Post Office Credit Cards
The Post Office credit card offers a twist to your traditional flexible friend in that it has a lower interest rate for bigger purchases.
For purchases on your credit card costing between £500 and £2000, you have the option of moving the funds to the Post Office’s ‘payment plan’. At the time of writing, this offers a rate of 6.8% (very similar to what you would be offered when taking out a personal loan), compared to a typical APR of 15.9%. You can move two purchases a year in this way, costing up to a total of £2000.
In addition, the Post Office credit card is one of only a few credit cards on the market that charges no commission on purchases abroad. This means that while many banks charge you a sly handling fee of around 2.75% on top of your purchases, the Post Office credit card remains one of the few on the market to remain fee-free.
