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Nationwide Member Credit Card All Rounder Offer – 2021 review
Nationwide's bid to stop its customers straying is a triple threat – offering 0% interest on purchases and transferred balances, plus fee-free spending overseas.
Finder rating: ★★★★★
Doing its job: 3/5
In a nutshell:
0% interest on balance transfers
0% interest on purchases
Foreign transaction charge
|Balance transfers||0% for 15 months reverting to 19.9%|
|Balance transfer fee||1.5% (min. £5) for 3 months reverting to 2.4% (min. £5)|
|Purchases||0% for 15 months reverting to 19.9%|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£500|
|Max credit limit||Subject to status: £15,000|
|Additional cards available||5|
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.
Available to Nationwide members only (that’s mortgage, current account or savings account holders), the All Rounder Offer is so-called because it comes with 0% interest deals on purchases and balance transfers, and offers commission-free non-sterling spending.
If your primary motivation is clearing existing card debt, then it’s crucial to note that the 0% for 15 months only applies to balances transferred in the first 90 days from account opening. The good news is you can request the transfer during the application process. It’s the same deal for purchases – so if you make a purchase at 91 days in, it’s liable to incur interest.
The weakness of all-round cards is that if you only need a card for one purpose – say spreading the cost of a large upcoming expenditure – there’s usually a better deal available on a more focused card. That’s certainly true of the 0% interest deals on this card – you don’t have to look too far to find longer 0% deals on balance transfers, purchases, or even both.
The card is perhaps more competitive as a travel credit card. Your non-sterling purchases will benefit from currency conversion at standard Visa exchange rates – most credit cards levy a 3% charge on top of this. What’s more, some cards that offer fee-free spending overseas charge interest from the day of the transaction, but if you always clear your balance in full, with this card you’ll be able to take advantage of your usual “up to 56 days” interest-free. Just remember that if a merchant overseas offers to bill you in sterling, you should decline – otherwise it’ll be their fee structure that’ll apply, and not your own.
Ultimately, this card is best suited to existing Nationwide customers who need a credit card for using abroad, and who also might benefit from spreading the cost of a big ticket item or need a bit of breathing room to clear existing card debt.
The Nationwide Member Credit Card All Rounder Offer is issued on the Visa network (used by a whopping 3.3 billion cards), so you'll be able to use it at more than 46 million merchants across more than 200 countries and territories.
Pros and cons
- Over a year of 0% interest to focus on reducing existing card debt
- Over a year to spread the cost of purchases
- A relatively low balance transfer fee
- Avoid currency conversion charges when spending abroad
- No annual fee
- Only available to existing customers
How does it compare?
Nationwide BS's card
Other popular matched 0% deals
You can make manual repayments through Nationwide BS's app, by logging in to your online banking or over the phone (0800 055 66 11). Alternatively you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result. You could use a fixed-amount direct debit to ensure you've cleared your debt before the 0% period expires – simply divide your outstanding balance by 15 to see what you'll need to pay each month (this assumes you don't use the card for additional spending).
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
If you've compared cards and want to apply, you can simply log in to your Internet banking and complete the secure online application form. Because a lot of it can be auto-filled by the folks at Nationwide, it shouldn't take more than 10 minutes.
Frequently asked questions
Do I need to let Nationwide know before using the Member Credit Card abroad?
No. Along with most other card issuers, Nationwide now manages without a heads-up. However, it does advise that you let it know your current mobile number, so that it can contact you while you're away. This can be updated in your online banking or in the app.
How much does it cost to withdraw cash abroad using the Member Credit Card?
You won't be charged a currency conversion fee by Nationwide, but you will be charged a cash advance fee of 2.5% (min. £3) of the amount you withdraw, plus Nationwide will start charging this part of your balance interest straightaway (your usual "up to 56 days" interest-free won't apply). Finally, the ATM provider might add its own charge. If the ATM offers to convert your currency for you, it's probably best to decline, since you know this card has preferential currency conversion terms, while the local bank might not. So all in all, withdrawing cash on this card (and on almost all credit cards – at home or abroad) is normally best avoided.
What will my credit limit be on the Nationwide Member Credit Card?
Nationwide sets your credit limit when you apply for the card. It's based on factors like your credit score, and your regular income and outgoings. You can apply for an increase every six months through your online banking or in the app. As you'd expect, any increases are at Nationwide's discretion, but you'll stand a better chance if you've used the card responsibly over the previous six months (stayed within your existing limit and made all repayments on time).
Can I still get the Nationwide Member Credit Card All Rounder Offer 0% deal if I recently had a Nationwide credit card?
If you've held a Nationwide credit card within the last year, then unfortunately not.