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Thread: Dear NatWest: is that a typo or is it REALLY over 50% APR?

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    HEXUS.timelord. Zak33's Avatar
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    Dear NatWest: is that a typo or is it REALLY over 50% APR?

    http://www.natwestblack.com/?DCMP=ILC-PRIHPRblackacq

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    HEXUS.timelord. Zak33's Avatar
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    in case you cant find it....

    http://www.natwestblack.com/downloads/summaryBox.pdf

    scare yaself to death....

    Now I know they're being saddled with an outdated and outmoded Apr calculation on something that just doesn't look right.. but still.... over 50% APR.

    I guess if you've got it... flaunt it! Like herpes for example

    Quote Originally Posted by Advice Trinity by Knoxville
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    Minimum £15,000 credit limit
    £250 p.a. fee ?
    No cashback...
    Min wage £75,000

    I have a higher credit limit that that on Egg
    with no annual fee
    with cashback

    ..oh and my Egg card is black too
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    Talking of outrageously high APRs, there's loan company that advertises on daytime TV (who's name thankfully escapes me so I can't advertise it) that has an APR of 2960% give or take a few tens.
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    ^^I think I saw that Advert on Sky Sports news t'other day, also can't remember the name - it was a company for 'instant' small loans though I think - pretty rubbish advert too!
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    Seething Cauldron of Hatred TheAnimus's Avatar
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    I think this is a premier product designed for people who never need to borrow for more than a month.

    If they're offering a min of 15k, odds are if you've a good score they will ramp up the limit.

    I could personally see the use of a card that offered say 50k for no more than a month, to help sidestep my 10k daily limit on my bank account.

    The benefits however strike me as somewhat lackluster, no international concierge thou they do have the travel advisor its not clear what it is (ie can i call it for free on the two main satphone networks).

    What shocks me, is they want £250 per year........

    I don't get where they're aiming this. Plenty of people on 25-75k a year will be better off when they pay £10 a month, depending on how much they save/hit their overdraft.

    But people at the "i pay off my card each month, and earn 75k" bracket.... Well I doubt they would need to be charged, the same as bank accounts don't need to charge you when your earning 100+. They can make more than they need just off transaction.
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    Cards like that are what my boss uses as a useful backup for large purchases for the company. He'll never, ever get hit by the APR and in the meantime the bonuses are useful, though admitedly something like 1% cashback he gets atm is far more useful

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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    APR is screwed up by the annual fee, but still, why pay £250 for it?!

    Those loan co's I don't think are so bad, it's so high as its over a short period of time, I wouldn't expect them to charge 10p for a £200 loan over a week. That's not a judgement on theor business practices though!

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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    haha.. that's mad. Although there must be a market for it, otherwise they wouldn't offer it!


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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    Quote Originally Posted by TheAnimus View Post
    The benefits however strike me as somewhat lackluster, no international concierge..
    Yep there is. Also, free airport lounge access, free home emergency cover (plumbing disasters etc), free travel insurance for card holder and people travelling with them, and green flag cover.

    Plus you get to speak to a real person rather than a machine 24x7x365. Whether it's worth it or not depends on how much you use it I guess. I pay mine off every month so I never get hit by any interest. In fact, I'm sure when I joined, it was a charge card rather than a credit card, which is probably why the rates are so punative.

    I've made numerous home emergency claims when the radiators start leaking the first time they were used after the summer, and two holiday insurance claims - one was massive - more than 10x the annual cost.

    The main reason I got the card though was that I was going on a RTW trip with the wife, and having spent days in hostels etc, having access to the business lounges at major airports was a lovely bonus.

    I have friends who have/had Amex Centurion cards. Now THAT is excessive:

    http://en.wikipedia.org/wiki/Centurion_Card
    Last edited by b0redom; 16-02-2010 at 12:40 AM.

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    mush-mushroom b0redom's Avatar
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    Oh, and you don't need to be earning £75000. I was invited to have one earning less.

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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    There are probably better alternatives, RBS for example (others available, I just have this one) gives travel insurance, home emergency callout, emergency recovery, mobile insurance, extended warranty, 25% off tickets, airport lounges etc etc with their current accounts for about £13/month. Grab that alongside a low APR CC & you could be better off.

    Of course that assumes you even want that stuff, half the things banks seem to add just so they can add up some imaginary 'savings' to justify what is a lot of money just to run a bank account!

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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    Ah really? Might be worth having a look at that. To be honest the only reason I've not cancelled it before is that every time I'm about to, I end up using something.

    Case in point - we went on holiday a few months back, and I got a really bad ear and throat infection. I called up the help line when I got back, they emailed me a form which I printed, and returned with the receipts and they immediately transferred the money into my account.

    No quibble, no fuss, even though it was in the EU (Spain) and I'd not bothered to find a doctor who would take the E111 - although to be fair I didn't check.

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    Seething Cauldron of Hatred TheAnimus's Avatar
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    Quote Originally Posted by b0redom View Post
    Yep there is. Also, free airport lounge access, free home emergency cover (plumbing disasters etc), free travel insurance for card holder and people travelling with them, and green flag cover.
    Check the bit in brackets.

    If its not available to call from a sat phone at a reasonable rate, or offer a callback service (normally they announce it) its not *that* much use. This is one of the reasons I use my service so little, that and when your outside of a top 10 city, they don't know anything google doesn't.
    Quote Originally Posted by b0redom View Post
    I have friends who have/had Amex Centurion cards. Now THAT is excessive:

    http://en.wikipedia.org/wiki/Centurion_Card
    Actually no, its a VERY good value card.

    You work pays you to fly to New York, you want to bring your escort, no problem, odds are its free.

    Your escort couldn't make it, and you can't be bothered to get another girl from the agency. Work has only bought you business class, no problem, free upgrade to first.

    If you make use of that just a few times, its excellent value for money at £1k per year.

    Shame they won't ever invite me, I'd be able to take a friend of mine all over this world (she earns like £9k a year, and i'm sorry but i'm not paying for her to go away every month)
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    Seething Cauldron of Hatred TheAnimus's Avatar
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    Quote Originally Posted by Rob_B View Post
    There are probably better alternatives, RBS for example (others available, I just have this one) gives travel insurance, home emergency callout, emergency recovery, mobile insurance, extended warranty, 25% off tickets, airport lounges etc etc with their current accounts for about £13/month. Grab that alongside a low APR CC & you could be better off.

    Of course that assumes you even want that stuff, half the things banks seem to add just so they can add up some imaginary 'savings' to justify what is a lot of money just to run a bank account!
    When you fall in to the bracket of this card, you don't pay a penny for your bank account and you get the same services as people who do:
    http://www.hsbc.co.uk/1/2/personal/h...ier-experience
    My personal favourite is the emergency help, they will also offer you £2k credit instantly, anywhere in the world, they also seem able to up that if your eligible.

    Most of the pay bank accounts are for people who are borrowing a lot of money all too often, I've yet to find one that is as good value as the free ones out there if your willing to skip bank.
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    HEXUS.timelord. Zak33's Avatar
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    Re: Dear NatWest: is that a typo or is it REALLY over 50% APR?

    oh now we're talking Agency girls... think this is side stepping a tad...

    back on track please chaps

    Quote Originally Posted by Advice Trinity by Knoxville
    "The second you aren't paying attention to the tool you're using, it will take your fingers from you. It does not know sympathy." |
    "If you don't gaffer it, it will gaffer you" | "Belt and braces"

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