Nationwide 1% Cash Rebate

Anonymous · ‎06-04-2010

Has anybody with a Nationwide Visa noticed that for any month in which you do not use the card your previous month's 1% cash rebate is taken back?

In the billing cycle which ended in April I earned about $5.00 in cash rebates and then didn't use the card at all in the following billing period which ended on May 25th. On May 25th my card account was debited for the $5.00.

I wonder if you have to use the card every month in order to keep your previous month's cash rebate. Do any other cards also do this?

Anonymous · ‎06-05-2010

I don't think that's their policy at all. I would call and ask why your account was charged for that amount.

Since Nationwide credits your account with the cash back on every statement, I wonder if you paid your balance in full before the statement cut, leaving you with a negative (credit) balance on your account. If that's the case, Nationwide would mail you a check for the credit balance, and your account will be debited for that amount, making your account balance zero. Every bank has different policies, but if a credit card account balance is negative for a while, the issuer will eventually issue you a credit balance refund check.

Anonymous · ‎06-05-2010

@Anonymous wrote:
I don't think that's their policy at all. I would call and ask why your account was charged for that amount.

Since Nationwide credits your account with the cash back on every statement, I wonder if you paid your balance in full before the statement cut, leaving you with a negative (credit) balance on your account. If that's the case, Nationwide would mail you a check for the credit balance, and your account will be debited for that amount, making your account balance zero. Every bank has different policies, but if a credit card account balance is negative for a while, the issuer will eventually issue you a credit balance refund check.

You are correct in that I do pay my balance in full before the statement cuts.

In any event, I will ask Nationwide just so I understand the rules of the game.