The Royal Bank of Scotland (RBS) have announced that it will be withdrawing its RBS and NatWest credit card facilities from customers that do not bank with the group.
The move from the UK’s second biggest card provider is seen as a way of limiting the danger of accepting customers that cannot afford to repay their debts. It is also seen as a real blow from the many card holders who are continually switching card accounts as they chase the best deal through comparison websites.
RBS and NatWest cards regularly feature in the best buy tables but they will now be restricted to existing customers or those willing to open a current account with the group.
Experts predict that other major banks in the UK will follow the lead from RBS, which the Scottish bank predicts will help them focus on existing customers, critics will complain that the move is bad for business as it limits customer choice.
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