About Post Office Platinum credit card...
- Commission free use abroad
- 0% on balance transfers for 10 months
- 2-in-1 credit card and small loan
Going on holiday any time soon? Then hit 'apply now' now!
One of the most fundamental holiday checklist items - second only to your passport - is your credit card.
Credit cards offer real security when travelling abroad. However, this security is often levied with a price to pay if you ever actually need to pay with plastic.
The Post Office Platinum credit card removes the holiday comedown affliction of returning home to a credit card statement full of extra charges and fees by offering 0% commission on overseas purchases - saving you the standard 2.75% fee on everything you buy.
With 0% on purchases for 3 months, you could book up that autumn break and spread the cost a little more gently over the next few months.
Apply for Post Office Platinum credit card 
| Interest Rates and Fees |
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Notes.. |
| Typical APR |
15.9% APR (variable) |
The typical APR is the rate most people are offered.
|
| Introductory Purchases |
0% for 3 months |
Payments are applied towards introductory rates first. |
| Balance Transfers |
0% for 10 months
another 0% for 5 months in 2008 & 2009 |
Must be made within 3 months of account opening.
Payments are applied towards introductory rates first. |
| Balance Transfer Fee |
2.75% |
A handling fee is charged on balance transfers. |
| Cash Withdrawal Rate |
19.16% p.a. (variable) |
This is the rate you are charged on balances resulting from using a cash machine, getting cash back at the supermarket or buying foreign money. |
| Cash Withdrawal Fee |
2%
(£2 minimum) |
When you use your credit card to get cash you will be charged a 'handling fee' for doing so. |
| Annual Fee |
£0 |
-
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| Foreign Transaction Fee |
0% |
There is no fee charged on transactions made abroad. |
| Rewards |
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Notes.. |
| 2 in 1 Loan Feature |
6.8% p.a. (variable) pre-arranged loan for up to 2 purchases costing from £500 to a total of £2000. |
When you are a cardholder you can phone the Post Office to arrange this low rate. |
| Cardholder Services & Extras |
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|
Notes.. |
| Online Account Management |
Yes |
You can log in to the Post Office website and manage your Post Office Platinum credit card account online. |
| Purchase Protection |
Yes |
Almost everything you buy with the Post Office Platinum credit card will be insured against accidental damage and theft for up to 90 days from purchase. |
| Other Extras |
Up to 3 additional cardholders for free, 365 day customer service. |
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| Optional Extras |
Payment protection |
These are extras that you can choose, but you will have to pay for them. |
| Payments & Payment Details |
| |
|
Notes.. |
| Credit Limit |
£500 minimum |
Credit limit may vary from person to person and is subject to status. |
| Interest Free Period |
Up to 56 days |
On purchases if you pay your balance in full every month on the due date. This is the amount of time you have to clear your balance in full each month before you are charged any interest. There is no interest free period on cash withdrawals or balance transfers not in the introductory period. |
| Minimum Monthly Payment |
2.5%
(£5 minimum) |
The minimum monthly payment is the smallest amount you must pay each month (unless your credit card balance is zero). |
| Allocation of Payments |
Interest, fees, balance transfers, purchases, cash withdrawals |
When you make a payment to this card, payments will be applied in this order. |
| Default Charges |
£12 |
This is how much you will be charged for late payments, returned payments and if you go over your credit limit. |
| Copy of Statement Fee |
£5 |
This is the fee you will be charged for duplicate statements. |
| Card Details |
| |
|
Notes.. |
| Online Application |
Yes |
- |
| Card Type |
Platinum |
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|
| Payment Company |
MasterCard |
This is the company who provides the payment technology and infrastructure to allow you to use this credit card. retailers and ATM machines displaying the 'MasterCard' logo will accept this card. |
| Card Issuer |
Bank of Ireland |
This is the bank behind your credit card. |
| Card Advertiser |
Post Office |
This is the company who advertises and promotes this credit card. |
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Post Office Platinum Credit Card
| Typical APR |
 15.9% APR |
 |
| Intro Purchases |
| 0% for 3 months |
|
| Balance Transfers |
 0% for 10 months
another 0% for 5 months in 2008 & 2009
2.75% transfer fee |
|
| Other Rates |
| 6.8% p.a. 'loan' rate |
|
| Interest Free Period |
| Up to 56 days |
|
| Annual Fee |
| £0 |
|
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| You should only apply if you are: |
| • Aged 18 or over |
| • UK resident |
| • Earn at least £20,000 a year |
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More about Post Office Platinum credit card...
Commission free use abroad
One of the biggest selling points of the Post Office credit card range is the commission free use abroad - meaning you won't be charged the standard 2.75% foreign transaction fee for paying by credit card abroad (or in a foreign currency over the net).
Cash withdrawals - in the UK or abroad - do carry a handling fee, although it's worth noting it is only 2% - which when made abroad, still equates to .75% less than most debit cards - which often do charge a foreign transaction fee.
Cash withdrawals are also well under the commonly scary upwards of 25% rate - on the Post Office Platinum credit card they are charged at just under 20%. This still isn't cheap though, so try and repay cash withdrawals as promptly as you can.
0% balance transfers, not once, not twice - but 3 times!
If you have any outstanding credit or store card debts the Post Office Platinum credit card will allow you to clear them up whilst offering zero-percent interest charges on the balance for the next 10 months.
A more recent offering is another 0% balance transfer deal in 2008 and 2009. Similar to Egg's once unique 'anniversary offer' - except because the second 0% deal starts in 2008 - you'll only have to wait 2 months between the end of the first 0% period and the start of the second one.
All 0% balance transfers are subject to a transfer handling fee of 2.75% - though this will be much less than the amount you could save in interest charges by moving current card debts across.
2 in 1 loan
A rather unique feature of the Post Office Platinum credit card is the '2 in 1' loan feature - which allows you to pre-arrange a loan - on your credit card account - for up to 2 purchases costing from £500 to a total of £2,000.
The benefit of this pre-arranged loan is that it offers an interest rate of just 6.8% p.a. on the purchase/s.
It's perfect for larger items you may need to spread the cost of, and whilst it's not as cheap as a 0% purchase deal - it can be used again and again and as long as you meet the minimum repayments there are no time limits.
Platinum benefits
The Post Office's Platinum credit card comes with purchase protection that will protect almost everything you buy against accidental damage and theft for up to 90 days from purchase.
This platinum version of the Post Office credit card also offers a standard interest rate 1% cheaper than the classic card.
You will need to earn at least £20,000 to qualify though - but don't worry if you don't, the Post Office Classic credit card has a needed income of just £8,000 and still comes with commission free use abroad, the 2-in-1 loan feature and the 0% balance transfer and purchase deals.
Final word
The Post Office Platinum credit card is the perfect prestige-travelling companion.
It's also an all round winner - offering so much that far exceeds simple joining incentives or introductory deals, this really is a credit card in it for the long haul.
Apply for Post Office Platinum credit card
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