Nationwide, only one introductory offer???

edited 30 November -1 at 1:00AM in Credit Cards
9 replies 1.3K views
DazzaDazza Forumite
110 Posts
edited 30 November -1 at 1:00AM in Credit Cards
Hi all,

Thought it was about time I registered instead of lurking :)

Anyway here's my query if any of you have come across this before.

I have applied and been accepted for the Nationwide Credit card, however was querying the guy on the phone and he stated that because I had a Nationwide CC back in 1999 to 2002 that I won't be entitled to the 0% on balance transfers and purchases this time around!!!! Anyone ever heard this before, i'm a bit peeved to say the least.
Weird, because I got a Egg card back in July (the second time I have had one of these) and they gave me their offer at the time along with the anniversary deal.

Any info would be appreciated.

Dazza

Replies

  • ReaperReaper Forumite
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    Apparently Nationwide will let you have a cashback card once and a 0% interest card once. When you have used each of those offers they will never be available again.

    Eventually I expect all cards to operate like this, it's the logical way to overcome stoozing and a lot more honest than erratic BT fees.

    Until then you will have to go with another company if you want a 0% deal.
  • DazzaDazza Forumite
    110 Posts
    Seems this is true :(

    Quoting from their website:

    "You can only hold one type of Nationwide credit card at any one time.

    If you feel that you would benefit from switching to a different Nationwide Credit Card you can ask to change your card type (you will only be eligible for one introductory rate offer per card type)."

    Don't recall if I got an 'introductory rate' back in 1999, do you think they could check?

    The main reason I got the card was for holiday in the summer, but transferring £800 from my egg card was the second reason.
  • Reaper wrote:
    Apparently Nationwide will let you have a cashback card once and a 0% interest card once. When you have used each of those offers they will never be available again.

    Eventually I expect all cards to operate like this, it's the logical way to overcome stoozing and a lot more honest than erratic BT fees.

    Until then you will have to go with another company if you want a 0% deal.


    I wonder how they'll poach each other's customers if they end up like that. Perhaps they will go back to offering us a sports bag and a smile?

    There will always be some company like Capital One or MBNA who want to be top dog, and who will offer all sorts to take other bank's customers. Once these other banks realize they're losing their people they'll have to offer something in return.

    D.
    Doh!
  • GalstonianGalstonian Forumite
    1.3K Posts
    If the fight for market share means becomes too bloodthirsty then they may start trying to retain customers. Instead of 0% deals to attract customers who obviously have no loyalty they may start offering more life of balance offers, perhaps even with the ability to use the card for purchases without it effectively screwing up your BT.

    Or maybe they will turn to their existing customers and try to suck the marrow from their bones, who knows?
  • MilarkyMilarky Forumite
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    Dazza,

    ...Currently Nationwide allows you to balance transfer and charges you no interest on these provided the statement balance is repaid in full [otherwise you get stung with interest, of course!]

    If you request a BT just after the statement date and set up a direct debit to ensure the full balance get taken 25 days after the following statement, you can then get upto 7 weeks interest free every two months in practice BTs can now be requested online, can be for as little as £1, and can take as little as one day to arrive. Linked up to an Egg card, for instance, and you can have the cash earning interest after three days. The card can also be used to make your minmum payments on other credit cards you may have on promotional rates.

    Although not quite as good as having a free balance transfer for 6 or nine months at a time, I find this works well [so far]. Of course they may just change the terms and conditions at any time.
    .....under construction....
  • westernpromisewesternpromise
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    Milarky wrote:
    ...Currently Nationwide allows you to balance transfer and charges you no interest on these provided the statement balance is repaid in full
    I thought that was one of the features they just binned effective March 1st, along with 0.5% cashback and whatnot?
  • MilarkyMilarky Forumite
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    I thought that was one of the features they just binned effective March 1st, along with 0.5% cashback and whatnot?

    Nope, hasn't changed - it still says:
    Interest free period Maximum 56 days for purchases and balance transfers if you pay your balance in full and on time. There is no interest free period for cash advances.

    http://www.nationwide.co.uk/creditcard/whats_on_offer/classic-card/summary.htm

    [Just turn over your last statement and you can see all this information printed on the reverse]
    .....under construction....
  • Well I have a cashcard from NW the cashback has been reduced to .25% from March.

    Please note that from 1 March 2005 the maximum number of interest free days on the Cash Reward card will be reduced from 56 to 46 days. The maximum number of interest free days will remain at 56 for the Classic and Comic Relief cardhe days
    A wise man changes his mind, a fool never will.
    El sabio muda el consejo, el necio no.
  • [Well I have a cashcard from NW the cashback has been reduced to .25% from March.

    QUOTE=NW ]Please note that from 1 March 2005 the maximum number of interest free days on the Cash Reward card will be reduced from 56 to 46 days. The maximum number of interest free days will remain at 56 for the Classic and Comic Relief cardhe days[/QUOTE]
    A wise man changes his mind, a fool never will.
    El sabio muda el consejo, el necio no.
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