Alternative to Nationwide Select CC

philip1427

Nationwide have just informed my that they are dropping their cash back rate to 0.25%

I try to pay on Amex where I can but some shops don't take it, can anyone recommend a good visa/mastercard cashback CC to replace to Nationwide Select.

I fully anticipate Nationwide will be losing a lot of CC revenue this way...

gt94sss2

Have a look at this article

The Aqua Reward card is decent as long as you don't need a very high credit limit.

Alternatively Santander and Natwest offer cashback credit cards but these come with monthly fees (potentially waived if you have a specific current account)

Fingerbobs

There's also TSB cards, which offer 1% cashback on up to £500 of spend each month if you also have their Classic Plus current account (which is free and has its own perks), but that offer is scheduled to expire in June 2018.

System

philip1427 wrote: »

Nationwide have just informed my that they are dropping their cash back rate to 0.25%

I fully anticipate Nationwide will be losing a lot of CC revenue this way...

Nationwide can only make 0.3% on your transactions...

They won't miss paying you 0.5%.
Even at 0.25%, they likely barely break even.

RG2015

gt94sss2 wrote: »

Have a look at this article
Alternatively Santander and Natwest offer cashback credit cards but these come with monthly fees (potentially waived if you have a specific current account)

How do you get the Santander monthly fee of £3.00 waived?

I do this for NatWest but cannot see any equivalent fee refund current account on Santander.

copperclock

We use a Tesco card as out Amex alternative to get a few Clubcard points. We're probably going to change them into airmiles.

gt94sss2

RG2015 wrote: »

How do you get the Santander monthly fee of £3.00 waived?

I do this for NatWest but cannot see any equivalent fee refund current account on Santander.

They were doing it some months ago - doesn't seem as if Santander are currently offering it though

aleph_0

Heng_Leng wrote: »

Nationwide can only make 0.3% on your transactions...

They won't miss paying you 0.5%.
Even at 0.25%, they likely barely break even.

This. What this also means is that the other providers offering over 0.3% are likely to be considering their position.

The game in town now is getting the other cards before they are withdrawn. The aqua card is most at risk (they'd have to subsidise your 0.5% from the fact they're targeting individuals with lower credit ratings, but then can use credit limits to reduce their costs). Asda/Amazon/John Lewis might survive, because they might be happy to subsidise to keep their brand in your wallet. Providers might/might not be generous about letting existing card holders keep benefits.