Post Office credit cards may not be the first thing that comes to mind when people plan out their finances. Not looking into what the Post Office has to offer could result in some missed opportunities however, as they offer various financial products that could rival those offered by banks, which includes ISAs and Mortgages.
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A Post Office credit card could be particularly beneficial for people looking to transfer their balances, as applicants may be eligible for zero percent balance transfers for up to 18 months.
Their credit card could also provide a level of financial security as it is globally accepted in over 70 million MasterCard locations.
Holders of this card will also receive 24/7 customer support online, through an app and over the phone.
Due to people’s differing needs, the Post Office has two versions available.
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Classic Credit Card
Their classic credit card offers the following features:
• 19.9 to 34.9 percent (variable) range of APR which Is dependent on individual circumstances
• A £200 – £8,000 credit limit
• An applicant may be eligible for zero percent on purchases for up to 12 months
• An Applicant may be eligible for zero percent on balance transfers for up to 18 months, although there is a 2.9 percent transfer fee
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For those who (usually) travel a lot or only use credit cards on holidays, there is also a travel card available.
Travel Credit Card
The travel credit card offers similar feature with a few noticeable differences/perks in other areas:
• 19.9 to 24.9 percent (variable) range of APR which is dependent on individual circumstances
• A £500-£6,000 credit limit
• Globally accepted in over 70 million MasterCard locations, online and offline
• No foreign exchange fees when money is spent abroad
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For those interested in setting up an account, the Post Office provides an eligibility checker that can be used before applying.
This checker can let people see if they’re likely to be accepted for the card before taking action, which should protect a credit score.
The checker falls into three categories which requires the applicant to enter personal information including “about you”, “where you live” and “work and finances”.
It should be noted that the Post Office is actually listed as the credit broker on the account, while Capital One is the exclusive lender and issuer of all new Post Office credit cards.
Once a person has a Post Office credit card, they’ll be able use an online portal for performing many operational tasks.
This can include checking a balance, credit limit and finding recent transactions.
The Post Office can be called for additional help but interestingly, there are different numbers for different account numbers.
If a card number starts with 5545 or 5425, the holders should call 0345 607 6500.
If it starts with 5185, 0344 481 0902 should be called.
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