The best all-round credit card just got better

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%VIRTUAL-SkimlinksPromo%This Nationwide credit card is now even more appealing, thanks to an increase in its cashback rate.

Nationwide has increased the cashback payout on its Select credit card for a limited time.
We already rate the Select card as the best all-round card out there, although it isn't available to everyone.

What's changed?

Until 19th February, new Select card customers can earn 2% cashback on all purchases made in sterling for 90 days. The usual rate is 0.5%, which it will revert back to after that 90-day period ends.

What else does the Select card offer?

The Select card also offers a competitive 15 months with no interest to pay on purchases made during the introductory period and 26 months at 0% on balance transfers. There is a balance transfer fee of 2.4% of the debt you're transferring onto the card.

And you can enjoy commission-free purchases abroad.

But it's not open to everyone...

The Select card is only open to what eligible Nationwide current account customers.

Eligible customers are people who: either have a FlexDirect account or the £10-a-month FlexPlus account; or have a Flex account with a debit card and have paid in at least £750 a month for the past three months; or switch to the Flex account using the Current Account Switch Service or have done this in the past four months.

However, ultimately, you don't need to switch your main current account to Nationwide to get hold of a Select card, although you will to take advantage of the cashback offer.

See how the Nationwide accounts compare to other top current accounts

Other cards to consider

If you want to earn cashback from your credit card spending, making sure you pay your balance off in full each month, you could earn a better rate than from the Select card.

The American Express Platinum Everyday Cashback card, for example, pays 5% cashback if you spend £2,000 within the first three months. It then pays up to 1.25%, depending on how much you spend, although the minimum rate is 0.5%. Be aware that you need to spend £3,000 in a year to qualify for cashback.

Alternatively, if you want a card to use abroad, then the Post Office Platinum card offers commission-free purchases with no strings. There's also no cash advance fee if you use your card to buy foreign currency at Post Office branches.

For a 0% balance transfer, Barclaycard is leading the way. It offers the longest interest-free period on the market at 30 months via the Platinum 30-Month card, with a 2.89% balance transfer fee. Or the Platinum 25-Month card offers 25 months at 0% for just a 1.5% fee.

If you're after a 0% introductory period on purchases, both Santander and Tesco's Clubcard card offer 18 months. For more, read The best credit cards for the year ahead.

Note that all these cards are only available to people with good credit ratings.

But if you only want to carry one credit card, we reckon this combination of offers makes the Select card the standout option.

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How to dispute your credit record
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The best all-round credit card just got better

Don't wait until you need to apply for credit to view your credit record – do it now so you know where you stand and can deal with any disputes. When applying for credit, you give the lender permission to view your record, so it makes sense to view it yourself first.

You can access your record via any of the main credit agencies in the UK. By law, all the credit agencies are required to provide you with a one-off copy for just £2 so don't be hoodwinked into signing up to pay a monthly fee.

Your report shows what credit accounts you've had and whether you've made repayments on time and in full. According to Experian, items such as missed or late payments stay on your credit report for at least three years, while Court Judgments for non-payment of debts, Bankruptcies and Individual Voluntary Arrangements stick around for around six years.

Your credit report shows the current address at which you are registered to vote as well as details of other addresses you've been linked to in the last six years. Another section lists people you have a financial connection with, such as a joint mortgage. When you apply for credit, lenders are able to look at their credit history as their circumstances could affect your ability to repay what you owe.

Scrutinise your record to make sure there are no mistakes. Even a minor error such as an incorrect address or wrongly linked account could hinder your chances of being approved for credit so make sure all your details are correct and that all your borrowings are on record. If there is a discrepancy, contact the three main credit agencies to get it corrected.

A default notice is note that a lender puts on your credit file if you fall behind with your payments. It is a warning sign to future lenders about your reliability to repay credit and could mean that they will be less likely to lend to you or will increase the interest rate.

If the default notice is incorrect, perhaps because you have repaid the loan in full or did not take out the credit and suspect that you have fallen victim to fraud, you can apply to have a default notice removed. A default notices will only be removed if it is factually incorrect – not simply because you are embarrassed by it.

Start by writing to the agency asking it to either remove or change the entry that you think is wrong. It will investigate the matter and find out whether you have been the victim of ID theft or a bank's mistake.

Within 28 days from receipt of your letter the agency should tell you how the bank has responded. If the bank agrees to change the entry, they will authorise the agency to update their records. They should also send updates to any other credit reference agencies they use.

You can also contact your lender directly to query a mistake. If the lender agrees to the discrepancy, ask them to confirm this in writing on their letterhead and send a copy to the agency, asking them to update your file.

If you are unhappy with the response or would just like to explain a missed payment on your file you can send a Notice of Correction. This is a statement of up to 200 words that will be added to your file. Although lenders don't have to take this information into account, it at least gives you the chance to tell your side of the story.

Experian states that agencies will also help you escalate the dispute to a third party arbitrator if necessary, such as the Information Commissioner's Office.

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