the numbers are compelling:

• Supermarkets: £600 × 1% = £6 cashback monthly.
• Abroad purchases: saving ~£6 compared to a typical 2.99% foreign transaction fee.
• Annual gain: ~£144 in cashback and savings.

Even after paying the £84 annual fee, the net benefit is around £60 per year. If the annual fee is refunded due to a Reward Current Account, the gain jumps closer to £144 net benefit.

Use Cases

• Frequent travellers: no FX fee makes it cost-efficient abroad.
• Supermarket loyalists: best return on grocery spending in the UK market.
• Reward maximisers: those who combine cashback with MyRewards retailers can potentially boost annual value beyond £200.

Conclusion & Next Step

The NatWest Reward Black Credit Card is not the cheapest option, but it strikes a balance between cashback for everyday UK spending and foreign transaction fee savings. For individuals who spend heavily on groceries and travel internationally at least twice a year, it offers strong value, particularly if paired with a NatWest Reward Current Account to eliminate the annual fee.Continue to Page 2 for a practical guide on maximising rewards, detailed FAQs, hidden “hacks,” and comparisons with alternative credit cards in the UK.