Use your credit card abroad for free

October 3, 2006

Good news just announced for all Post Office® Credit Card holders – from Oct 2nd 2006, anyone using their card abroad will no longer be charged commission!

In addition, the interest-free period for balance transfers has been increased from six months to eight. Also customers will not be charged interest on new purchases for three months. After that, Classic card customers will have a standard rate of 14.9%APR and those with a Platinum card will be 13.9% APR. Both of these are still considered to be one of the best rates on offer.

The Head of Post Office® Credit Card, Gary Fitton has 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."

Customers also have the advantage of free insurance for any goods bought abroad thus covering them against accidental damage, loss and theft for 90 days from date of purchase.

Even after the 0% interest period is over Post Office® Credit Card holders can take advantage and transfer large purchases between £500 and £2000 onto a ggreat low rate of 6.8%APR repayable over 12months. This is a great opportunity to pay for those larger purchases when required.

The Post Office® , like many existing cards will introduce a credit card balance transfer fee of 2.5%.