Nationwide 0% BT Credit Card - Only 1 per lifetime

Any

I've had this 18 months ago.
I applied as I thought it has been 12 months, but I was 10 days short of those 12 months.
They had the cheek to have an argument with me to keep the card as it is still "good" for me. And that it will damage my rating if I close it now.

Told them to stick it.

But I do have new one now:-) Better then the one I wanted before!

thenudeone

sfax wrote: »

i.e. the point at which the card becomes worthless to the customer because they aren't offered a new 0% BT deal.

So you think that:

• Not having to keep £££s in a current account (probably earning 0% interest) to finance daily spend
• Not having to carry large amounts of cash
• Immediately having a buffer against which you can spend, with no penalty, in an emergency
• Getting 19-56 days free credit before you have to pay for your purchases
• Being able to budget so that a full month's spend comes out of your account just after your monthly salary goes is
• Getting additional protection against a supplier who fails to deliver, through the s75 liability

are all worth absolutely nothing?

sfax

thenudeone wrote: »

So you think that:

• Not having to keep £££s in a current account (probably earning 0% interest) to finance daily spend
• Not having to carry large amounts of cash
• Immediately having a buffer against which you can spend, with no penalty, in an emergency
• Getting 19-56 days free credit before you have to pay for your purchases
• Being able to budget so that a full month's spend comes out of your account just after your monthly salary goes is
• Getting additional protection against a supplier who fails to deliver, through the s75 liability

are all worth absolutely nothing?

Yes, all worth absolutely nothing to me as I use my Amex and my Halifax Cashback for all of my spending. This card was only ever going to be used for balance transfers, as I'm sure is the case for many people that only want it for its 18 months at 0%

Dirk_Gently_2

What percentage of their customers are the savvy ones who only use the card for interest-free BTs and then close it? I'd guess a fairly small percentage.

And I can see why they'd not want those people to be doing the same again and again - surely the idea of offers is as a sweetener to attract new customers who stay on as profit-bearing customer after the free sweeteners have run out?

Once you've demonstrated that you are savvy and likely to close an account at the end of the interest free period, why would they want you to be able to do it again? Yes, they might still make some money from you, but much less than they would from a customer who behaves the way they most like, running up a balance and not paying all of it off each month?

sfax

Dirk_Gently wrote: »

What percentage of their customers are the savvy ones who only use the card for interest-free BTs and then close it? I'd guess a fairly small percentage.

And I can see why they'd not want those people to be doing the same again and again - surely the idea of offers is as a sweetener to attract new customers who stay on as profit-bearing customer after the free sweeteners have run out?

Once you've demonstrated that you are savvy and likely to close an account at the end of the interest free period, why would they want you to be able to do it again? Yes, they might still make some money from you, but much less than they would from a customer who behaves the way they most like, running up a balance and not paying all of it off each month?

It's only Nationwide who do this. Other 0% BT cards would at least give you another 0% deal when you tried to close it, or even just when you asked for one. It's faily standard practice and I've done it many times with Barclaycard, Virgin etc.

You only need to close the account because if you only wanted it for a BT and there is no second BT deal available, you can't leave it open with a £0 balance and still take advantage of other companies' 0% deals.

As for only a small %, I don't know for sure but I doubt that's the case. This type of card is aimed at people that want to use it for BT. If you wanted a normal CC, you'd get much better rates on a different type of account.

"And I can see why they'd not want those people to be doing the same again and again" => but as we've already established, you can do it again and again as long as you wait 12 months after closing your account