Nationwide launches new credit card offer

24 July 2013

From 25 July 2013, Nationwide Building Society is increasing the length of its interest-free balance transfer offer and reducing its balance transfer fee on both the Select Credit Card (available to main current account customers) and Nationwide Credit Card for all new customers¹.

Anyone now opening a Nationwide Credit Card or Select Credit Card² online, in branch or via telephone will be able to take advantage of an interest free balance transfer offer of 26 months with a reduced balance transfer fee of 2.4% (minimum £5)³. The Nationwide Credit Card has a 17.9% APR representative (variable) and the Select Credit Card has a 15.9% APR representative (variable).

Paul Carvell, Nationwide’s head of credit cards, said: “With the summer holiday season well underway, many people will use their credit cards to cover the costs, both home and away. With this new offer, customers making a balance transfer of £2,000, for example, could save themselves as much as £780*. This could help considerably with managing expenditure this summer.

“There are additional benefits that come with our credit cards, such as access to our Simply Rewards scheme where you can receive savings at family restaurants and leisure facilities, for example. Combined with these, this latest offer really demonstrates that Nationwide’s credit cards are worth having in your wallet this summer.”

With Nationwide’s Credit Card, customers are rewarded with a commission-free allowance whenever purchases are made in pounds sterling. For example, if £100 is spent on shopping in a month (UK, Sterling) £20 worth of commission-free allowances to use on purchases abroad is automatically rewarded to the customer. With Nationwide’s Select Credit Card, customers are able to make commission-free purchases abroad and earn 0.5% cashback on all sterling purchases**.

A link to the UK Card Association’s website to better understand the costs of credit cards can be found on Nationwide’s website: www.nationwide.co.uk/creditcard.

Notes to Editors:

¹ This offer is available to new account openings where the customer has not held a Nationwide Credit Card for at least the past year. The rate will apply from the date the account is opened. Balance transfers at 0% must be made within three months from account opening and are subject to a fee of 2.4% (minimum £5). If you already hold a Nationwide Credit Card or have closed one in the last 12 months you will not be eligible for these offers.

New Select Credit Card customers will receive no interest on new purchases for the first 12 months, while new Nationwide Credit Card customers will receive no interest on new purchases for the first three months.

² The Select Credit Card is available to any members who:

1. Hold a FlexAccount with a Visa debit card (not cash card or cash card+) and:

  • Have been paying in £750+ a month (excluding internal transfers) for the last three months; or
  • Complete an account transfer to us (from a non Nationwide account) using our Account Transfer Service or have done so in the last 4 months; or

2. Hold a FlexDirect or FlexPlus account

³ Offer may be withdrawn at any time.

*0% for 26 months on balance transfers (2.4% balance transfer fee, minimum £5):

You save

If your balance transfer is:

If your current APR is:

£500

£1,000

£1,500

£2,000

12.9%

£120

£240

£360

£480

15.9%

£148

£297

£446

£595

16.9%

£158

£316

£474

£633

17.9%

£167

£335

£502

£670

18.9%

£176

£353

£530

£707

19.9%

£186

£373

£558

£744

20.9%

£195

£390

£585

£780

Source: Nationwide

These savings include your balance transfer fee of 2.4% (minimum £5).
How the benefits are calculated: The savings figures indicate the interest saving over the stated 0% introductory periods compared to your current APR. The calculation assumes a constant account balance and interest charged from account opening.
**Select Credit Card customers can earn 0.50% cashback on all sterling purchases. The cashback earned does not count towards the minimum monthly payment required to hold a Select Credit Card. In order to earn cashback you must remain a main current account customer. Sterling purchases only (balance transfers, cash advances and payment protection insurance premiums are excluded).

Nationwide credit cards are available to those aged 18+ and are subject to circumstances.
Nationwide subscribes to the Lending Code.

Representative example – Nationwide Credit Card
17.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 17.9% p.a. (variable).

Representative example – Select 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).


About Nationwide Building Society

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-branch, on the telephone, internet and post. The Society has around 15,000 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.

Please note: If you are a customer looking for information on our products and services, please visit the main website.