Post Office Credit Card - 0% comm abroad

bobshi

I didn't have a credit card, but am taking a trip to the USA and the hotel must must must see a credit card, no debit cards or cash deposit allowed - so I got the Post Office credit card.

One of the features is 0% commission on foreign purchases.

That is all well and good, but what sort of exchange rate should I expect? Will this typically match their listed rate for 'normal' exchanges?

guesswho2000

No it'll be better, they'll use the MasterCard exchange rate on the day of purchase

bobshi

Excellent, I found MasterCard's page that displays their rates.

Thanks for your help.

chattychappy

Yep, always an excellent rate - close to the interbank rate. The only let down with the PO card is the horrible online system.

I never tell PO when I travel, and have had only one block in many months of travel.

A good choice!

(But remember - always pay in the local currency. Sometimes a terminal might offer you an amount in GBP. Reject this and select USD or insist that merchant bills you in GBP. It's called DCC, dynamic currency conversion. Do a search for more info. If offered a GBP amount, it is very likely that you are getting an awful rate.)

whenIretire

I've also never bothered to tell PO when I'm travelling and as yet (touch wood!) have never had a problem. The mastercard exchange rate is pretty competitive and we tend to pay for pretty much everything on it when we're away.

You can also order your foreign currency through PO using your PO credit card and not have to pay any charges like you do with most credit and debit cards.

And if you use quidco you can get £3 cashback for your foreign currency purchases through PO.

So while the PO doesn't give the very best exchange rates for foreign currency, you can get £3 cashback, there are no charges for using your PO credit card to pay for it and it is regulated. And no, I don't work for them, I just find the PO credit card great for use abroad and for foreign currency purchase.