Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Post Office Money Travel Credit Card September 2020
Last updated:
Avoid fees when you're spending money in a foreign currency.
Finder rating: ★★★★★
Representative example: When you spend £1,200 at a purchase rate of 24.93% (variable) p.a., your representative rate is 24.9% APR (variable).
24.9%
Representative APR
0%
Foreign transaction charge
£0
Account fee
Up to 56 days
Interest-free each billing period
Details
| Issuer | Capital One |
|---|---|
| Network | Mastercard |
| Annual/monthly fees | £0 |
| Balance transfers | 24.93% |
| Balance transfer fee | 2.9% |
| Purchases | 24.93% |
| Purchases interest-free period | Up to 56 days |
| Money transfers | 24.93% |
| Cash advances | 24.93% |
| Min credit limit | £500 |
| Max credit limit | Subject to status: £6,000 |
Expert review
Review by
Chris Lilly
chris.lilly@finder.comChris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
Expert review
The Post Office is a go-to when it comes to commission-free holiday money, so it’s no surprise that the brand should issue a credit card to help people save on their non-sterling spending. Most debit/credit cards charge a fee of around 3% of the value of the transaction when you spend in another currency, so the savings from choosing a specialist travel credit card can soon rack up.
However, cash withdrawals abroad will be subject to a currency conversion charge of 3% (minimum £3) with this card, so if you’re heading overseas, you’ll probably want to arrange to have some local currency in cash too.
When you use the card abroad, don’t forget that if a merchant offers to bill you in sterling, you should decline – otherwise it’ll be their bank’s currency conversion fees that will apply and not yours.
But aside from the fee-free currency conversion, this card doesn’t offer a huge amount to write home about. When you’re back from your hols, you may wish to consider your other options.
Important: From the start of October, all Post Office Money credit card accounts will be transferred to the provider Jaja Finance. If you’re an existing Post Office Money card customer, you will automatically be sent a new card, and your current card will cease to work 30 days afterwards. Your card account terms, including your PIN and credit limit, will not change.
Pros and cons
Pros
- Avoid currency conversion charges when spending abroad.
- No annual fee.
Cons
How does this card compare with other similar cards on the market?
Post Office Money’s card
Other travel credit cards
Table: sorted by length of 0% balance transfer offer, promoted deals first
Repayment options
When it comes to repayments, you can make manual repayments online, over the phone () or set up a direct debit. A direct debit protects you from forgetting to make a repayment as well as from damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | Fixed amount | Fixed percentage | Full amount |
|---|---|---|---|
How to apply for the Post Office Money Travel Credit Card
You can apply at the Post Office Money site, and it takes about 10-15 minutes. Before you can apply, you’ll be prompted to use the “QuickCheck” eligibility checker. This will give you a clear picture as to whether it’s worth applying, without hurting your credit rating. If it’s good news and you opt to proceed, Post Office Money will run a full credit check, which has a small (and usually short-lived) impact on your credit score.
Following approval, it takes up to two weeks to receive your new credit card. You’ll get your PIN first, then your card a day or so later. When you’ve got your card, you can activate it and register for online banking (then you can start tracking the card in the app too).
The first time you use your new card, you’ll need to enter the PIN – from then on, you can go contactless to your heart’s content (unless your heart wants to spend more than £30, in which case, you’ll need that PIN again).
Finder credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our team evaluates credit cards to determine their value against similar products on the market.
We look at the how good the card is for its designated purpose – spending abroad, clearing debt, earning air miles, etc. – how costly it is to use day-to-day and whether it offers much in the way of extras. Learn more about our credit card rating methodology.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.