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Cashback Plus loyalty comes to credit cards

A brand new credit card has been launched by NatWest and RBS which allows customers to earn cashback on all of their purchases. There are more than one million registered customers using the existing loyalty scheme with their debit card and the credit card equivalent is being launched to build on that success and reward loyalty however purchases are made.

2014 has seen a complete overhaul of the banks’ credit card offering and, in March, all previous credit cards with promotional pricing were replaced with simpler and fairer products charging fixed and transparent fees.

Now, with the new Cashback Plus credit card, customers can earn 0.5% on all purchases whether at home or abroad as well as at least 1% on all shopping at existing Cashback Plus retailers. All supermarket shopping earns 1% cashback and customers can benefit from an additional 1% on all contactless transactions until 31st March 2015.

Paul Riley, Head of Credit Cards for RBS and NatWest said: “Sometimes credit cards can be tricky but our Cashback Plus credit card is simple. It rewards customers for all their spending – not just the bits we choose – there is no complicated small print or caps on rewards, and we have made sure that APRs won’t jump up when you’re least expecting it. Credit cards should offer customers a helping hand, and this does just that, but without the catches.

If customers use their Cashback Plus credit card to spend £50 a week in a supermarket they will earn £26 across the year.

Customers can find out how much they could earn using the newly launched Cashback Plus Reward Calculator and, once the equivalent of £5 or more has been earned, customers can choose to bank, donate or trade up their rewards. That means converting them into cash, donating to charity or taking advantage of higher value gift cards or vouchers at a growing number of retailers.

The Cashback Plus credit card comes with no balance transfer fees and a single £24 annual fee. It compares well with the fees charged by other reward credit cards and also against cards with no fee but significantly higher interest rates.

Anyone wanting to find out more can visit the Cashback Plus web pages for NatWest and RBS.

This information is not a financial promotion and is for media use. 

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