Nationwide Building Society has made a significant announcement for its customers, unveiling what it describes as a "fair" new financial product that offers extended support for household budgets. The mutual has launched its longest-ever interest-free balance transfer credit card, extending the offer period to an impressive 30 months.
Extended Financial Flexibility for Members
This new offer, which became available from 21st January 2025 through online channels, telephone services, and in-branch applications, represents a six-month extension on the society's previous best balance transfer deal. The timing is particularly relevant as many households continue to face financial pressures from the ongoing cost-of-living situation.
Comprehensive Credit Card Benefits
The world's largest building society is providing this extended interest-free period on balance transfers alongside several existing benefits that members have come to appreciate. These include fee-free usage when travelling abroad, comprehensive Section 75 purchase protection, and notably, no charges for late payments on the account.
Alongside this flagship product, Nationwide continues to offer its combined purchase and balance transfer credit card deal, which provides 0% interest on both balance transfers and purchases for 15 months. For those specifically looking at balance transfers, the society is also offering 0% interest on balance transfers for 15 months with interest on purchases.
Fee Structure and Representative APR
The balance transfer fee for these offers remains consistent at 2.99% per transaction, with a minimum fee of £5 applying to each transfer. The representative APR for the new 30-month offer stands at 24.9% variable, providing transparency about the longer-term costs once the introductory period concludes.
Management Perspective on Customer Support
James Broome, Head of Product at Nationwide Building Society, commented on the strategic thinking behind this extended offer: "We know that many people are looking for ways to manage their money more effectively, especially as the cost of living continues to impact household finances. This new credit card offer gives people additional flexibility and reinforces our commitment to providing fair, competitive products that put customers first."
The introductory offer specifically allows customers to transfer existing balances from other credit cards and pay off that debt without accruing interest for the full 30-month period. Additionally, it includes 0% interest on purchases for the first three months, providing comprehensive support for those looking to consolidate and manage their credit more effectively.
As a mutual organisation owned by its members rather than shareholders, Nationwide's approach reflects its distinctive position in the financial services sector, with this extended offer representing one of the most competitive balance transfer periods currently available in the UK market.
