Nationwide 0% BT Credit Card - Only 1 per lifetime

sfax

I like to borrow on the cheap using 20 month+ balance transfers and get through a lot of credit card accounts. I always go through the charade of closing my account once the 0% balance transfer period is up (always with a £0 balance) and usually get some sort of offer once through to the “retentions team” after listening to a load of BS from the first people you have to speak to.

However, recently Nationwide didn’t even offer a lame 6 months, they just said there is nothing available and that I should wait 6-8 weeks and then ask again, which I did, and they still had no offer at all for existing customers, so I closed my (now pretty useless) account.

6 months later I thought I would test the terms and conditions clause that suggests you will only ever get one promotional offer in your lifetime and applied for another 22 month 0% account from them. They referred the application, then rejected it saying I already had an account. I called them to say that I didn’t have an account and they reviewed and then accepted the application. They then sent a credit agreement to sign but with a letter saying that because I had had a card with them in the past, I couldn’t have the introductory 0% offer, but I could have a standard credit card if I wanted.

So the moral of the story is if you like to surf the 0% deals and hold Nationwide, it may be better to leave it open because once closed you may never get a new 0% BT account with them. Would be interested to hear if anyone has managed to get a new 0% BT account from Nationwide after closing one

YorkshireBoy

I'm surprised they even accepted you, being as their eligibility criteria states...

The applicant must not have held any Nationwide Credit Card in the last 12 months.

http://www.nationwide.co.uk/Applications/CreditCardFAQs.htm

But to answer your specific question, I seem to remember a thread on here where someone had been given a second bite at 0% with them. Maybe a forum search will find it?

SCO

Seems a bad business model.

The credit card BT market is very compeditive and to only have one BT in your life with them would make me avoid using them.

Plus they are one of these companies that tend to only give you a card if you bank with them like Clydesdale/Yorkshire.

sfax

YorkshireBoy wrote: »

I'm surprised they even accepted you, being as their eligibility criteria states...But to answer your specific question, I seem to remember a thread on here where someone had been given a second bite at 0% with them. Maybe a forum search will find it?

I actually made a mistake on application and thought it had been 12 months already (confused the close date with another card) so yes, I was surprised it was approved (albeit after a referral). I also spoke to two different people at Nationwide and neither of them said either

a. you can't have a card because your last account was closed only 6 months ago; or

b. you'll get a card but you won't get 0% for 20 months

They just said I'll check, blah, blah, blah, oh, it's been approved, agreement is in the post. Obviously not a scenario they are used to dealing with

sfax

SCO wrote: »

Seems a bad business model.

The credit card BT market is very compeditive and to only have one BT in your life with them would make me avoid using them.

Plus they are one of these companies that tend to only give you a card if you bank with them like Clydesdale/Yorkshire.

Agree with you. Lots of competition of plenty more 0% deals out there to choose from. Hope they all don't start lifetime bans though! If this is the standard Nationwide protocol though, it's worth letting people know as it's a wasted credit search

YorkshireBoy

SCO wrote: »

Seems a bad business model.

It sounds like a good one to me!

As an example of a bad business model how about Halifax's? They've given me six 0% cards over the last 7 years. I've never paid a penny in interest, yet as soon as I'd cleared and closed an account they accepted me immediately (well, 30 days later) for another card. Furthermore, the last 3 cards have been 'guaranteed' offers from them to me.

Now that's a bad business model isn't it!?

sfax

YorkshireBoy wrote: »

It sounds like a good one to me!

As an example of a bad business model how about Halifax's? They've given me six 0% cards over the last 7 years. I've never paid a penny in interest, yet as soon as I'd cleared and closed an account they accepted me immediately (well, 30 days later) for another card. Furthermore, the last 3 cards have been 'guaranteed' offers from them to me.

Now that's a bad business model isn't it!?

:rotfl: - I like the sound of that. Annoyingly I have a Halifax cashback credit card so I can't get a 0% card from them too. I am toying with Amex at the moment so may ultimately switch all of my purchases to them so I can open up a recurring Halifax 0% BT avenue

chattychappy

Business model? Nationwide?

Oh I think we are forgetting the wholier-than-thou-we're-in-it-for-our-members-not-nasty-shareholders-we're-on-the-moral-high-ground stuff!

SCO

chattychappy wrote: »

Business model? Nationwide?

Oh I think we are forgetting the wholier-than-thou-we're-in-it-for-our-members-not-nasty-shareholders-we're-on-the-moral-high-ground stuff!

Ah forgot about all that. LOL

They will eventually run out of customers that can get there BT cards.

SCO

sfax wrote: »

:rotfl: - I like the sound of that. Annoyingly I have a Halifax cashback credit card so I can't get a 0% card from them too. I am toying with Amex at the moment so may ultimately switch all of my purchases to them so I can open up a recurring Halifax 0% BT avenue

Same here, as long as clarity gives me the £5 a month i will keep it. If that goes the card goes.

rb10

SCO wrote: »

Seems a bad business model.

The credit card BT market is very compeditive and to only have one BT in your life with them would make me avoid using them.

It's not one BT in your life ... it's one free BT in your life.

Why should they give someone endless access to money at 0%? They have to pay for the money, so a good business model would be to charge for it.