Classic from Nationwide

Card Details
Overall Rating:
Issued By:	Nationwide
Card:	Classic
Network:	Visa
Category:	Mid Interest
Acceptance:
Insurance:	Purchase, Travel Accident, Extended Warranty
Service:	Branch network. Online account management. 8am-10pm telephone line (Mon-Fri, 8am-8pm Sat).
Comments:	Great Foreign Usage
Pitch:	"Your perfect travelling companion. Check out why our cards are better than cash abroad!"
APR & Rates
Typical APR:	14.9%
Interest Free Days:	56
Minimum Repayment:	-
Annual Fee:	no annual fee.
Balance Transfers
APR:	4.9%
Period:	12 Months
Charges:	-
Purchases
APR:	0% interest
Period:	9 months
Rewards
Type:	No rewards scheme.
Description:	-
Reward Rate:	-
Period:	-
Comments and Reviews
Aimed At:	Individuals that travel overseas extensively or frequently purchase products from non-UK internet sites. Best for people that usually clear their balances in full each month. Can have some short term debt.
Review:	Nationwide Classic Charging 13.9% standard APR, the Nationwide Classic credit card comes with an introductory interest rate of 0% for six months. You may immediately think that this is nothing special. Well, in that case, you’d be wrong. The Nationwide credit card offers the best deal when it comes to charges and fees, and these savings add a great deal to the already acceptable interest rate. We’ve put together an explanation of the benefits of Nationwide cards (below). However, we have to say that we’re mightily impressed with the transparency of information at Nationwide, where there really seems to be the least hidden charges. We applaud the society for this, but at the same time must point out that there are many other highly competitive cards out there. In a nutshell though, Nationwide wins the day if you plan on using your card overseas or you frequently purchase from foreign internet sites. Nationwide Credit Cards As the largest remaining mutual building society, Nationwide cards offer a number of features which sets them apart from other UK credit cards. Most credit card issuers charge a foreign transactions fee of up to 2.75% on all purchases and cash advances made in any currency other than UK Sterling. These foreign usage fees also apply on debit card transactions and ATM withdrawals made from current-accounts. Nationwide are one of the few card issuers that do not charge you for using your card outside the UK. This is not only useful for people that travel frequently, but if you make a lot of online purchases from websites based outside the UK, this facility can also be extremely useful. When using an ATM, card issuers will charge you a handling fee of up around 2% of the transaction for cash advances made on a card. This charge also usually applies for withdrawals from cash machines outside the UK, regardless of whether a credit card or debit card is used. These fees can penalise you particularly badly if you use your card to withdraw lots of small amounts of cash outside the UK, as the minimum charge for doing this is generally between £1.50 and £2. Nationwide only charge £1 for cash advances both outside and within the UK (although this increases to 1.25% [minimum £1.25] from 1 June 2004. Credit cards operate on the basis that your repayments pay off the balance that charges the lowest interest rate first, right up to paying off the highest APR balance at the very end. With Nationwide, once the minimum payment has been made, payments are deducted from the balance that bears the highest interest first, then works its way down to the lowest APR balances last. It means the Nationwide doesn’t make as much money as they could, but that’s one of the many benefits of banking with an organisation that does not pay out profits to shareholders.
Verdict:	-
Overall Rating:

 
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