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Is Nationwide's credit card the best ever?

The Nationwide credit card offers 26 months 0% interest on balance transfers for a low 0.75% transfer fee. We look at what makes this one of the best deals on the market.

Building society Nationwide launched a new credit card deal yesterday to critical acclaim.

Firstly, credit card holders with existing debt can transfer their balance to Nationwide and get 26 months to pay it off without paying interest.

Secondly, Nationwide is offering a reduced transfer fee of 0.75% - down from 2.4% - to those who make a balance transfer before 31 March this year.

Nerys Lewis, head of credit cards at, believes Nationwide is certainly a contender for the title of best all-round balance transfer deal.

‘Nationwide has made its card even better’

She says: "To put it into perspective, the only other card that offers a 0.75% fee on balance transfers is Fluid.

"But the interest-free period on the Fluid credit card is only 12 months."

"Nationwide’s previous offering of 26 months at 0% for a 2.4% transfer fee was already very competitive," she adds.

"And now Nationwide has made this even better."

Is Nationwide the best balance transfer card for you?

Whether this is the best balance transfer credit card for you will depend on your financial situation.

There are certainly cards that offer longer 0% periods out there.

For example, Barclaycard Platinum currently offers the longest interest-free deal in the UK, giving customers 31-months at 0% on balance transfers.

However, Barclaycard charges a higher 2.99% transfer fee.

And it’s this - the relatively low transfer fee coupled with a lengthy 0% interest deal - that makes the Nationwide card really stand out.

Balance transfer cards & credit ratings

Balance transfer cards, and particularly the best deals, are often aimed at customers with a good credit rating.

It’s worth knowing that if you apply and are not accepted this can negatively harm your credit score.

You should also keep up on payments else you risk losing the 0% deal.

And, if you haven’t cleared your balance by the time the 0% period ends and don’t switch to a new card, the interest will typically shoot up to 17.9% APR.

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Adam Jolley

Adam Jolley

Adam Jolley is a content producer at He joined us in May 2012 from the world of financial services PR.

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