Nationwide Credit Card

eagle

Wig wrote:

I was just going to warn you about the cashback card, student100 has all ready had a go.

I got the cashback version last month, only after applying did I see that they only give you 46 days interest free period, which means you have to settle your account really quickly.

I just got the statement today - 1st June - payment due date 11th June. "If paying by cheque please allow up to 7 working days for payment to clear." Between today and the 11th there are only 7 working days! I have to say I will prolly change this card to a comic relief one after the initial 6 months. The amount of time given to settle ones account is just rediculous.

Ah, thanks for that!
I was going to ask which card is best. I went for the Classic card eventually (think I saw your post in another thread, wig, although I could be wrong).

Wig wrote:

Regarding the benefits of the NW card used abroad, it's not only when you purchase foriegn currency it every payment you make with your card abroad for all purchaces, so the 2.75% which you won't have to pay could add up to a small saving - obviously not a huge saving - but it will be cheaper (alledgedly) to use NW abroad than your other cards.

Thanks for that - I agree with you fully. It's not a huge saving, but a saving nonetheless.

Wig wrote:

regarding the exchange rates used. That poster above says they use the standard rates of exchange, is probably true. When I am on hols in June I intend to buy two identical amounts from the same shop on the same day using my NW card and my Barclaycard. Then I'll see what happens on the statements.

Again, thanks very much for that. I would be most grateful if you could let us know what happens when you get the bills for the two purchases you mention. I have only just ordered my Nationwide card and intend to use it this summer, but it could be ages by the time I get my bills through for comparing costs, fees, exchange rates and others.

With regards to the Platinum cards comment - I made a mess of my original post and this was pointed out in another reply in this thread.

Wig

Yes it would have been a post by me you saw on a diff thread on this subject.

I will post my results sometime in July.

Platinum, I know I saw it, I was just commenting on the worthlessness of Barclaycard Plat, the only benefit I get is an 0800 acess number for customer services!

grumbler

Wig wrote:

Yes it would have been a post by me you saw on a diff thread on this subject.

I can predict your result. The difference for purchases will be exactly 2.75%. And the NW rate will be very close to the interbank one that you can find on http://www.oanda.com/convert/fxhistory

Of course, if you are lucky not to be a victim of the new scam:

Something interesting on nationwide.co.uk

Wig

grumbler wrote:

I can predict your result. The difference for purchases will be exactly 2.75%. And the NW rate will be very close to the interbank one that you can find on http://www.oanda.com/convert/fxhistory

Of course, if you are lucky not to be a victim of the new scam:

Hi, I'm back from holiday. I have both credit card statements, but unfortunately my Barclay card statement isn't showing the Euro purchase until next month so I will be unable to report for another month.

My Nationwide card statement is showing purchases in Euros at rates very-very close to the interbank rates.

Grumbler, I'm sure you're right but it will be interesting to see the results nevertheless. I didn't experience the new scam, but I only used the card in french supermarkets.

Katykat

I've had N'wide debit & credit cards for ages and it's the only credit card that I NEVER change. I'm a TART with all my other cards and havn't paid any interest for about 5 yrs, but as long as I pay my N'wide card off in full whenever I use it, that doesn't cost me either. When I go overseas, I put my spending money into my Flex account ( no currency exchange) and draw local currency out at my destination. I've almost always got a better exchange rate this way. Once I checked the rate at Manchester airport before I got on plane and Ausiie dollar was $2.21 to the £. On arrival in Australia I withdrew cash in the airport and got $2.49 to the £. This was in the space of 24hrs.. Also, when you purchase overseas with the credit card, always ask them to debit your account in local currency. This again is usually a better exchange rate

Wig

OK the results are in!

The two cards have the same exchange rate (almost certainly). The difference between the two costs when converted to pounds was exactly the amount listed on the barclaycard statement as "(this includes XXp comission)"