Nationwide credit card balance transfer review

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Nationwide is one of the biggest saving providers in the United Kingdom as well as the largest building society in the world. It is also one of the top three providers of mortgages in the United Kingdom. Besides this, Nationwide is also a chief provider of credit cards, personal loans, and current accounts. The bank has more than 14 million members till now and is rapidly growing in its customer base. 

Nationwide offers a wide range of financial products and services, including current accounts, loans, saving accounts, credit cards, ISAs, mortgages, investments, and insurance. Among its credit cards, one such credit card is Nationwide credit card. 

Nationwide credit card balance transfer overview

Image courtesy: Lenders List
Image courtesy: Lenders List

The Nationwide credit card is great for balance transfers. It also offers interest free period for 12 months to cardholders. So, let us have a look at the various features, benefits, and fees of Nationwide credit card and decide if it is worth opting for or not. 

Features and benefits of Nationwide credit card balance transfer

  • 0% interest on balance transfers for first year, which must be completed within the initial 3 months of opening your credit card account.
  • No balance transfer fees for the initial 3 months of opening your credit card account, after which you have to pay 2.4% or £5, whichever is greater as interest on balance transfers.
  • 0% interest on purchases for first year from the account opening date
  • Commission-free allowance for foreign usage of this credit card
  • Get exclusive rewards when you shop on the high street or online with Simply Rewards
  • No annual fees
  • Free mobile application
  • Online account management feature through which you can view your credit card statements, check credit card balances, and much more
  • Pay your credit card bills using Apple Pay anywhere at anytime

Fees of Nationwide credit card balance transfer

  • APR: 17.9% (variable depending on individual circumstances)
  • Balance transfer fees: 2.4% of the balance transferred amount or £5, whichever is greater (No balance transfer fees for the first 3 months of card account opening)
  • Cash withdrawal fees: 27.9%
  • Cash fees: 2.5% of the amount withdrawn or £3, whichever is greater
  • Late payment fees: £12
  • Over limit fees: £0
  • Minimum credit limit: £500

Eligibility for Nationwide credit card balance transfer

Image courtesy: hjs
Image courtesy: hjs

In order to apply for Nationwide credit card, make sure that you fulfill the following criteria:

  • You must have an annual income or pension of atleast £5,000 (before tax) per year
  • You should be a resident of the United Kingdom
  • You should be above 18 years old

Pros

  • 0% balance transfer deal with no handling fees
  • Mobile banking and internet banking features allow you to manage and check your money on the move

Cons

  • Both the 0% balance transfer and 0% purchases deals are short as compared to other deals in the market

Verdict

If you want to transfer your balance from another credit card, then Nationwide credit card balance transfer is great for you. Plus, it does not charge any interest for one year, which means it is totally free of cost for the first year of your credit card account opening. 

However, the card does not offer much rewards on shopping or eating out. So, if you want discounts on shopping, travelling, or dining out, then choose some other credit card. But, for balance transfers this is the best credit card for UK citizens.

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