MSE News: Nationwide revamps credit card with new overseas perk

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"The society will re-introduce no commission on spending anywhere abroad – but with a big catch ..."

Read the full story:
Nationwide revamps credit card with new overseas perk

michaels

Martin

I notice that credit cards are now reporting cash advances to Experian - in the light of this is it 'safe' to use a credit card for overseas cash withdrawals regardless of whether this is the cheapest way to get cash?

Roger1

Too little, too late.

As a long-standing Nationwide member, I was very disappointed when NW slammed the door in my face (re overseas use of NW debit cards) alongside the chancers. They could have found a way to keep me loyal.

Instead, as a direct result of NW's misguided actions, I have both Santander Zero and Halifax Clarity MasterCards and carry my NW Gold card abroad only as standby. The NW debit card remains locked up at home.

As a believer in the building society movement, it is sad for me to now depend on banks for my overseas card use.

I see that my exisiting NW card will continue on current terms but will no longer be issued to new applicants. The clumsy way of building up points for overseas use of the new card - 20% of UK card use to qualify for 'free' use abroad - is far too clumsy to contemplate.

I'll just continue to use my points-earning cards in the UK and Zero and Clarity abroad.

I'd love to be loyal to NW, but hey NW, loyalty works in both directions!

chattychappy

Yeah... agree. And who knows what the deal will be after a few months.

Also for existing customers, what does this mean - they have to re-apply to get the dubious "benefit" of this card? Mind you - could be worth it if NW allow them go get the 17 month 0% BT deal again. Probably won't though.

SG_Guy

Why bother with this clumsy, half-hearted attempt from Nationwide when the Halifax Clarity Card beats it hands down domestically and overseas and also comes with a £5 reward if one spends at least £300 per month and has the Reward current account as well (another £5 per month there!).

ironlady2022

I too have replaced NW for post office and Halifax clarity. Too much messing about for this new one. I'd upgrade up to it but wouldn't bother applying if this meant another credit search.

Joe_Bloggs

@Roger1
Spend £300 a month on the clarity and you get a fiver if you have a reward account. There is no need to close any Nationwide accounts.
Once that bonus is reached then I switch to Egg Money 'Pre Monthly Fee version' for 1% back on what I spend.
J_B.

chattychappy

NW Marketing can have fun with this.

Given they say that their current visa cards offer "commission free purchases abroad" (at the bottom it says they pass on the 1% "third party charges they incur "on your behalf") perhaps they can now claim that this deal means they are paying us 1% for our foreign spend (though naturally this is set against the charges they pay they pay on our behalf).

KTF

Nationwide are seemingly adding ever more hoops to jump through on their products which is a complete about face from a few years ago and at odds to how they used to market themselves.

I still have one of their Cash Rewards Visa cards but haven't used it for a while as the debit card used to be fine for overseas spending until they changed the rules so now I have a Halifax Clarity with Santander Zero as backup instead so I dont have to worry about what card to use in whatever country I am in.

My main account is still with Nationwide as I dont see any benefit in moving to another bank given that I already have multiple Halifax Reward accounts for the £5, Lloyds Vantage for the interest rate, etc. and I do get the 'free' European travel insurance from them.

Cazzkins

I don't know why the supposedly non-profit making Nationwide have bothered wasting time and yet more of their customers' money with this half-hearted attempt at wooing back lost credit card customers :mad:
The Halifax Clarity, Santander Zero and Post Office credit cards all beat this proposed new offering hands down for purchases abroad and there are numerous cashback/loyalty credit cards for purchases in the UK!
When Nationwide remembers it's original remit as a mutual organisation and starts treating its customers fairly again THEN I'll consider using their products. Meanwhile, I'm forced to use those awful profit-making BANKS! :rotfl:

rb10

Personally I believe that this is an excellent idea of Nationwide's.

Ok, it's not a market leading card, but it's still up there with the best of them for foreign spending and far better than cards available nearly everywhere else.

Cazzkins wrote: »

When Nationwide remembers it's original remit as a mutual organisation and starts treating its customers fairly again THEN I'll consider using their products.

Nationwide's principal remit is to support its members, not its customers as you claim. Those people who are customers but not members (e.g. just hold a credit card) are there to add value to the society (and possibly to foster a future membership relationship), and are not actually there to be supported in the same way as members.

Nationwide is treating those people who have a 'proper' relationship with them fairly. If you use their card in the UK, then they'll reward you. If you are just trying to take advantage of their offer (thus costing them money), then why should you get the reward?