Post office credit card

paul2468

I have just recived a credit card from the post office....it says that i wont be charged any fees for items bought abroad.......i am going to Spain next week on holiday, would it be better fo me to say bring 100 euros with me and use the card when i am there....or would i be worse off with the exchange for items bought with the card.......I would be gratefull if anyone could please help with any advice.

dzug1

Assuming you are using it to pay for things then that's the best rate you will get - much better than any cash rate.

Using it to get cash from an ATM can be expensive though in terms of interest and probably fees.

Budner

you'll get MasterCard's rate of the day. I'd just bring the credit card and use to pay for purchases. I use PO credit card, best card I've had

paul2468

Thanks for the advice....will use the card.

simongregson

Make sure in Spain in particular that they charge your card in Euro. Many merchants offer to charge the card in £ but this gives you a much worse rate (and a cut for the merchant as well!) According to Mastercard's rules they have to offer you the option of paying in local currency (euro).

paul2468

If they dont ask about pounds do you think they will charge it in euros....or should i tell them to charge in pounds each time i use it ?

benf90

paul2468 wrote: »

If they dont ask about pounds do you think they will charge it in euros....or should i tell them to charge in pounds each time i use it ?

You've got it the wrong way around

When in Spain you should ask for it to be charged in euros every time. By charging in euros it will be Mastercard that does the conversion (the best rate).

Charging in pounds will mean the retailers bank will do the conversion which will result in a worse rate for you.

dzug1

Tell them to charge in €.
Some will charge in ££ automatically - they shouldn't but they do.