Anyone now opening Nationwide Building Society's Credit Card or Select Card online via www.nationwide.co.uk will benefit from a 50 per cent discount on the balance transfer fee¹. This, in addition to the introductory offer² of 20 months 0% interest on transferred balances, makes Nationwide's credit cards useful for those trying to manage their debts.
The reduced fee of 1.55% and introductory offers above are only applicable if the balance transfer occurs within the first three months of the card being opened³.
Paul Carvell, Nationwide's head of credit cards, said: "This is the time of year when people consider how best to manage expenditure made before Christmas.
"Transferring a balance often comes with a fee attached, which is then added to the existing debt. By halving the balance transfer fee on our credit cards, people will have some peace of mind that they can deal with their existing debt while keeping costs to a minimum.
"With the extra benefits that come with our credit cards, such as the 0% introductory offers, cashback, low APR and commission-free purchases abroad, this latest offer really demonstrates the all-round strength of Nationwide's credit cards."
Notes to editors:
¹ Offer may be withdrawn at any time.
² Introductory offers are available to new account openings where the customer has not held a Nationwide credit card for at least the past year. Introductory rates apply from the date the account is opened.
³ The Select Credit Card is available to any members who use their Nationwide FlexAccount as their main current account or hold Nationwide's FlexDirect current account.
To qualify as a main FlexAccount holder, you have to hold a FlexAccount with a Visa debit card (not a cash card+) and:
Have paid in £750 or more each month (excluding internal transfers) for the past three months, or:
Agree to complete an Account Transfer from an account (non Nationwide) using our Account Transfer Service or have done so in the past four months.
Representative example - Select Credit Card
12.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 12.9% p.a. (variable).
Representative example - Nationwide Credit Card
15.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 15.9% p.a. (variable).
Applications are required for all new products. Further details of terms and conditions are available on request.
Credit cards are only available to those aged 18 and over and depend on the customer's circumstances. Nationwide subscribes to the Lending Code.
Customers should consider all borrowing options carefully and seek independent advice.
Nationwide Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 106078. You can confirm our registration on the FCA's website www.fca.org.uk or by contacting the FCA on 0800 111 6768.
Nationwide is the world's largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.
Customers can manage their finances in a branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.