Post Office Platinum Credit Card

Cccard · 20 January 2018 at 7:32PM

0% on purchases for 28 months
No fees on purchases overseas
Buy Travel Money easily – no cash fee when you pay with your card in a Post Office branch or online

Will overseas purchase count as 0% purchase for the first 28 months?
Will buying travel money from post office count as 0% purchase for the first 28 months?

Thanks

chattychappy · 20 January 2018 at 7:49PM

Cccard wrote: »

Will overseas purchase count as 0% purchase for the first 28 months?

Yes

Cccard wrote: »

Will buying travel money from post office count as 0% purchase for the first 28 months?

No. And their exchange rates aren't great anyway.

Consider applying for a Halifax Clarity card or Santander Zero card and using these to draw cash on arrival (or from Moneycorp ATMs before leaving if you can find one... they are at Gatwick airport, for example). They will also act as a backup should the Post Office card be declined for some reason.

Always choose to be billed in the foreign currency. Don't allow "conversion" or authorise a GBP amount.

Cccard · 20 January 2018 at 7:56PM

Thanks.

Only getting this card for the 0% and oversea. But thought I can buy the currency and sell it back (for a small loss) and using it like a money transfer for 0% for 28 months.

So what will it go under? Cash advance?

chattychappy · 20 January 2018 at 8:06PM

Cccard wrote: »

So what will it go under? Cash advance?

Yes. Their concession is that they don't charge the normal cash advance fee. But you'd still be paying interest from day 1.

Years ago there was a "wheeze" involving sterling travellers cheques. One of the CCs (M&S, I think) treated TCs as a purchase. Normally they were fine with this because the exchange rates were poor, but the loophole was to buy Sterling cheques and then pay them in. Bob's your uncle - you'd effectively have a fee-free BT deal.

No doubt if something like this is still running, some kind soul will enlighten us. But I suspect it's history now.

Cccard · 20 January 2018 at 8:19PM

If it charges interest from day 1, I don't see why anyone would use this CC to buy currency, might as well use DC or cash

chattychappy · 20 January 2018 at 8:33PM

Cccard wrote: »

If it charges interest from day 1, I don't see why anyone would use this CC to buy currency, might as well use DC or cash

Because:

Some people are not sensible like you and check beforehand. Hence threads where people got "unexpected" cash advance fees for their "purchase".
Some people aren't in control of their finances... want to have great time and can't afford to pay for it. So live now, pay (more) later.
Some people just don't care about paying unnecessary charges.
Some might pay the amount back a few days later so pay minimal interest.

eDicky · 21 January 2018 at 3:44AM

Here's a possible 'wheeze' for fee-free transfer of funds from a credit card, but I can't test it myself right now because I'm at the beach and left my credit card in the city (don't know its number).

Revolut is apparently still accepting top-up by credit card, and is no longer able to charge the 1% fee for doing this. Most or all(?) credit cards treat this as a purchase. It costs nothing to send the funds thus loaded from your Revolut account to your bank account (or elsewhere), or exchange them to foreign currency (up to £5k/month) at the interbank rate (weekdays).

Although this should be fairly simple it's best to make sure you don't make any mistakes, by taking time to learn how the Revolut app works, reading relevant FAQs and fully verifying your account identity. This is because their customer services have been overwhelmed by 200,000 new users jumping on their new cryptocurrency services and getting themselves in a mess, so any problems that need sorting out can take some time.

Post Office Platinum Credit Card

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