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Mark Bower

Mark founded MoneyMaxim in 2008, with the aim of delivering an impartial and independent service. Mark is a regular money saving expert in the press and writes regular news and articles for the MoneyMaxim news pages sharing his views on banking, personal insurance and the utilities (gas, electricity, mobile and home phones, broadband and pay TV) market with customers.

Mark Bower is one of our Team of Experts

Nationwide Credit Card moves towards the top of the best buy table

The Nationwide Credit Card is launched to replace the Classic and Gold card - but whilst the balance transfer offer is good using it abroad could end up costly.

Compare the Nationwide Credit Card with other 0% Interest Free Credit Card Cards at MoneyMaxim

Nationwide Credit Card – the replacement for Nationwide earlier incarnations – the Nationwide Gold and Classic cards – leapt to the top of the balance transfer market with its 17 month interest free balance transfer offer – only to be overtaken within hours by Barclaycard who responded by extending their interest free balance transfer period to 18 months!

The card is being advertised with a 15.9% representative APR and, in a rather clever and unique twist allows cardholders to earn commision free overseas spending through usage of the card in the UK.

A 2.95% fee is charged on balance transfers.

Other Nationwide Credit Card benefits include a 6 month interest free period on purchases (which is very average, and if that is the purpose of a new card we suggest you look elsewhere – visit our interest free purchase credit card comparison pages for at least half a dozen better options).

However as well as suiting anyone looking for a long balance transfer period and who already holds a Barclaycard or MBNA it may also be attractive for big spenders looking for a credit card offering commission free use abroad. Last year Nationwide axed commission free use abroad on their Flexaccount debit card, saying too many only held a Nationwide account for holiday spending.

Now Nationwide are allowing customers to access commission free use overseas but only when they have used the card for purchases in this country (although there is an introductory offer of 0% commision free use abroad on purchases until the end of July – which rules out most families with school age children).

Then the standard offer – which enables customers to earn £1 of free overseas purchases one every £5 spent in the UK with statements showing the ‘credit' built up. Our concern is that this is rather fiddly and a far better option for most would be a ‘no strings' card such as the Post Office Credit Card which offers purchases free abroad. If you run out of your overseas credit with Nationwide purchases abroad will be charged at 2%.

Review the best 0% Interest Free Credit Cards at MoneyMaxim.