Credit Card Overview
Fact: there are more credit cards than people in Britain and the country's debt problems are amongst the worst in the world.
When choosing a card provider, its policies on responsible lending and debt advice provision are of key importance. The green and ethical concerns you bring to who you bank with, concerns about equal opportunities or the environment, are just as applicable to who you get your credit card from.
This section also looks at the green or ethical worth, as well as the practicalities of charity affinity cards.
Does your credit card provider treat its customers responsibly?
What are charity affinity cards and how do they work?
Does your credit card provider treat its customers responsibly?
Responsible lending
According to the British Banker's Association (BBA), responsible lending means 'providing credit, based on background checks and professional judgement, to people who can accommodate repayments without getting into financial difficulty'. As the sheer number of people in debt today shows, these principles are not always well applied by credit lending institutions. In 2008 our credit card debt hit £54.4bn and continues to rise.
Transparency is key - credit card customers should be presented with the terms and conditions attached to their card up front and in plain English. It is important to check whether your provider has a responsible lending policy in place, and how it is implemented if it does exist.
Debt management
Credit card debt is all too common in the UK. Some financial institutions offer basic in-house debt advice services, the scope of which can vary greatly. Often providers will refer customers to free advice services including the Consumer Credit Counselling Service, the Citizens Advice Bureau and others.
Use our search tool to find details of your provider's debt management services. Information on this subject can be found under 'Responsibility toward Customers'. Alternatively contact your provider directly for further information.
What are charity affinity cards and how do they work?
Affinity card providers make a small donation on behalf of the card holder to the charity it is associated with.
Such charity donations average around 25p per £100 spent. So, in order to donate £100 to your charity of choice you'd have to spend £40,000 with the card. Most providers also make a one-off donation of between £5 and £25 on each new card account.
In their analysis of charity affinity cards moneysavingexpert.com suggest that a more effective way to donate money is to use cash back cards. Cash back cards operate in much the same way as affinity cards except that instead of a charity, additional money goes to the card holder and this money is usually considerably more than a standard charity card donation. The cash back card holder can then donate the money they have earned to the charity of their choice and if eligible, Gift Aid it, so rather than £1 the charity will receive £1.28. Donations on affinity cards are not eligible for Gift Aid.
Your next steps
See our guide Next Steps - Credit Cards for more suggestions on how to find out about your credit card provider's green and ethical policies, how to contact them and how to find the right credit card for you.
Credit Card Search
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Credit Card Provider
Nationwide Building Society
Green/Ethical Products
- Basic Account (Cash Card Account)
- Low-cost savings account
- Green Additional Borrowing
- Affordable housing finance
Ethical Lending or Insurance
No evidence of an ethical lending policy found for Nationwide Building Society.
However, as a building society the majority of its lending is to individuals in the form of mortgages. Its commercial lending is concentrated in the following three sectors:
- UK registered social landlords (Housing Associations)
- Commercial and residential property investors
- Private Finance Initiatives (PFI) funding schools, hospitals and social housing projects
Human Rights
No policy was found to indicate that Nationwide avoids lending to or insuring companies that directly contribute to human rights violations.
However, Nationwide states that its policies and practices are aligned with the United Nations Universal Declaration of Human Rights and the United Kingdom’s Human Rights Act. It does have a policy statement on human rights for its employees and a code of practice for its suppliers, which includes human rights standards relating to forced or involuntary labour, child labour, working hours, wages and benefits, freedom of association, harassment and bullying.
Financial Exclusion
Nationwide offers the following products aimed at financially excluded customers:
- Basic Account (Cash Card Account)
- Affordable housing finance: Nationwide supports over 350 housing associations in England, Wales, Scotland and Northern Ireland and has financed the provision or improvement of over 330,000 homes for individuals and families in need of affordable housing.
- Nationwide offers a specialist team to offer one-to-one dedicated support to customers who find it hard to deal with matters on their own
No evidence that the company provides direct financial support to or engages in partnerships with Credit Unions and CDFIs (Community Development Finance Institutions.)
Most branch facilities include:
- employees trained in disability equality
- level access or wheelchair ramps or assistance buttons at entrance
- power assisted entrance doors
- hearing aid induction loops
- Sign language interpreters, lipspeakers, speech-to-text reporters, deafblind interpreters and notetakers by appointment.
According to its website, all of Nationwide’s marketing literature is in audio, large print or Braille on request within 10 working days. The bank makes available banknote gauges and credit card and cheque templates as well as magnifiers and easy grip pens.
InvestDirect, its postal account, offers a service that can be operated from home. Regarding chip and PIN cards, if a disability prevents a customer from using a PIN, customers can ask for a Chip and Signature card to allow them to use debit or credit cards without the use of a PIN.
In 2013, Nationwide was piloting Talking ATM’s to assist blind and visually impaired users.
Nationwide represents the financial sector on the Dementia Friendly Communities Champion Group, which is developing a charter to allow companies and bodies within the industry to state their commitment to working towards dementia friendly financial services.?
No evidence found of Nationwide’s involvement in any microfinance projects.
According to its website, Nationwide is one of the UK’s largest lenders to social housing providers. UK registered social landlords provide affordable housing supported by governmental grants.
Environment
Nationwide’s environmental policy covers the key areas of climate change, energy efficiency, water use and waste management.
Nationwide shows commitment to improving its environmental performance. Nationwide has set the following three targets:
- Ensure its 2020/21 carbon emissions remain at or below its 2011 baseline levels
- Reduce the water consumption of operations by 10% by 2015 from the 2011 baseline
- Achieve zero waste to landfill by 2015
Carbon Neutral
No pledge to make business operations carbon neutral was found.
However, Nationwide has set a target to ensure that its 2020/21 carbon emissions remain at or below their 2011 baseline levels. The company’s carbon footprint for 2012/2013 was 56,304 tonnes of carbon dioxide, which was 9.6% the baseline year.
Equal Opportunities
The equal opportunities section of the company's website takes into consideration issues of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race (which includes colour, nationality and ethnic or national origins), religion or belief, sex, sexual orientation.
The company’s diversity policy can be found here.
Women on the Board
2/11 women hold top level board positions (18.1%)
Voluntary Standards & Initiatives
Nationwide Building Society is a member of or signatory to the following relevant charter or initiatives:
- Business in the Community (a business-led charity focused on promoting responsible business practice)
- Social Mobility Business Compact
Nationwide abides by the 'The Lending Code', a voluntary code which sets the standard for good banking practice.
Nationwide states that its policies and practices are aligned with the United Nations Universal Declaration of Human Rights and the United Kingdom’s Human Rights Act.
Nationwide’s Citizenship Report adheres to the Global Reporting Initiative.
Charitable Giving
Nationwide gives 1% of pre-tax profit to community and charitable causes to support the Citizenship strategy ‘Living on your side’. The latest five-year strategy was launched in April 2012 focussing on three key areas of ‘Your Home, Your Money and Your Community’. The aim of each of these is:
- Your Home – help 750,000 people into a home of their own.
- Your Money – empower 1,000,000 people to start saving
- Your Community – invest and unlock £15,000,000 into local communities as directed by customers and employees
More information can be found here.
Nationwide Building Society
- Current Accounts
- Savings
- Investments
- Credit Cards
- Loans
- Mortgages
- Insurance (Home, Car, Landlord, Life, Critical Illness, Income, Travel, Mobile Phone)
Nationwide Building Society
Nationwide Building Society
Head Office
Nationwide House
Pipers Way
Swindon
SN38 1NW
