What is changing and when?

In April 2025, the interest rate for some of our existing Member, Select, Nationwide, Gold and Classic credit card customers will be increasing.

If you're affected by the rate increase, we sent you a letter in February 2025 to explain the change. Your new rate will take effect from April 2025 and show on your May 2025 statement.

The increase applies to purchases, cash advances and balance transfers on your credit card.

How will the increase affect me?

This increase won't affect you if you repay your balance in full each month by the due date, as you'll pay no interest. But if you don't clear your balance, you'll be charged interest at the new, higher rate.

How much more will I pay?

This table shows how much more you'll pay for every £100 on your balance, based on your new interest rate.

The letter we sent you confirms how much your interest rate is going up by.

Table showing how much extra you will pay for every £100 on your balance, based on how much your rate is increasing by
Your interest rate increase Extra amount to pay
Going up by 1% 9 pence more each month, for every £100 outstanding on your balance
Going up by 2% 17 pence more each month, for every £100 outstanding on your balance
Going up by 3% 25 pence more each month, for every £100 outstanding on your balance
Going up by 4% 34 pence more each month, for every £100 outstanding on your balance
Going up by 5% 42 pence more each month, for every £100 outstanding on your balance

I have a promotional interest rate on my credit card. What does this change mean for me?

If your credit card currently has a promotional offer rate on a balance (for example, 0% on balance transfers), this will still apply. But any additional balances not included within this promotional rate (for example, a cash withdrawal) will be charged at the new, higher interest rate.

Once your promotional offer has ended, all balances will be charged at the new, higher interest rate.

Why are you increasing the rate?

Nationwide is not immune to cost pressures, which have led to rate increases across the credit card market in recent years. As a result, we need to increase our interest rates for some customers.

What are my options?

Please consider if your credit card is still right for you before the interest rate change happens in April 2025.

Your options are:

1. Keep your credit card at the new, higher interest rate

You don't need to do anything if you want to keep your credit card, and you accept moving to the new rate. The change will automatically happen for you.

Your minimum payment will increase. If you have a Direct Debit set up, we'll automatically take the right amount.

If you pay by standing order or in any other way, you may need to change your payment amount to cover the rate increase.

2. Close your account

If you feel your credit card is no longer right for you, you can stay on your current interest rate until you've paid your outstanding balance.

You will no longer be able to use your card, and we'll close your account once the balance has been paid.

If you choose to do this, you'll need to let us know within 60 days of the date on your letter notifying you of your rate increase.

If you have any regular subscriptions or payments from your credit card, like Netflix or Amazon, you'll need to update them to a new payment method.

How to close your account:

What if I have money owed to me on my credit card?

This will need to be returned to you, and your balance will need to be brought down to £0 before we can close your account.

Give us a call on 03456 00 66 11 and we can return any money owed to you from your credit card.

We're open Monday to Saturday, 8am to 8pm. Sunday, 9am to 5pm. Closed bank holidays. If you're outside the UK, call us on +44 2476 43 89 97.

Why would I have money owed to me on my credit card?

This can happen if you've had a refund paid to your credit card. Or you may have made a payment to your credit card that was more than the outstanding balance at that time.

I’m in financial difficulty. How can I get help?

If you’re worried about debt and making payments, we can help you get your Nationwide accounts back on track. We also provide the details of specialist debt advisors and charities, if you’d prefer to speak to an expert that isn’t us.

More information and support

For more information on this change, please call us on 03456 00 66 11 (Monday to Saturday, 8am to 8pm. Sunday, 9am to 5pm. Closed bank holidays). If you're outside the UK, call us on +44 2476 43 89 97.


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