Nationwide Select: the best credit card ever?

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%VIRTUAL-SkimlinksPromo%The best all-round card just got even better thanks to a reduced balance transfer fee. But it's only for a limited time!

Nationwide has slashed the balance transfer fee on its Select credit card.
Normally the card, which comes with 26 months of 0% interest on balance transfers, attracts a 2.4% charge. But until 31st March 2014 Nationwide will offer the same deal for just a 0.75% fee.

That means transferring £2,000 worth of credit card debt onto the Select card will now cost just £15 instead of £48.

But that's not all you can get...

Best card ever

The Select card also offers a competitive 15 months interest free on purchases, commission free purchases abroad and 0.5% cashback on all sterling purchases – making it pretty much the best all-round credit card out there.

But with its limited time offer the Select card is now also easily the best low-fee balance transfer credit card around.

The only other card which matches the 0.75% rock bottom fee is the Fluid Low Fee Card Visa, but its 0% balance transfer period lasts just 12 months. Nationwide's Select card will offer 14 months more for the same price.

In fact Nationwide's reduced fee deal makes it the cheapest long-term balance transfer deal on the

How to get the Select card

The Select card is only available to Nationwide current account customers.

If you hold or choose to open either the FlexAccount, FlexDirect or the £10-a-month FlexPlus you will be eligible to apply for the card.

Out of the three the FlexDirect account is worth a look. That's because it offers 5% AER on in-credit balances up to £2,500 as well as a fee-free overdraft for 12 months.

If you don't fancy opening a current account in order to get the Select card you can still take advantage of the cheapest balance transfer offer going via the Nationwide Visa, which is open to anyone. This comes with 26 months 0% on balance transfers with the reduced 0.75% fee (available until 31st March 2014) and three months interest-free on purchases.

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Market-leading alternatives

The Nationwide Select card is the best all-round card going with competitive deals across all its features.

But there are other 0% balance transfer, 0% purchase, cashback and commission-free deals to consider.

Barclaycard for example is top for the longest-lasting 0% balance transfer deals. It's offering a whopping 31 months to freeze debt (with a 2.99% transfer fee) on its 31-Month Platinum Visa. It's the longest lasting deal ever, but this market tends to move all the time.

Meanwhile Santander and Tesco both offer the longest interest-free periods on spending. The Santander Credit Card for Purchases and the Tesco Clubcard Credit Card for Purchases both offer 18 months of 0% interest on purchases – three months more than the Select card. Read The best 0% purchase credit cards for more.

If you like the idea of earning cashback on your credit card spending the American Express Platinum Everyday Cashback Card is paying a top rate at the moment. You can earn 5% cashback on up to £2,000 worth of spending in your first three months with the card. Thereafter it will pay between 0.5% and 1.25% depending on how much you spend.

And for a card that can save you money on holiday the Post Office Platinum offers commission-free purchases abroad, but it also won't charge a cash-advance fee if you use the card to buy foreign currency at Post Office branches. For more read The best credit cards to use on your travels.

As you can tell the Nationwide Select credit card is pretty competitive on all fronts and isn't far behind the individual top runners in each category. So if you only want to carry one card – the Select is worth a look!

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How to dispute your credit record
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Nationwide Select: the best credit card ever?

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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