By: Harvey Jones | Updated: 21st November, 2018.
On Post Office's Secure Website
There's a lot to like with the Post Office Platinum Card. The 28 months of 0% APR that you get on purchases is a nice, long duration. Plus you get the option of 0% for 18 months on balance transfers (though you will have to cough up a 2.89% fee for that). This is also a great card for travelers, since you don't pay fees on purchases made overseas and can buy Post Office Travel Money with no fee.Read full review >
|Assumed credit limit||£1,200|
|Representative APR (variable)||18.9%|
|Purchase rate p.a. (variable)||18.9%|
I’m a big fan of 0% introductory-rate credit cards. I’m an even bigger fan of credit cards with no overseas charges. So you can imagine what I think of a card that gives you both.
It might seem an odd combination. A lengthy 0% intro rate on new purchases, plus a middling 0% balance transfer rate. So who thought of throwing in fee-free overseas purchases overseas on top? I don’t know, but I admire their originality. A very special delivery from the Post Office.
Post Office Platinum Card makes a splash with one of the lengthiest interest-free periods on new purchases around, but it also throws in a halfway decent balance transfer rate, and foreign travel benefits too.
I’ve been a personal financial journalist for 30 years, writing for national newspapers, magazines and websites. I reported on the technology boom in the 1990s, and the subsequent bust. I covered the financial crisis, and the tentative recovery. Decades of writing about the big banks has taught me to be sceptical, to examine every pledge and promise, and look closely at the small print of their product offerings. I’m on the side of the consumer, alert to rip-offs while also keen to highlight top deals. There are plenty out there, if you know where to look.
Post Office Platinum Card shines but could do with being buffed up in one or two places.
The offer is only a whisker behind the very best 0% new-purchases, introductory-rate offers, although you can find longer balance transfers than 18 months, if that’s what you want. Otherwise, this is a good all-round card with a twist of combining interest-free introductory rates with no overseas charges.
You need a nice clean credit score to get the most out of this card. Applicants with lesser credit will be given a slightly inferior APR, while others may be rejected altogether. As ever, a blemish-free credit history helps. You need to be at least 18 years old and be either employed, retired or a “homemaker” with an annual income of more than £8,000, excluding benefits. You must not have any outstanding County Court Judgments against your name.
Like a growing number of credit card issuers, the Post Office has a fast credit checker, so you can check your eligibility without affecting your credit score.
You can apply online, which should take just a few minutes with an instant decision. You will need your income and employment details, the sort code and account number of your bank or building society account, and your previous address (if you’ve lived at your current address for less than three years).
If your application is successful you can expect to receive your card within seven working days.
The headline offer of 0% interest on new purchases for 28 months is one of the best on the market. If you need to make a big purchase, or a series of purchases over the next few months, this could be a great way of funding the lot without racking up interest charges. Just be sure you can clear it all before the post-offer APR kicks in. One or two other cards offer similar deals, but thanks to the balance-transfer offer, this one will also help you consolidate any existing credit card debt you already have on a 0% rate. If you regularly travel overseas, the fee-free foreign purchases seal the deal.
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