The Nationwide Credit card will give you a 0% interest rate during an introductory period when you make balance transfers or purchases. These, however, must be completed within the first three months of opening your account. You do not have to be an existing nationwide customer in order to qualify for this offer.
This credit card also comes with plenty of rewards and benefits such as commissions and cashback on foreign transactions, especially when you spend in Sterling. They have a high level of control as their customers can bank on their mobile phones or the company website.
You can easily gain access to your transactions and statements whenever you wish to, which is ideal for someone who wants to take control of their finances.
Benefits of Using This Card
Commission-free Purchases While Travelling
If you are a frequent traveler, then you will appreciate what this card has to offer. You will not be charged anything for foreign transactions. So, when you need to buy things while abroad, feel free to use this card.
However, if you are going to use the card to withdraw money while abroad, you will be charged an interest at the rate of 2.5% or a minimum amount of £3 whichever one is higher. Some cash machines, however, may apply additional charges. However, these are separate charges from anything that Nationwide has control over.
This card will also give you the option to spend some money on your holiday and then spread out the cost when you return. You can repay the debt over whichever length of time you want, but just ensure that you are making the minimum payments each month.
No Annual Fee
Most credit cards come with an annual fee, but the Nationwide Credit card does not. This makes it one of the most attractive and competitive cards in the market today. Not having to worry about the extra cost at the end of the year is a great incentive to apply for this card.
Soft Credit Check
When applying for the card, the company allows you to check your eligibility before you apply. This necessitates a “soft credit check” which does not dent your credit report. Of course, when you do apply, they will do more checks on your credit.
Great Introductory Offers
There are some great introductory offers attached to this card. Such offer include a 0% interest rate on all balance transfers for the first 18 month and a 0% interest on purchases for the first 3 months.
These offers are designed for anyone who wishes to transfer balances from one card to another after a huge purchase. They are also for people who wish to put all of their borrowing on one card and are looking for a longer interest-free period in order to pay off a purchase.
Fees and Charges
The Nationwide Credit Card will attract the following charges.
- A variable representative APR of 19.9%. However, this rate can actually go up to 24.9% depending on your credit report.
- Cash fee – charged at £3 or 2.5% of the withdrawn amount.
- Balance transfer fee – charged at £5 or 2.4% of the amount of the balance transfer.
- Statement charge – zero.
- Card replacement charges – zero
- Introductory purchase rate – 0%.
- Purchase rate after introductory period – 17.9%.
How to Apply
You can apply for the card through the phone, or on the company website.
Through the Phone
- Please call the customer service number – 0845 730 2010
- The person at the end of the call will ask you a few personal questions in order to determine your eligibility.
- You will then need to await their decision. If your application was successful, you will receive the card in the mail after a couple of days.
Applying for the Card Online
- Start by visiting the company website.
- You have the option to check your eligibility first, before submitting personal information.
- Fill in the application form with information such as your name, address, telephone number, and your income information.
You must also meet the following criteria before your card can be approved.
- You must be over 18 years of age.
- You must be a UK resident.
- You must have an income of around £5,000 each year.
- You must not have filed for bankruptcy or have CCJs or IVAs
Please visit the Nationwide company website, to apply for your credit card.
To contact the company with questions or concerns, you can call 0845 730 2010. Additionally, their office can be found at Nationwide building society, Nationwide house Swindon, SN38 1NW.
With credit cards, you really have to look for one that suits your everyday needs. This particular card is ideal for balance transfers, and if you are thinking of making a huge purchase, and then transfer the cost, then you should consider this card.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.