There are a number of reasons why you may want to get a credit card, and if what you are looking for is an everyday spending credit card, you are in the right place. Next, we will be reviewing one of the best-ranked options for UK citizens and permanent residents.
The most impressive feature of this credit card has to be that you won’t pay any balance transfer or purchase fee for the first 12 months. Plus, under certain conditions, you will have an opportunity to earn cashback, and commission goes a long way when it comes to deciding on the credit card that suits your needs.
To help you, we have prepared a review of the Nationwide credit card, highlighting the fees/interest, as well as the application process and potential benefits. Let’s get to it!
Fees and Interest
First and foremost, it is essential to go through the potential costs of owning this credit card. The most important fee is the annual percentage rate, which is set around 17.9% if you were to take $1,200 as an upper spending limit.
While this varies, the representative APR should give you a good idea of how Nationwide calculates their interest rates.
As we have mentioned above, when it comes to the balance transfer and purchase fees, it is impressive to know that you won’t be subjected to any interest for the initial year. Not only that, but even after that time period has passed, you will be paying just 2.4%, which is quite low compared to what most banks offer.
For potential late payment fees or over-the-limit charges, you will want to contact Nationwide directly using the instructions that we will provide down below. In terms of the foreign transaction fee, it is set at 2.5% or $3.00, depending on which sum is greater.
To better understand what banks and other lenders include in their calculation for determining an interest rate or a transfer fee, we suggest that you check out this website.
How To Apply
When it comes to applying for this credit card, there are a couple of things that you will want to consider. First, to be eligible, you have to be over 18 years old and a UK resident. Along with that, you need to have a gross annual income that is above 5000 British Pounds, as well as prove that you haven’t gone through CCJs, IVAs, and bankruptcies.
Additionally, if you have missed more than 3 credit card payments in the past year, you won’t be able to own a Nationwide credit card. Although the application process is quite simple and efficient, the bank won’t accept you if you already applied and were refused 30 days before.
If eligible, you will receive the credit card within a couple of business days. After that, you can install the mobile application and reap all the benefits of the program.
Features and Benefits
There are a number of cool features that this credit card is highlighted by. First and foremost, you can be subjected to cashback and commission when you make purchases in Sterling.
Also, the fact that you won’t be paying any balance or purchase fee for the first 12 months makes this credit card quite an attractive offer, especially for students and those on a tighter budget.
Bank Contact Details
In terms of how you can contact Nationwide, there are a couple of different options.
Physical Address: Nationwide Building Society, Nationwide House, Pipers Way, Swindon, SN38 1NW, GPS/Geographical Postal Code Only: SN3 1TA
Phone Number: 0800 055 66 22; 24 hours a day, every day of the week
Website: click here
Summary
Frankly, the Nationwide credit card is a good choice for a number of reasons.
While it may not be ideal if you travel on a regular basis, given the fact that foreign transaction fees are applied, you will still enjoy a fantastic balance transfer/purchase fee policy and a cashback program for Sterling purchases!
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
