Nationwide named best credit card provider

Nationwide has been voted the best credit card provider in a recent awards ceremony.

At the Card Awards, the building society was recognised for its transparency and positive order of payments.

The financial services provider asserts that it has been campaigning for a clearer, more consumer-friendly credit card market since 1999, when it introduced a summary box in its marketing literature for the first time.

As the only major credit card provider to clear the most expensive debts first – rather than clearing zero per cent balances so consumers continue to pay annual percentage rates on the funds they still owe – the society claims it is saving its customers £2.1 million a year by doing so.

Jeremy Wood, Nationwide’s director of consumer finance, said: “We understand how difficult it can be for consumers to make the right card choice. This is why it is important that the information is presented to customers clearly to help them choose the card that best suits them.”

The Office of Fair Trading recently called for greater transparency in the credit card sector, claiming that consumers should be made aware of the benefits of comparing different products.

© Adfero Ltd

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