Nationwide Credit Card review November 2019
This “balanced” credit card offers 0% deals on both purchases and balance transfers.
Finder rating: ★★★★★
Doing its job: 4.5/5
In a nutshell:
0% interest on balance transfers
Balance transfer fee
0% interest on purchases
|Balance transfers||0% for 12 months reverting to 17.9%|
|Balance transfer fee||0% for 3 months reverting to 2.4% (min. £5)|
|Purchases||0% for 12 months reverting to 17.9%|
|Purchases interest-free period||Up to 56 days|
|Min. credit limit||£500|
|Max credit limit||Not specified|
|Additional cards available||5|
|Incentive||Customers will be able to earn commission-free purchases abroad by using their Credit Card each time they make a purchase in Sterling. The calculation will be based on a 5:1 ratio - for example, £5 spent in Sterling will earn an allowance of £1 commission free-purchases abroad. Purchases abroad beyond the earned amount will be charged 2% commission.|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
This is a solid “balanced” credit card that can help with immediate financial needs but also be a good shout for the long term if you travel often.
If you’re looking to spread the cost of an upcoming expenditure, but you already have some outstanding credit card debt, this card meets both needs. What’s more there’s no balance-transfer fee – a significant benefit for those who plan to transfer a large sum.
There are longer 0% offers out there, so you’ll need to be happy that you can clear the debt within the 0% introductory period on the card, otherwise your balance will start to accrue interest at a less favourable rate.
As we said, this card can be a good companion for travelling abroad, at least as long as you also use it at home. Everytime you use the card in the UK, you build up a “commission-free allowance” – that is, a sum you can spend abroad without being charged any foreign currency transaction fees.
This card is available to existing Nationwide customers. However, if you use Nationwide for your main current account, you could qualify for its Select credit card, which is really similar but allows you to spend fee-free abroad anytime, no matter how much you spend on the card at home.
How does this card compare with other similar cards on the market?
When it comes to repayments, you can make manual repayments online or over the phone (0800 055 66 11), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the Nationwide Credit Card
If you’ve compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you’ll need to make the process as straightforward as possible.