Post Office Travel Credit Card: Post Office Platinum Credit Card review

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Post Office Limited is the Bank of Ireland, UK. It is a credit broker institution and should not be mistaken as a lender. The bank offers three different types of credit cards, namely Post Office Money Matched Credit Card, Post Office Money Balance Transfer Credit Card, and Post Office Platinum Credit Card. Each of these credit cards caters to a specific audience. Some of these credit cards help you to transfer your credit card balance and some help you to make purchases. 

Moreover, Post Office credit cards are popular with people, who plan to use their credit card overseas. This is because these cards do not charge fees on foreign purchases. Managing your Post Office credit card is really easy with its mobile application. You can manage your Post Office credit card on the go, no matter where you are, with its mobile app. Credit cards of Post Office are wholly regulated by the regulator of the city, which is the Financial Conduct Authority (FCA).

Post Office Travel Credit Card overview

The Post Office Platinum Credit Card is for people who want to spend abroad. This is because the card offers free foreign transactions as well as commission free travel money to cardholders. 

Features and benefits of Post Office Travel Credit Card

Image courtesy: Wikimedia
Image courtesy: Wikimedia

Let us look at the various features and benefits of the Post Office Platinum Credit Card.

  • One of the major benefits of this card is that it comes with a 0% commission, when used abroad. When you use this card abroad, your card transaction will be exchanged sterling as per the Mastercard conversion rates. There will be no additional fees, which is generally levied up to 3 per cent on other credit cards that are used abroad
  • No fees on overseas purchases
  • 0% interest on balance transfers for 22 months
  • No balance transfer fees

Fees of Post Office Travel Credit Card

  • APR (Annual Percentage Rate): 17.8% APR (variable depending on individual circumstances)
  • Maximum credit limit: £1000 (Subject to status)
  • Cash advances: 27.9%
  • Annual fees: £0
  • Over credit limit fees: £12
  • Late payment fees: £12
  • Unpaid or returned check or direct debit: £12

Eligibility for Post Office Travel Credit Card

Image courtesy: www.wandervaleec.sg
Image courtesy: www.wandervaleec.sg

Applying for the Post Office Platinum Credit Card is quite easy. However, you must remember that you are not eligible to apply for this card, if you already have a credit card of Post Office. Moreover, you do not qualify for this card, if you have been refused for this card in the last 6 months. Apart from these, people who wish to apply for this credit card must fulfill the below mentioned eligibility criteria.

  • You must be atleast 18 years of age
  • You must be a resident of the United Kingdom

Pros

  • No fees on overseas purchases
  • No balance transfer fees
  • 0% interest for 22 months
  • 0% foreign commission

Cons

  • Balance transfers must be made within 3 months of opening your credit card account

Verdict

The Post Office Travel Credit Card is great for people who dream to make purchases abroad, as this card does not charge any fees on overseas purchases. Moreover, it is also a great card for people, who want to transfer their balance from an existing credit card, since this credit card comes with a 0% interest for 22 months. 

Plus, the card does not charge any balance transfer fees. However, you must remember to make balance transfers within 3 months of opening your credit card account. You can also purchase travel money at the Post Office free of cost with this credit card.

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