(PRWEB UK) 25 July 2013 -- As the UK swelters in the sun it looks like the Balance Transfer market is also in line to heat up! Nationwide Building Society has today launched two new improved credit card products, these being the Nationwide and Nationwide Select cards. Both cards have seen an increase in the 0% Balance Transfer duration from 20 months to 26 months with a transfer fee of 2.4% on both cards.
This move will certainly raise a few eyebrows across the market and it will be interesting to see which of the issuers is going to react to this move by Nationwide. Other issuers offer similar Balance Transfer periods but the Nationwide handling fee of 2.4% is currently the lowest for 26 or 27 month cards. The Nationwide Credit Card also offers 0% on Purchases for three months whilst the Select card which can also be used as a Travel credit card offers an unlimited commission-free on purchases abroad as well as 0% on purchases for 12 months.
A spokeswoman for the leading comparison site compareandsave.com commented:
“It will be interesting to see the response from other issuers to this move by Nationwide as they look to become a force again in the highly competitive Balance Transfer market. Over the last month or so we have the likes of Barclaycard, Tesco and NatWest/RBS all revising their offers and this change by Nationwide will probably initiate further changes.”
“In this difficult economy, these moves can only be pleasing to the consumers as they continue to see increasing balance transfers lengths and reduction fees. But it is also important that the people take time to find the most appropriate card for their circumstances and a useful way of doing this is using comparison tables. As for the banks, the battle for supremacy in the Balance Transfer market will probably carry on for the rest of the long hot summer.”
compareandsave.com is one of the UK’s leading personal finance comparison websites. Based in Colchester, Essex, compareandsave.com has been helping UK consumers get a better deal on credit cards, savings accounts, personal loans and more for over five years.
Mark Scott, Freedom Marketing, 02071951970, [email protected]