17 November 2015
- Current account and credit card customers visiting Simply Rewards website will automatically benefit
- Refreshed scheme means Select Credit Card customers now have two ways of earning cashback on purchases
Nationwide is now offering credit and debit card customers the ability to earn cashback on purchases across many of the UK’s favourite retailers as part of a refreshed rewards scheme.
Customers who visit the Society’s Simply Rewards website, which is enabled by VISA, will automatically be eligible for the majority of offers just by viewing it on a page. However, a small selection will require customers to opt in to benefit.
The amount of cashback that can be earned varies depending on the merchant, but currently customers can receive between 1% and 35% of the value of their spend, assuming they meet an agreed amount of spend.
If a customer successfully redeems a cashback offer, the money will be credited to their Nationwide current account or credit card within five days. Customers will then be able to see how much cumulative cashback they have earned by logging on to the Simply Rewards portal. In addition, each cashback transaction will show on their credit and debit card statement.
Simply Rewards is a scheme that offers a range of discounts, from eating out, everyday essentials like a weekly grocery shop, through to travel and accommodation. Offers are refreshed on a regular basis to reflect customer shopping habits. Examples of merchants with offers available from launch include Argos, Emirates, Reebok, Adidas, Harvester and Hilton.
Nationwide Select Credit Card customers will earn additional cashback as the card offers 0.50% cashback on purchases in the UK. From 4 November, new Select Credit Card customers will also receive £25 cashback if they spend or transfer a balance for £25 or more within the first 60 days of account opening.
John Crossley, Nationwide’s Head of Credit Cards and Personal Loans, said: “Our new Simply Rewards cashback scheme helps put money back in our customers’ pockets. Once registered for the scheme, all our customers have to do is view an offer on the website and they will automatically be eligible to start earning cashback from a number of well-known high street brands.
“The new offer means customers no longer have to obtain a discount code or show the offer to the merchant to be eligible, something some people can often find inconvenient or embarrassing. Instead, the cashback will be credited to their account within five days.
“Unlike other credit card providers who have withdrawn their reward schemes following the recent reduction in interchange fees, Nationwide remains committed to offering cashback via its Select Credit Card. Customers using Simply Rewards in conjunction with their Select Credit Card can therefore earn two lots of cashback on their purchases, as new customers can also earn a further £25 if they spend more than £25 on their card within the first 60 days.”