merchandise interest?! best card for abroad?

rustynash

hello guys

my father is in a right state today as he has got his credit card stuff from nationwide (whom he chose as he doesnt have to pay conversion charges on currencies) and they have whacked on something called a merchandise interest which he has to pay £20pm! what is this? he says it must be something to do with paying in advance of money he is taking, and that that is ridiculous that he has to pay for not even borrowing money or something..

i dont know anything about credit cards so was wondering if someone could explain what this mysterious merchandise interest is, there is no word about it in the nationwide literature..

secondly, this mean he is now looking for a new credit card, basically one which wont charge when he goes abroad (he does this a lot). so a good card for going abroad.

thankyou for your help!

DesG

You cannot withdraw cash from a credit card without paying interest!


He needs a Nationwide flexaccount debit card/cash card if he wants to withdraw cash abroad without fee.

(Purchases on the Nationwide card while abroad are not a problem.)

Cheers, Des.

King_Of_Fools

It sounds like your Dad paid some money into his credit card before spending and then did not pay at least the minimum payment the following month. If this is the case then it is the same for all credit cards, not just Nationwide. He has to pay at least the minimum payment each month even if a large payment was made the previous month.