Post Office® cuts the cost of credit card spending abroad
People using a Post Office® Credit Card will get an even better deal from Monday (2nd October 2006).
When shoppers use the card abroad, they’ll no longer be charged commission.
As the UK’s leading travel money business, the Post Office® wants to give customers an even better deal on their travels.
What’s more, the interest-free period for balance transfers has been extended from six to eight months. And for three months customers will be charged no interest on new purchases.
After this period, Classic card customers will move on to a standard rate of 14.9% APR and Platinum card holders move on to 13.9% APR. So even when the interest rate ends, customers can benefit from one of the best rates on the market.
Gary Fitton, Head of Post Office® Credit Card, said: “Most credit cards charge 2.75% on every transaction made overseas. People become frustrated when they see it is costing them more to use their credit card abroad. We have listened to this and we have acted – now our customers have got one of the best deals going.”
For the first time, customers can now take advantage of a completely paperless application process when they apply online at www.postoffice.co.uk and could have their card within a week, ideal for those planning a trip abroad at short notice.
Customers also get free insurance for goods they buy abroad, covering them against accidental damage, loss and theft for 90 days from date of purchase.
Post Office® Credit Card customers can still make even more savings by using the unique low rate facility after their 0% interest period has ended. They can transfer large purchases of between GBP500 and GBP2,000 onto a lower rate of 6.8% APR repayable over 12 months, offering them a great value way to pay for larger buys.
In line with other cards on the market, the Post Office® will introduce a balance transfer fee of 2.5% for its credit card.
The Post Office® is the UK’s leading provider of foreign currency offering 0% commission on more than 78 currencies as well as Travellers Cheques. Earlier this year it launched a prepaid Travel Money Card, offering shoppers a secure and convenient way to spend abroad.
To apply for a Post Office® Credit Card customers can pick up an application form in-branch, visit www.postoffice.co.uk and apply online, or call 0800 169 2000.
ENDS
For more information please contact:
Liz Willder / Lisa Folwell
020 7294 3677 / 020 7294 3650
[email protected] / [email protected]
Hayley Fowell Royal Mail Press Office
148 Old Street
LondonEC1V 9HQ
[email protected]
