Was sent a pre-approval letter, ignored it. Purchased a new vehicle from Ford for $71,330 and was given an interest rate of 5.34% with Ford Credit, which prompted me to act on the Nationwide pre-approval. Went online, filled out the usual information and at the end was told "we need more time to make a decision" which usually is a polite way of saying no. I applied with Chase Bank, I figured since I have excellent standing with them, checking, savings, credit card, mortgage, etc that they would give me the ok, they said no. My credit score is in the low 800's, the issue was the loan amount. Nationwide sends an email, stating they need W2 and last 2 pay stubs, I procrastinate a few days figuring that it's a lost cause. Finally submit those and was notified that I was approved at 2.5% within 1 hour! Finished signing documents online, created an online account and setup autopay from my Chase checking. So in my limited experience, Nationwide was easy, timely and cut my interest rate in half over Ford Credit. I will update this review if something changes, but I know that I certainly had a better experience than others have had and I feel obligated to post something positive for a change.
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After my first payment paid automatically from my CU bill pay, I received a letter stating that I had used the wrong address and which listed the address I should use. I updated my bill pay information accordingly. Two weeks after my second payment due date, I received a collection letter stating that they had sent me a letter about a past due payment (which I never received) and to contact the collection department immediately, which I did. I explained that I have it set up to be paid 3 days before my due date and about the letter received regarding the address change. The collections department told me to contact customer service, which I did.
They have the rudest, most uncooperative "customer service -- ha!" representatives I have EVER dealt with. Because of my first couple conversations with them which were a lesson in futility and during which I got a "bit" upset, I'm sure I'm now on their b**** list and they are immediately on the defensive. They were insisting that I pay another payment plus $20 late fee for a payment which had been sent to an incorrect address that Nationwide told me to use!!! I told them I could not send them another payment when the other one had already been deducted from my account. They wouldn't listen. My CU sent them proof of payment showing it was paid 3 DAYS BEFORE MY PAYMENT DUE DATE. Wasted effort. I checked online. They still show my payment 3 weeks late and charged me $20!!! Of course the CU won't refund the late fee because they used the address which Nationwide told me to use.
It's a real shame that I cannot talk to someone at Nationwide Bank who is knowledgeable and will take responsibility for this mess!!!