Nationwide credit card changes 'made to align with market'
Changes to Nationwide's Gold and Classic credit cards have been made to bring the lender in line with its peers in the market.
Nationwide credit card changes 'made to align with market'
Changes to Nationwide's Gold and Classic credit cards have been made to bring the lender in line with its peers in the market.
According to a statement from the building society, the amendments - which are scheduled to take effect from May 6th 2009 - will enable borrowers to continue benefiting from its "range of positive features".
Announced yesterday, the annual purchase rate (APR) for the Gold credit card will increase from 15.9% to 16.9%, while the APR for the Classic will go up from 17.9% to 19.9%.
Every balance transfer will be subject to a fee of 3% at a minimum of £5.
However, some of the plus points Nationwide noted when confirming these changes included up to 56 days of interest-free credit, free 12-month extended warranties for some electrical and gas products, and commission-free purchases when buying abroad.
In related news, last week saw the building society take home the prize at the Card Awards for being the most responsible credit card lender of 2009.
This marked the second time in a row Nationwide had been named the winner.
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