You can contact us within 60 days from the date we gave you notice of the increase, reject the increase and close your account. You will be requested to pay off the outstanding balance as per section B of your agreement, please see below:

Section B of your agreement

You must pay us a minimum monthly payment equal to: 

  • 3% of the account balance; or
  • £5

whichever is the higher.

You must do this by the payment due date on your monthly statement until your agreement ends and you have paid off everything you owe on the account. You must do this even if you do not receive a monthly statement. You can pay us more than the minimum if you want to but, if the balance is less than £5, you must pay what you owe us in full (see also clause 8 of the Credit Card Terms and Conditions). You can at any time repay everything you owe us under this agreement.

Here are some FAQs about rate changes

The interest rate on your account has remained the same for the last three years and during this period the costs associated with providing credit have increased. As a result we now need to reflect this in the interest rate we charge you. We would like to reassure you that your new interest rate remains comparable with that offered by other credit companies.

You will have been sent a letter that tells you the date the interest rate will change and the new interest rate. There will be a reminder message on your next statement and the new rate will apply from the date on our letter.

Customer accounts are continually assessed, but we will not change the APR on your account again for at least six months. If there is any change in the future you will be notified in advance of the change in accordance with any legislative or regulatory requirements around customer notification, currently this is 60 days in advance.

You won't be able to transfer to a different Nationwide credit card until your interest rate change has taken effect. If you choose to switch to an alternative credit card in the future the interest rate that you have at that time will apply to the new account.

The increase does not affect your credit limit and all other facilities will remain the same.

If you wish to reject the rate increase please contact Credit Card Services on 08457 998899.

For more information about credit card repricing, please download the UK cards association repricing factsheet(PDF).