Natwest cancel zero percent credit cards to be more transparent

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Transparency is something that the world is starting to embrace. Natwest are pushing a new marketing campaign to say why they are ending the zero credit cards. Essentially every zero percent offer is a hook to get you in and then they hike up the rate. According to a research study, 64% of people do not switch at the end of the zero percent.

Why have Natwest removed 0% offers?

They say:

Our customers have told us that three things are most important for them when choosing a new credit card.


  • We aim to provide clear and simple options which address your needs and reduce the complexity of choice.


  • We have removed complicated “% of balance” balance transfer fees.
  • You get the same credit card and rate if you apply online, in branch or over the phone.


  • You can see if you could save money on interest and fees by using our Credit Card Calculator.
  • We can also show you how likely you are to be accepted for a NatWest credit card by using our Approval Indicator tool.

Trouble viewing Watch on YouTube

Read more  on Natwest website –


Why should you be transparent in business?

Short answer: Because it is the right thing to do.

Watch on YouTube.

I have been a long time believer that transparency is a good thing for good people and good businesses. If you got nothing to hide, you shouldn’t have a problem with transparency in business. It will help the good businesses get better and get rid of the bad businesses quicker.

The above video is a great interview from TechCrunch TV with Buffer co founders Joel Gascoigne and Leo Widrich. They discuss why transparency is important to them and how it helps them.

These are a few quotes from the video.


Transparency makes it easier, it stops you having to remember what you have said to one person and you cant say to another. tweet this quote

Other people open up a lot more if you if are transparent. tweet this quote

Default to transparency tweet this quote


I also stumbled across their open salary policy on their blog which is the most transparent of any company I have ever seen. They explain the open salaries a bit more in the video below. It is also well worth a watch.

Watch on YouTube

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CEOs on twitter

A recent Wall Street Journal article on CEOs using twitter raised some interesting points.

My biggest concern and point I would like to raise is that is you are so scared of what your CEO is going to share on Twitter then I think you have one of two problems

  1. Your CEO should not be your CEO if he does not have the common sense as to what to share in a public place for the world to see
  2. If you are worried that your CEO will release your dirty secrets onto social networks then maybe you should fix the way you do those things as a business so that you do not have to worry about him/her saying things they shouldn’t

If your CEO says he is too busy to use Twitter then he is saying he doesn’t see the point of having an open communication channel with his customers. Let them carry on sitting in their own little protected bubble for a bit longer.

In the USA 34% of people are on Twitter and 50% are on Facebook. How comes out of the Fortune 500 CEOs only 4% are on Twitter and 8% on Facebook?

Case study: Honest Tea

Honest Tea (yes its an honest tea company) was set up in 1998 with good values at their heart

Co founder Seth Goldman talks about how and why after 14 years they plan to partner with Coca Cola distribution network

They even publish their original business plan

Founder interviewed on TV a few years around how he quit life as a venture capalist