Nationwide vs Santander Zero credit card

SG_Guy · 17 February 2010 at 2:49AM

Hello, has anyone tried to use both the Nationwide credit card and Santander Zero credit card overseas on the same day and compared the sterling amounts?

I understand both cards should be using the Visa and MasterCard exchange rates, respectively, but have also heard that Santander Zero sometimes works out worse even when used outside the Visa EU region where Nationwide passes on the 1% cross-border charge but Santander Zero does not pass on the MasterCard equivalent.

Would be interesting to get recent feedback on this. Apologies if this has already been posted before - could not locate this on the forum despite searching.

chattychappy · 17 February 2010 at 6:56AM

Yes I've used them both and found that Nationwide Credit Card (gold visa) does indeed work out about 1% more expensive than Santander Zero. I found that Nationwide Credit Card used to give me pretty much the Oanda mid-rate. After they introduced the 1% fee, then I was getting 1% away from this. Zero still gives me about the mid-rate. I think I tried Nationwide CC and the Post Office card on the same day a while back and did indeed find that Post Office was better.

Zero can also work well for getting cash too, under certain circumstances - and I reported some findings here where I tried Nationwide DEBIT and Zero on the same day:

http://forums.moneysavingexpert.com/showthread.html?t=2178549

Most of my CC spend is outside the UK so this is a "big issue" for me. Right now Zero is the way to go for purchases. Post Office would be OK, except for the lousy online system.

will-in-estoril · 17 February 2010 at 8:39AM

I would say that as long as you have one of the three you won't go far wrong. I too am based outside the UK, but have found that the differences are too small for my spend to be at all concerned. (I hold the PO and Nationwide cards, having little faith in Santander's customer service.)

You are 99.9% of the way there by rejecting all other credit cards for overseas' spend.

chattychappy · 17 February 2010 at 8:53AM

will-in-estoril wrote: »

I hold the PO and Nationwide cards, having little faith in Santander's customer service.

Certainly Santander has a bad name here and there are some horror stories.

My own experience was I got my card just before being away for 3 months. Didn't have a chance to set up the online service - so managed the account by phoning them up to check balances, transactions, payments received etc. I found them jolly good on the phone and everything went smoothly.

One more thing - whatever you do, take more than one card (ideally keeping it separate). Cards get rejected, lost, stop working etc. Some of my trips have been for several months, so cards expiring can also be a problem - and I've never been able to get a CC company to advance-replace my card.

Anyway even paying 2.75% is cheaper than emergency transfers, western union etc. Some CC companies say you should phone ahead to let them know that you are travelling. I long stopped doing that and haven't had a problem. Perhaps it makes no difference, or perhaps they are used to my travels by now. I suppose you've got nothing to lose by doing this. From other travellers I've met, Barclaycard seems to be the worst when it comes to blocking cards, but with the forex loading you shouldn't be using them anyway.

I've met many a posh British traveller flying business class or at VIP lounges at airports - sporting Amex Centurion cards, fashionable luggage etc. Many of them actually use Nationwide Visa (and now Zero) cards for their spend. These guys are not stupid.

SG_Guy · 17 February 2010 at 2:16PM

Thanks everyone for the helpful tips and sharing your experience.

dzug1 · 17 February 2010 at 2:21PM

chattychappy wrote: »

Anyway even paying 2.75% is cheaper than emergency transfers, western union etc. .

And cheaper than most sources of cash

Arthritic_Toe · 17 February 2010 at 3:41PM

chattychappy wrote: »

Yes I've used them both and found that Nationwide Credit Card (gold visa) does indeed work out about 1% more expensive than Santander Zero. I found that Nationwide Credit Card used to give me pretty much the Oanda mid-rate. After they introduced the 1% fee, then I was getting 1% away from this. Zero still gives me about the mid-rate. I think I tried Nationwide CC and the Post Office card on the same day a while back and did indeed find that Post Office was better.

Zero can also work well for getting cash too, under certain circumstances - and I reported some findings here where I tried Nationwide DEBIT and Zero on the same day:

http://forums.moneysavingexpert.com/showthread.html?t=2178549

Most of my CC spend is outside the UK so this is a "big issue" for me. Right now Zero is the way to go for purchases. Post Office would be OK, except for the lousy online system.

Really helpful stuff - thanks for sharing this info. -And of course you can avoid ANY interest charges by preloading with a positive balance (but somewhat dubious in respect of the terms and conditions).

Nationwide vs Santander Zero credit card

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