Heads up - Nationwide to start charging on $ transactions....

[kristieuk]

Had this in my email from Martin Lewis - off to the Post Office credit for me I think!

Nationwide Cardholders Heads-Up! It's adding an overseas spending fee. Updated Guide
Nationwide's long championed the fact its plastic doesn't add charges for overseas spending, making it a very cheap way to do it; yet it's changing. What's happened? Most cards 'load' 2.75% on exchange rates, i.e., £100 worth of Dollars costs £102.75. Nationwide doesn't, but from 6 May for its credit card, and 1 June on the debit card, you'll pay an added 0.84% on spending outside Europe, jumping to 1% in July. Its spin? It may argue it's still not adding a fee, as this is what Visa charges it, but previously, like other specialist overseas cards, it absorbed the cost, now it won't. Cheapest oveseas spending: The best, Abbey Zero was withdrawn for new customers at 9am on Wed 4 March; the new top is Post Office's credit card, which doesn't charge a load anywhere; though Nationwide Debit still wins for in-Europe


I can follow the argument re their charges from Visa, but ultimately it is going to be adding 1% to the transaction. Hopefully the Post Office won't follow suit.

 

[wayneg]

http://www.disboards.com/showthread.php?t=2101647

Thread here about it, its slipped to next page now.

 

[wickesy]

Interesting to see that Abbey Zero are no longer accepting new customers. Unwilling to absorb all those coming from Nationwide perhaps.

 

[kristieuk]

http://www.disboards.com/showthread.php?t=2101647

Thread here about it, its slipped to next page now.

Ooops, sorry. Shows how on the ball I am

 

[tinks_1989]

This isnt very impressive

 

[wayneg]

Ooops, sorry. Shows how on the ball I am

At least you posted new info, I did not know they had withdrawn Abbey zero card, saves me having to make a choice, it will be Post Office now.

I got email this morning from Martin Lewis but only had time to read about free £20 loophole

 

[paulh]

At least you posted new info, I did not know they had withdrawn Abbey zero card, saves me having to make a choice, it will be Post Office now.

I got email this morning from Martin Lewis but only had time to read about free £20 loophole

its not withdrawn,they have only withdrawn the fee free bit for new card holders its still in force for people who had a card before nationwide announced there charging 1% fee now
Paulh

 

[wayneg]

its not withdrawn,they have only withdrawn the fee free bit for new card holders its still in force for people who had a card before nationwide announced there charging 1% fee now
Paulh

Thanks for clearing that up, not had time to read it yet. Maybe I should apply for PO card sooner than later they might do the same.

 

[paulh]

fee for nationwide think 0.87% rising to 1% in june
Paulh

 

[oceanscape]

I heard a rumour on another board that the PO Card might be closing to new applications soon, but remaining fee free.

 

[wayneg]

Just applied for PO card and been accepted. Will Nationwide have any customers left after this?

 

[wickesy]

Just applied for PO card and been accepted. Will Nationwide have any customers left after this?

They'll still have me, I've still got a fair balance on mine.

 

[wayneg]

They'll still have me, I've still got a fair balance on mine.

Gives you option to transfer across when filling in online. Might be a better rate of interest.

 

[wickesy]

Gives you option to transfer across when filling in online. Might be a better rate of interest.

I've done an application but it says they can't give me a decision online. Mind you I did declare x other credit cards - pick a card any card.

 

[Mermaid2sea]

We were going to wait until nearer the time......but since Abbey have decided to charge thought we'd better getting in there with the PO....just applied online we've both been accepted we both do have more than 1 cc each...

 

[tennisfan]

On BBC Breakfast yesterday the finance expert stated the 1% fee will only be charged for use outside of Europe. I know it will still affect many of you but if you use it in Europe apparently it will still be fee free

 

[wayneg]

On BBC Breakfast yesterday the finance expert stated the 1% fee will only be charged for use outside of Europe. I know it will still affect many of you but if you use it in Europe apparently it will still be fee free

Yes thats correct, we have totally stopped European trips though so no use to us. Will be using PO card in future(until they charge for that too)

 

[MrsJobba1]

Thanks for the heads up - I did not realise this.

I do have a PO CC but not used it since last year - I might use it for a small purchase £3 or so just to make sure I've still got it. What do you think?

 

[wickesy]

Thanks for the heads up - I did not realise this.

I do have a PO CC but not used it since last year - I might use it for a small purchase £3 or so just to make sure I've still got it. What do you think?

I would say there's no need, credit cards don't normally expire through lack of use.

 

[wayneg]

Just applied for PO card and been accepted. Will Nationwide have any customers left after this?

Recieved my PO card yesterday, sent me Platinum which I didn't expect, only £4,000 of credit but I think Nationwide started at that before I increased it. Hopefully this one will stay free.