Nationwide launches market-leading 0% credit card

Banking and Borrowing

Updated on 17 January 2012 | 0 Comments

Nationwide has launched a credit card with an 18-month interest-free period for purchases. But it's only available to current account customers.

If you’re thinking of getting a 0% purchases credit card, you should take a close look at the Nationwide Select Card.

If you took out the card tomorrow and then bought an expensive new TV, you wouldn’t have to pay any interest on the resulting debt for 18 months. No other non-fee credit card currently offers such a long 0% period for purchases.

What’s more, the card also comes with an attractive balance transfer offer. The 0% balance transfer period lasts for 17 months while the balance transfer fee is 2.95%. There are better balance transfer cards on the market, but Nationwide’s offer is still pretty decent.

You’ll also get 0.5% cashback on purchases and unlimited commission-free purchases abroad. So overall, this is a cracking credit card.

The only drawback is that you have to be a Nationwide FlexAccount customer. In fact, your Nationwide account has to be your main current account. That said, the FlexAccount is a pretty good current account so you wouldn’t lose out massively if you switched current account to take advantage of this credit card offer.

And if you’re already a Flexaccount customer, signing up for Nationwide’s new credit card will be pretty simple – as long you have a decent credit rating.

If you're not a Nationwide customer, Halifax is currently offering 0% on balance transfers (with a 3% fee) and purchases for 15 months with its All in One MasterCard. And Barclaycard has 14 months interest free on both via its Platinum credit card. The balance transfer fee on this card is 2.9%.

The card will be available to customers from January 17th.

More:  Why there's never been a better time to get a credit card | Halifax Clarity credit card offering up to £100 cashback

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