Nationwide Credit Cards

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Nationwide

One of the main things we really like about Nationwide credit cards is that they are one of the few credit card issuing companies not to charge you foreign transaction fees.

When you use your credit card outside the UK, or if you make an internet purchase in any currency other than UK Sterling, most card issuers levy a fee of up to 2.75% on each transaction.

This little known extra charge can add significantly to the cost of your holiday, especially if you travel abroad frequently.

For example, if you take two holidays abroad each year, and spend £1000 on each one, you could end up paying £55 per year on these charges.

Taking out a Nationwide Credit or Debit Card will help you to avoid these charges.

If you need to withdraw cash on your credit card, other issuers may also charge you a handling fee of upto 2% of the amount (or £2 fixed fee for smaller amounts). The cash advance fee is just 1% or £1 with Nationwide.

Interest rates are also competitive, with the first 6 months' purchases or balance transfers being interest free. After this period, the standard rate is 14.9%.

If you are looking for a cash back reward card, the Nationwide Cash Builder gives you 0.5% back, although this does have a slightly higher interest rate.

Although neither of these cards are market leaders on interest rates or rewards, the amount you save on foreign purchases may well make Nationwide a very worthwhile option. If you don't like the hassle of having too many credit cards, you could consider moving your current account to Nationwide. Their debit cards also have no foreign transaction fees.

• For 1% cash back rewards, consider American Express Blue (also attractive rates to use abroad), or Capital One Circle Rebates