Responsible lending - our approach

We have a responsibility to you, our customers, to be open and honest, to treat you fairly, and to be safe and secure.

These principles affect everything we do. The way we lend money is no exception. This page tells you about our approach, whether you want a personal loan, credit card or an overdraft. It also outlines what we ask of you in return. If you have any queries, please don't hesitate to ask.

What you can expect from us as a responsible lender:

  • products and lending criteria designed to meet your needs.
  • competitively priced products which we promote in a balanced way showing the risks as well as the benefits.
  • clear information on the cost of your borrowing, any fees and charges and our terms and conditions.
  • an assessment of your ability to make regular payments and the affordability of the credit limit we can offer you, using appropriate credit assessment techniques, before providing credit
  • where the credit limit is solely at our discretion (e.g. Credit Cards and Overdrafts), we will take into account your current and previous financial activity.
  • reasonable notice of interest rate and payment changes affecting you.
  • a limit on your borrowing that we believe will ensure you don't overstretch your finances and which will allow for some increase in expenditure.
  • under strict controls we may share credit data with other lenders both to improve the quality of our decisions and to reduce the risk of you becoming over-committed.
  • your personal information treated confidentially and in accordance with Data Protection legislation.
  • prompt and professional handling of any queries or complaints you may have.
  • considerate treatment of payment issues and arrears

We ask that you:

  • provide accurate and complete information on your application.
  • regularly assess your borrowing and other financial commitments and, if you expect to face payment difficulty in the future, or if you are having difficulties in managing your monthly payments, contact us so we can discuss any help/assistance available.
  • understand the terms and conditions on which the money is borrowed, seeking further information and help if needed.
  • set your credit limit to best suit your needs, up to the maximum limit we will offer you, based on your circumstances.
Man considering the implications of applying for a credit card

Things you may wish to consider in times of difficulty

Our website contains useful information if you're getting worried about your debts – see our guides.

Credit cards & money management

  • As a responsible lender, Nationwide are keen to help you understand more about managing your money. Visit the Better Money Skills website, developed by VISA, in partnership with a team of financial experts from the Citizens Advice Bureau.
  • For help, guidance and an interactive tool to better understand card costs, visit the CardCosts website.
  • When taking out a credit card you should consider your ability to maintain the monthly payments.

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