Nationwide Credit Cards

steve_ben

When it comes to credit cards I am a self confessed rate tart. Once the interest free period runs out, I close the credit card account and replace the card with another.

I have just closed my account with Nationwide and received a letter of confirmation. in the letter they said that should I wish to apply for a Nationwide Credit Card in the future i would not be eligible for any introductory rate offers.

This is the first time i have seen this. I was wondering if this was a new effort by the credit card providers to stop people like me from trying to take advantage of the system

20aday

If I remember rightly if you re-open a credit card with Nationwide within the first year you'd be unable to qualify for any introductory offers but after that they'd deem you a "new customer."

steve_ben

The letter clearly states the following:-

If you wish to apply for a Nationwide Credit Card at any time in the future, you are welcome to do so. Future accounts will only be offered at the ongoing interest rate and will not be subject to any low introductory rate that may be available at that time

That seems to be pretty unequivicol to me.

I also thought that i would be eligible for a new card at the introductory rate after a period of time has elapsed. I have done this with Halifax a couple of times, but it seems that Nationwide are plugging that particular hole

Flish

If you look at the Select Credit Card page (apparently am not allowed to post links yet!) it states;

"If you already hold a Nationwide credit card or have closed one in the last 12 months you will not be eligible for the introductory offers."

So personally I'd accept the version that suits me most ;-)

B19JON

I have just tried to apply now and it says

Introductory offers
Unfortunately we are unable to provide you with an introductory offer. Our policy is that you cannot have an introductory offer on a new credit card where you have held one of our credit cards within the last 12 months. If you continue with this application your account will be opened without an introductory offer.

Maybe this is the way they will start to operate now...

planteria

i don't think you will find you are unable to find a good deal from another provider.. and i tend to find that Nationwide service is poor.

olly300

How did you manage to get Nationwide to close your credit card account?

I've had to resort to posting threads on them and linking to them on twitter before they have done anything. It's a complete joke that the only people in the organisation with a customer service bone in their bodies are their social media staff.

Scrounger

I find that raising a complaint usually elicits a response (together with a £50 ex-gratia payment for my trouble). :beer:

Scrounger

System

It was their old policy.

They revised it a number of years ago to place the 1 year restriction only.

Thrugelmir

steve_ben wrote: »

This is the first time i have seen this. I was wondering if this was a new effort by the credit card providers to stop people like me from trying to take advantage of the system

Most likely the start of a change of culture. As credit card providers are under the same level of scrutiny as Mortgages and Pay Day Lenders have been by the FSA.