Press release -
Post Office increases balance transfer on its Credit Card
- Zero per cent on balance transfers for the first 18 months
- New balance transfer deal could save customers an estimated £476
- Credit card continues to offer great benefits at home and abroad
Post Office today announces a new issue of its credit card which allows customers to transfer their balance without paying any interest for the first 18 months. By taking advantage of the new balance transfer deal customers could save an estimated £476 (see table below). The credit card will be available from Monday 16 September 2013.
Credit Card |
Representative APR |
Balance Transfer |
Savings based on £2,000 Balance Transfer |
Halifax All in One |
17.9% |
0% (15 months) |
£400 |
Barclaycard Gold |
19.9% |
0% (18 months) |
£402 |
Natwest Platinum |
18.9% |
0% (27 months) |
£424 |
Santander 123 |
22.8% |
n/a |
£476 |
Post Office Credit |
17.8% |
0% (18 months) |
£476 |
The new balance transfer deal is the latest in a suite of benefits already on offer to Post Office Credit Card customers. In addition to zero per cent on balance transfers for the first 18 months, the Post Office is one of the few providers not to add commission onto any overseas purchases. It also offers zero per cent interest on all purchases for the first three months and has no annual fee.
John Willcock, Head of Credit Cards at Post Office, said: “We are dedicated to providing customers with flexibility and value when it comes to managing their money. Our new credit card offering zero per cent on balance transfers for the first 18 months does just this by saving people an estimated £476, giving people a bit of extra cash in their pockets at a time when many are feeling the pinch.
“This new offer also comes alongside a combination of other existing benefits that such as no fees on purchases overseas, making the credit card a must pack when travelling abroad. Post Office’s credit card is one of the few in the market not to charge commission on overseas purchases – meaning holidaymakers can enjoy their time abroad, safe in the knowledge they are not incurring unnecessary charges.”
The new card rates include:
Platinum Card APR 17.8%
Classic Card APR 22.9%
Cash APR 27.9%
Applications can be made online (www.postoffice.co.uk/creditcard), over the phone (0800 169 2000), or at one of over 11,500 Post Office branches across the UK. The Post Office Credit Card is a MasterCard provided by Bank of Ireland UK. Terms and conditions can be found at postoffice.co.uk.
Contact - Carmel McCarthy
Categories
About the Post Office
The Post Office (Post Office Limited) has an unrivalled national network of over 11,500 branches across the UK, more than all the high street banks combined, and sits at the heart of communities in Northern Ireland, Scotland, Wales and England. The Post Office has made a commitment to maintaining its network of branches at its current size and reach. It provides around 170 different products and services spanning financial services including savings, insurance, loans, mortgages and credit cards; Government services; telephony; foreign currency; travel insurance and mail services.
The Post Office serves over 17 million customers a week and a third of small businesses. Some 99.7% of the total population live within three miles of a post office and over 97% live with one mile of a post office. For many rural communities, the post office is the only retail outlet. Post Offices branches remain highly valued and trusted, and are the focal point of many communities. For more information, visit http://www.postoffice.co.uk/.
Please note the Press Office team can only deal with enquiries from the media. Unfortunately they do not have access to customer information so can not help with customer enquiries.
If you have an enquiry regarding any Post Office product or service please visit postoffice.co.uk or call 0845Local call rates apply. Call costs may vary depending on your service provider. Calls may be monitored or recorded for training and compliance purposes. 611 2970.
