Nationwide Select - cashback down from 0.5% to 0.25%
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A shame but not surprising. A consequence of EU meddling.
I'm not going to go into the ins and outs of Brexit here but it'll be interesting to see if the ruling re: interchange fees will be scrapped if/when we leave the E.U.
Although I'm not a Nationwide customer am just waiting for Lloyds to contact me and tell me my Choice Rewards AmEx/MasterCard is being culled!It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.0 -
They are also stopping all the insurance cover from the end of February 2018. May be time for a move to another provider?0
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Hello ngbpne28,
Would you please direct me to the source of your information re Nationwide " stopping all insurance cover ". Please provide details and clarification.
Regards,
Bill0 -
Where is this written?thetimewill wrote: »Hello ngbpne28,
Would you please direct me to the source of your information re Nationwide " stopping all insurance cover ". Please provide details and clarification.
Regards,
Bill
I know a lot of T's and C's for accounts and savings etc. are changing in Jan 20180 -
Gary Dexter,
It is a statement by ngbpne in post number 13. Hence my request for further info..
Bill0 -
thetimewill wrote: »Gary Dexter,
It is a statement by ngbpne in post number 13. Hence my request for further info..
Bill
I replied with the wrong quote - my bad!0 -
thetimewill wrote: »Would you please direct me to the source of your information re Nationwide " stopping all insurance cover ". Please provide details and clarification.
I was a little worried that it would include my Flexaccount travel insurance cover but I think it only refers to this https://www.nationwide.co.uk/support/support-articles/discontinued-accounts/discontinued-accounts-credit-card-purchase-protection0 -
Terry98,
Thank you for the link, it clarifies the matter .
Regards ,
Bill0 -
I'm not going to go into the ins and outs of Brexit here but it'll be interesting to see if the ruling re: interchange fees will be scrapped if/when we leave the E.U.
Although I'm not a Nationwide customer am just waiting for Lloyds to contact me and tell me my Choice Rewards AmEx/MasterCard is being culled!
It's a worldwide trend, so not really to do with the EU. (Yes the specific legislation in effect in the UK is from the EU, but after leaving all EU laws will continue to apply and then be removed selectively.)
If you believe conspiracy theories it's part of a drive to reduce the use of cash.
The Choice Rewards card has already been discontinued for new customers (and IMHO was not worth it unless you have absolutely no use for avios).
The Lloyds Avios cards will be going, but we don't know when.
All the MBNA Amex combos are gone for new customers too.
Card companies will lose money if they offer anything more than 0.25% cashback so unsurprising that Nationwide has taken this step, and there won't be any better offers on a card with no annual fee.
Only directly issued Amexes without a branding partner are exempt, for the time being.0 -
Just finished my interest free period on MBNA. So decided to apply for the NW Select card with 12 months free balance transfer and 0% on purchases.
It was a straight accept and will put all my spending on this card for the next 12 months.0
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