Nationwide credit card changes

Milarky

W.E.F. 1/3/2005:

http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=613

Does this mean however that 'Cash Reward' cards taken out before 1 March would still benefit from 1% for the first 6 months [I can't see how they can switch the rate during a fixed initial period] and only then drop to 0.25% ?

EDIT. Just found the answer to this - also at Nationwide:

http://www.nationwide.co.uk/creditcard/whats_on_offer/cash-reward/whats-on-offer.htm?

Meanwhile, it looks like a card to get before the terms change.

ashcarrot

Cash back will not be earned on transactions made abroad and with retailers registered outside the UK
The introductory cash back rate will be 0.50%
The ongoing cash back rate will be 0.25%
The maximum number of interest free days will be 46 days.

ashcarrot

Hmm glad i got turned down for one now (well a bit)

womblingfree_2

I have a Nationwide classic card which has come to the end of the 0% for 6 months and I was thinking of changing to the cashback one. However, I notice that the interest free period is being reduced to 46 days on this one.

When I get to the end of a 0% deal I usually do a balance transfer onto the Nationwide card which, if timed correctly will give me an extra 56 days interest free. (Nationwide are one of the few cards which have an interest free period on balance transfers).

Now I will have to do my sums to work out if the cashback I will accumulate will compensate for the loss in interest free days for a few balance transfers, or if I am as well just sticking with the card I have.