For those that didnt know

wendb69

Just to let you know, that I found out from Nat West yesterday that rules are changing on Credit Cards.

I have an outstanding balance on my credit card, and have just got a deal on the same card for %. Ordinarilly, any payments made to this account would pay off the new spend rather than the old, incurring interest. This is changing from January. So in effect the 'old' and higher interest debt gets paid off first. Good news for a change.

dmg24

This does not just apply to Natwest ...

onlypaddy

Been coming for months...

[Deleted User]

This isn't a very interesting thread, but don't throw your spam on it. Reported.

wendb69

Deleted_User wrote: »

This isn't a very interesting thread, but don't throw your spam on it. Reported.

Was told this by both MBNA and Nat West - so how is it spam?

wendb69

dmg24 wrote: »

This does not just apply to Natwest ...

Why would they "specifically" tell me this on the phone when completing a balance transfer then????

Tixy

wendb69 wrote: »

Was told this by both MBNA and Nat West - so how is it spam?

I think zx was probably referring to a spam post that has since been removed.

wendb69 wrote: »

Why would they "specifically" tell me this on the phone when completing a balance transfer then????

Because it makes them sound good, as though they are doing it to be nice, in reality all card companies are going to have to do this. Some have already changed over the last few months so they can advertise this as them being very nice and treating customers well.

EarthBoy

Nationwide have always paid the debt with the highest interest rate first. HSBC used to do so as well at one time, but several years ago they changed to paying off the lowest rated debt first, like most of the other banks. Now they are having to change back, of course.

danouk

Every credit card company has to do this from January. Natwest will of course spin it as a benefit they are giving to you and aren't they wonderful, but the reality is that they, along with all the other card issuers, have been forced into this by the government.