The Nationwide Building Society has announced changes to the introductory pricing of its gold and classic credit card products.
New introductory interest rates will apply from Tuesday 6th march, with both cards now offering ten months no interest on balance transfers for a 2.5 per cent fee.
Previously, balance transfers were given 12 months interest free but were charged a handling fee of 4.9 per cent.
Stuart Bernau, executive director at Nationwide, remarked: “The change we have made to our credit card pricing follows significant shifts in the market over the past year.”
According to Mr Bernau, the new pricing “ensures we continue to offer our customers a competitive credit card product that meets their needs”.
Nationwide says a key feature of its credit cards is positive order of payments, which means the most expensive debt on the card is paid off first when a credit to the account is made.
The pricing scheme applies only to new customers or balance transfers and is subject to approval by the building society.
© Adfero Ltd