Nationwide Credit Card

MarkyMarkD

The credit card business hasn't been impacted at all by the Portman takeover. This is just a random systems failure, not linked to anything else, IMHO. It could happen to any bank/BS.

The reason I'm surprised people are excited about how much they think Nationwide are making out of this is that:

(a) it doesn't affect the customers - at least, the aggregate amount doesn't;
(b) it's not really true, because of the costs of dealing with the flak; and
(c) because the amount isn't significant to a large institution.

enakn

I'm getting charged £10.78 Merchandise Interest, same reason.
Just wanted to say thanks for posting this as I was gonna ring them as they hadn't answered my message online but since there are obviously loads of us I shall wait longer and save myself the trouble.

Garetha

Just checked my Nationwide credit card account online - no unexpected transactions for me - so this problem doesn't affect everyone.

Nationwide is brill if you spend abroad - no currency conversion charges.

Card Awards - Nationwide has been campaigning for greater clarity in the credit card market since 1999 and has now received an award for "Most Responsible Credit Card Lending Practices" at this year's prestigious Card Awards. We've been recognised for transparency and clarity on credit card information, our positive order of payments and for commission- free card use abroad. Which means we've improved the information we provide to our customers and saved them money.

Argon

All Nationwide credit card customers should be on guard for spurious charges.

It looks like Nationwide messed up an upgrade to the credit card system around the second week in March. I too was charged interest after paying in full by Direct Debit. Nationwide has made a huge mistake by not coming clean about this blunder. It took them a week to reply to my website message. They claim "a system generated error which Nationwide is refunding back onto our card holders account".

Systems do not make mistakes. The people responsible for systems do that.

An honest notice to the Branches and on the Website would have spared us, their customers, the wasted time and costs trying to find the truth. All they needed to announce was "Sorry, WE have made a mistake. We promise to correct OUR mistake and it will not cost you anything".

If I cannot trust Nationwide to be honest about mistakes with my credit card account then I cannot trust Nationwide with my savings.

NickHo

Yes I got a similar message to my online query. I have replied to them asking two further questions:
1) Why did I have to find this out through the forum of the Money Saving Expert and not either by letter or at least something posted on the home page of their website? note when the benefits agency lost the disks with claimants details on them there was a notice on the NW website that very afternoon.

2) If I make a mistake they charge me at least £30. So what compensation are they offering us? What is sauce for the goose etc.

I'll let you know the reply if I get one.:mad:

mark*w_4

We were abroad using our Nationwide credit card this week when it was refused on Tuesday, with the message card cancelled (and we had told them we were going abroad and the exact dates). We've then spent ages and racked up a small fortune attempting to get through on the telephone number, as we thought maybe our card had been used fraudulently and that was why it had been cancelled.

Luckily, my wife had another credit card, but at the moment I'd be very cautious about relying on a Nationwide credit card abroad.

Argon

Has anyone else been offered an interest-free month? Check your online Credit Card Statement for March. Do you see your full balance with an Estimated Interest* of £0.00?

(" * if you make the minimum payment shown on this statment and it reaches us on the due date, we estimate that your next statement will show an interest charge of £0.00")

Quick - take a screen print before they change the offer!!

The spurious "Mechandise Interest" has been repaid to my account today with a false transaction date of 11th March. They know about their mistake but still intend to debit my bank next month for the wrong amount.

And there is still no notice on the website.

Nationwide, proud to be different. Really?

MarkyMarkD

It's not a false transaction date. It's a backdated transaction. Presumably 11 March is the date the incorrect interest was originally charged?

By backdating the interest they are ensuring that customers who don't clear their balance in full aren't charged interest on the (incorrectly charged) interest.

It's only full balance DD customers who are going to be over-debited. And as I've posted before, the financial impact of that is too small to get worked up about.

twiglet333

I have just checked my cc and have been debited £55 for merchandise interest!!!!!

have been on hold now for near on an hour!

NickX

MarkyMarkD wrote: »

It's only full balance DD customers who are going to be over-debited. And as I've posted before, the financial impact of that is too small to get worked up about.

MarkyMarkD do you work for Nationwide ?

I cannot understand why you keep suggesting that this is a minor issue that people are getting worked up about.

IMO it is NOT, it is a major issue bordering on the criminal.

Nationwide have incorrectly debited funds from millions of peoples accounts and not even made a formal apology or even put an announcement on their website.

If we the customer make a mistake, do not pay our bill on time, or pay less than we intended, or accidently make a purchase on a BT card, then we get seriously penalised for it with interest and charges.

In this case the fault is with the bank and they should own up to it, and pay compensation to all the affected customers.