Approval for any credit card will depend on your status. The representative APRs shown represent 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
This card is no longer available, but you can use our review to find alternatives.
The Post Office Money® Travel Credit Card has been discontinued and is no longer available. However, this information has been kept for historical purposes. You can use this page to compare similar cards from other issuers.
Finder rating: ★★★★★
Doing its job: 4/5
In a nutshell:
Foreign transaction charge
Up to 56 days
Interest-free each billing period
|Balance transfer fee||3%|
|Purchases interest-free period||Up to 56 days|
|Min credit limit||£500|
|Max credit limit||Subject to status: £6,000|
Chris 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.
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.
The Post Office Money® Travel Credit Card is issued on the Mastercard network so it's accepted at nearly 53 million merchants across more than 210 countries and territories.
Pros and cons
- 0% currency conversion can save you a lot if you travel regularly
- There's no annual fee
- APR is relatively low
- Apart from fee-free currency conversion, there's not much else on offer
- You'll still need to beware of foreign conversion fees on cash withdrawals
Other cards for overseas spending
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
You can make manual repayments through Post Office Money's app, by logging in to your online banking or over the phone . Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) 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
Sorry – Post Office Money is no longer accepting applications for this card. However you may wish to consider one of the alternatives listed above.
Frequently asked questions
What credit limit will I get with the Post Office Money® Travel Credit Card?
If Post Office Money is able to offer you this deal, the offer will specify a personalised credit limit based on Post Office Money's assessment of your situation. The minimum limit offered on the card is £500, while the maximum is £6,000. Once you've had the card for a while and shown Post Office Money that you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Post Office Money® Travel Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Post Office Money® Travel Credit Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250, and you'll incur a fee of £7.50.
The interest rate on this part of your balance will be 24.93% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
What is the minimum payment on the Post Office Money® Travel Credit Card?
Each month you must pay at least 2% of your balance at that point or £5.00 – whichever of the two figures is greater. So if you had, say, £225.00 outstanding, you'd pay £5.00, and if you had £1,000.00 outstanding, you'd pay £20.00.
Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money which can lead to persistent debt.