Order of Payments

You could save up to £224* in the first year

A Nationwide credit card offers you many great benefits including free-insurances and commission-free purchases abroad**, however our credit card also offers a positive order of payments, which means you could pay less in interest.

What does Order of Payments mean?

Order of Payments (or OOPs) relates to the way credit card providers allocate your payments towards your credit card bill. Different credit card transactions are charged at different interest rates. For example at Nationwide -

• Introductory purchase and balance transfer offers are charged at 0%
• Ongoing purchases and balance transfers are charged at
  16.9% APR 
• Cash advances are charged at 27.9%

When a Nationwide credit card customer makes a payment to their credit card we, unlike most other credit card providers pay off the debt being charged at the highest interest rate, before that charged at a lower interest rate. We pay off -

• Cash advances charged at 27.9%; before
• purchases and balance transfers at 16.9% APR; before
• introductory purchase and balance transfer offers at 0%

However, most competitors allocate payments in the opposite way -

• Introductory purchase and balance transfer offers at 0%; before
• purchases and balance transfers at various interest rates; before
• cash advances

So, if you have a competitor's card, with a 0% balance transfer and have made a cash advance, when you pay your bill, the payment may go towards paying off the 0% balance transfer before the cash advance and therefore the cash advance will continue to be charged interest at the highest interest rate.

You could save £224* with Nationwide

We've looked at how our average new Gold credit card customer uses their card and through our positive order of payments you could save £224*.

OOPs - Nationwide

So along with a positive order of payments, a Nationwide credit card has the following great benefits:

• 0% for 13 months on balance transfers***
• 0% for 3 months on purchases***
• Commission-free purchases abroad**
• FREE purchase cover for loss, theft or damage to most purchases over £50
• FREE 12 month extended warranty on many gas or electrical products
• Peace of mind for all cardholders with Nationwide Fraud Watch

Click here to apply.

* Saving is based on new Gold Card holder over 12 months, transferring £2,020 in month 1, making £307 of new purchases each month, withdrawing £84 in months 1 and 7, and making monthly repayments of £359 (with our positive order of payments compared to a negative order of payments). Breakdown of usage based on average Nationwide Gold Card active customer usage February 2008 – January 2009. The average £2,020 transfer is based on customers using this service.

** We pass on a Visa charge for foreign transactions. More info

*** Introductory rates apply from the date the account is opened. Balance transfers at 0% must be made within 3 months from account opening and are subject to a fee of 3% (minimum £5.00).