Post Office Credit Card
The new Post Office credit card can be used like a credit card or a personal loan, depending on what you're using it to buy.
For normal use, the standard rate is 16.9% typical APR, but for larger purchases of £500-£2,000 you can choose to use the card like a pre-arranged loan, and repay your purchase over 12 months at a lower rate of just 6.6%. Up to 2 purchases at a time can be repaid at this rate, so long as the combined value isn't more than £2,000.
This card also features a decent balance transfer deal of 0% for 12 months, unlimited further 'anniversary' balance transfer deals, 0% on purchases for 3 months, no annual fee, free purchase protection and optional payment protection.
Post Office Card In Brief
| Standard Rate: | 16.9% typical APR (variable) |
| Balance Transfer Deal? | 0% APR for 12 months |
| Purchases Deal? | 0% APR for 3 months |
| Balance Transfer Fee: | 2.98% |
| Minimum Balance Transfer Fee: | £3 |
| Maximum Balance Transfer Fee: | No maximum charge |
| Introductory Cashback | |
| Standard Cashback | - |
| Rewards Program? | - |
| Annual Fee: | - |
| Interest Free Period: | Up to 56 days for Card Purchases and Cash Advances if you pay your statement balance, plus the minimum payment due on any Payment Plans, in full and on time every month |
| Minimum Repayment: | The greater of £5 or 2.5% of the outstanding balance |
| Minimum Credit Limit: | £500 |
| Maximum Credit Limit: | Subject to status |
| Notes: | No commission on overseas spending, plus repeating balance transfer offers |
