Nationwide Credit Card

[Melcatfish]

Can someone please explain what the advantage of a nationwide cc is and whether you have to have your main current account with them. For instance could I open an account now or get a cc just for the benefit of our trip?
How is it better than travellers cheques or cash?

Mel
x

 

[cocinelle]

Hi Mel!

Not sure about their credit card, but I opened a second current account with them to take advantage of their 'no charges on cash withdrawals abroad' policy. My main current account is with HSBC and each time you withdraw money overseas, it charges about £3. Nationwide would only give me a cash card at first (I've since upgraded to a debit card), but as someone who doesn't feel comfortable hauling large wads of cash around, I prefer to use ATMs anyway (exchange rate they offer not bad either).. Used it all around the world (from Thailand to Tenerife) without problems..

Hope this helps,

cocinelle xx

 

[Pootle]

Using the Nationwide credit card means that any dollar transactions are converted into sterling at a commercial - not a tourist rate.

For example, the current tourist rate against the £ is around $1.79. If you purchased in the US using the Nationwide credit card, it would go through at a rate of about $1.85.

With other credit cards (there is one other exception but I forget which it is), the purchase would go through at $1.79.

It is impossible to buy at that rate (as far as I know) unless you are buying large amounts of currency (minimum of about £5000).

It's the same with the euro - tourist rate about 1.45 euros, purchases on Nationwide cc go through at about 1.50. They don't take the 2.75% loading which others take.

Sorry if this is a bit long-winded

 

[gillrogers]

We have a nationwide credit card and have used it in Florida. The great advantage is that you do not get any commission added on when the credit card converts from dollars to sterling. (Most other credit card companies do this and most people are not aware!)
The conversion price has always been exactly what we worked it out to be. I would recommend nationwide c/c to anyone.

 

[patdavies]

Actually, VISA load Euro transactions as all VISA international transactions are in US$.

So if you buy something in Euros, the transaction is converted to US$, transferred to UK and converted to UK£ from dollars.

Mastercard however, do direct spending currency to home currency conversion.

BTW, My LloydsTSB cards convert at better than tourist rate

 

[Lauraken]

I'd just like to add my vote of approval for the Nationwide credit card
After hearing about it on this site, Iapplied for one online.
Towards the end of our holiday I started to get a bit panicky, as I hadn't confirmed the exchange rate and seemed to be using my card quite frequently...
Anyway, when I got my statement, the balance was suprisingly low. There was no commision charge and a generous exchange rate - I'd spent alot less than I'd feared!

I would recommend taking some cash too, for hotdogs etc.

Laura

 

[AlexE]

On the subject of Nationwide I have been a customer of them for years and have only used my debit card in the US - we have a Virgin cc to collect the airmiles.

Question:
If I was to get a Nationwide credit card have they got the offer where I can transfer my balance from Virgin cc to their own , do they have a interest free period for balance transfers?

Therefore I could still collect my airmiles and also enjoy interest free credit?

Help on this would be appreciated

AlexE

 

[Miffy2003]

Hi Alex,

Looks like they have a 0% intro rate for balance transfers for 6 months:

http://www.nationwide.co.uk/creditcard/whats_on_offer/classic-card/Whats-on-offer.htm

Have a look at the above link, but that's how it looks to me!

Karen

 

[lisagirlyUK]

yup, I just got one for my trip in a few weeks. I dont have a nationwide account. The main reason I got it was that I was horrified that my normal CC would charge 2.75% for each transaction. This card doesn't charge and you get a good conversion rate. Also because I have just opened up an account, I get 6 months interest free!! woohooo!!!!!

HTH!!

Lisagirly

 

[gillrogers]

If anyone is going to get a nationwide c/c, they do different types. The one we have is a cashback card and its really great getting some cash knocked off your bill at the end of every 12 months. The also do a charity card - works the same as cashback but the money goes to charity. If you already have an ordinary n/wide c/c you can transfer over to the cashback card.
Just a thought for anyone who wants to save even more money!

HAPPY SPENDING

Gill

 

[Paul Burrows]

Be aware, that for security reasons, you may only use your card for a limited number of transactions per day. I think the daily limit is 5. Exceed the limit at your peril because you will spend the rest of the holiday trying to convince Nationwide your card has not been stolen.

 

[AlexE]

Thats OK if they cancel the card after 5 transactions - I wont panic as I can use my Virgin credit card or Sainsbury's - lol !

AlexE

 

[kateave]

IT'S NOT TRUE THAT NATIONWIDE WILL CANCEL YOUR CARD AFTER 5 TRANSACTIONS.


i 've just phoned customer helpline(O8457 99 88 99 ) as an existing credit card holder and a nice lady told me that there is NO limit on the number of transactions in one day . if anything the retailer will be asked to phone nationwide if there's a problem to confirm it's your card.

the only limit is the total amount you're allowed to spend.i.e. your credit rating.

that's a relief as going to a mall shopping and buying food and prezzies would certainly put you over the 5 uses in one day. i mean that 's only 4 shops and 1 restaurant isn't it?!!!!!!!!

so relax folks and keep spending!!!!
Kate