Nationwide Select - cashback down from 0.5% to 0.25%

glider3560

From 11th January 2018, cashback is dropping for existing customers to 0.25%.

https://www.nationwide.co.uk/support/support-articles/important-information/select-notification

Nebulous2

glider3560 wrote: »

From 11th January 2018, cashback is dropping for existing customers to 0.25%.

https://www.nationwide.co.uk/support/support-articles/important-information/select-notification

That wasn't what I wanted to hear! I've put thousands of pounds through that card in recent years and have pretty much stopped using the Barclaycard cashback one since they stopped the 1% Amex card.

A4445

Wow not impressed either. It be back to ASDA cash back or Natwest reward for me. Nationwide won't get much business from me anymore 0.25 is beyond rubbish. Even AQUA reward is better!

EarthBoy

For new customers applying after 11 January the cashback is stopping altogether.

Nick_C

A shame but not surprising. A consequence of EU meddling.

Missus_Hyde

That’s a shame; we’ve used that card quite a lot recently and got quite a lot of cashback from them.

Ah well, I notice they’ve dropped back on the introductory rate for their FlexDirect account for customers who’ve previously had the 5%, so I’m not really surprised.

wiseonesomeofthetime

It still has Unlimited commission-free purchases abroad though, so well worth it for me.

The commission was never really a deciding factor for me as it really is just pennies again.

I'd earn/save more by giving up one Costa a month and sticking the price into a jar :-)

System

A4445 wrote: »

Wow not impressed either. It be back to ASDA cash back or Natwest reward for me. Nationwide won't get much business from me anymore 0.25 is beyond rubbish. Even AQUA reward is better!

They will be only making 0.3% (max) so 0.5% cashback would have actually cost them money.

That said, I love their statements about treating everyone one equally - yet they don't discontinue cashback for all not just newbies.

glider3560

wiseonesomeofthetime wrote: »

The commission was never really a deciding factor for me as it really is just pennies again.

This year, to date, I have accrued about £80 in cashback just for my normal spending.

To be fair, it was an unusual year for me (I don't normally spend anywhere near that much). Had several very expensive dentist bills (in the thousands) which were later reimbursed by my health insurance, then moved house so needed to spend money to furniture, trademen, etc etc. Nevertheless, it's £80 more than I would've had paying on another card or cash.

hollie.weimeraner

My first years cashback is due in January so will possibly be looking for another card. May get rid of it but not sure what to replace it with, .25% is slightly better than nothing I suppose.

I tried Amex a few years ago but got fed up being rejected whenever I presented it for payment.

wiseonesomeofthetime

glider3560 wrote: »

This year, to date, I have accrued about £80 in cashback just for my normal spending.

Nevertheless, it's £80 more than I would've had paying on another card or cash.

Well done.

That is why I put, for me , in italics in my post.

Each based on their own circumstances.

I put my spend on my 0% MBNA card and the payments into the Nationwide regular saver (when it was £500 per month, not £250, so £6,000 held)

Should return more than the cashback would have (alone), however, this is only due to a nice lengthy promotional 0% period.

I will still get my pennies from the NWCC on top :beer: