Please Note that RBS have stopped accepting any applications for their MINT credit card service. This is in effect until further notice from RBS.
The quirky looking MINT credit card is part of The Royal Bank of Scotland plc, and used to be known as RBS Advanta. The bank's rebranding of the card has brought with it a new card design, and advertising to match. And it seems to have worked wonders. MINT is fast-becoming the most popular credit card to apply for on the UK market. Click here to view the official website.
The card's fun design is not the only reason for its popularity. It offers customers excellent rates of interest as well as other benefits like cashback on purchases.
A lot of credit cards offer interest-free deals to begin with, but charge high interest rates as soon as the deal expires. The good thing about MINT is that the standard APR is still only 10.9%, and therefore customers continue to save money even after the eight month interest-free period is up.
If you are transferring a debt from another credit card and would prefer a continually low rate of interest, you could opt for a different sort of card with MINT. Essentially, any credit card balance transfers within the first three months of opening the account qualifies the customer to a discounted interest rate on that balance for life, i.e. until it is repaid in full. This can be extremely useful alternative to applying for a loan, as it presents customers with much better rates than any regular bank or building society loan could offer.
During the introductory phase, the zero percent interest applies not only to balance transfers, but to any purchases made too. This means that people who clear their credit cards each month and have not accumulated debt, can also benefit from the scheme.
MINT currently offers four different card types. The basic 'MINT card' is available as either a MasterCard or a Visa card, and anyone aged eighteen or over with a minimum yearly income of £10,000 can apply. The intriguingly shaped mc2 card is also available to anyone over eighteen earning more than £10,000 a year (subject to approval) but is only available as a MasterCard. Platinum and Gold cards offer a higher credit limit to cardholders with an annual income of over £20,000.