The Post Office has launched a unique combination of credit card and loan, which offers customers more flexibility by letting them pay for larger purchases at a lower rate.

While the ‘Two in One’ card can be used as a standard credit card, customers have the option of moving up to 2 purchases a year into a loan-like facility which offers a much lower rate of 6.8%. This facility can only be used for purchases of between £500 and £2,000, and if more than one purchase is transferred the combined total must be less than £2,000.

These discounted-rate purchases can then be repaid over a twelve month period.

The new card is the latest in a long line of products launched by the Post Office in the financial services area, and the PO say their aim is to develop into a leading player in the UK credit card market.

This entry was posted on Tuesday, October 4th, 2005 at 8:09 pm and is filed under New Cards. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.