Post office credit card

Nigel_Robson

Once upon a time the Post Office Credit Card offered fee-free overseas transactions. I've just received a Credit Card Notice of Variation from the Post Office. My interpretation of a section headed Rate of Exchange is that fee-free may be no more from Nov.1, 2009. Anyone else seen this and come to a conclusion, one way or the other?

Starkicker

I've had the same notice of variation in with my latest statement. It's quite a subtle way of telling you. It says that a new term is included allowing them to charge the mastercard rate plus "any cross border handling fee, if charged, as shown, where applicable, on your statement"

The back of the statement still says that cross border handling fee is currently 0%.

It's not clear if the rate is going to change or whether they are just preparing the ground so that they can change to a non-zero rate quickly if they decide that they will start to charge.

exel1966

Nigel_Robson wrote: »

Once upon a time the Post Office Credit Card offered fee-free overseas transactions. I've just received a Credit Card Notice of Variation from the Post Office. My interpretation of a section headed Rate of Exchange is that fee-free may be no more from Nov.1, 2009. Anyone else seen this and come to a conclusion, one way or the other?

Your interpretation is wrong (for the time being perhaps) as the PO card still is fee-free for overseas transactions, however by inserting this clause into the agreement it permits them to change it if they so wish, but upon speaking to them I'm told there are no plans to do this in the foreseeable future.

You'll also find that all banks and card companies are at the moment tightening up agreements/clauses/T&C's and claryfying them due to pressure form the Governemnt and new rulings coming into force.