Post Office Money Matched Credit Card

I have just received my Post Office Money Matched Credit Card to start spending on it instead of my usual cards, in order to commence stoozing once again, after a long break.

The descriptions on both the MSE Stoozing Guide and indeed on the Post Office card website both clearly state that it is 0% on ALL purchases for 27 months. This is not the case.

After several discussions on the phone with the good people at The Bank of Ireland (UK) who administer the card, I now have the following clarification:-

There is 0% for 27 months on all spending done during the first 3 months from the date of opening the card account. However, spending transactions made AFTER that first 3 month period only get 0% for 16 months from the date of opening the card account.

This is not made at all clear on the Post Office card website.

Has anyone else discovered this?

I was told this by two customer service representatives. I then asked to speak to a manager who also confirmed these facts.

Have I been misled by the advertising blurb?? :mad:

Ackers

Replies

  • I have one of these cards, and my understanding is if you make a purchase in the first 3 months then you get the 0% interest on purchases for 27 months. My letter stated 16 months but when I phoned them they said if you make a purchase in the first 3 months I should receive another letter stating the 27 months instead of the 16 months.

    As long as I make the minimum payment 2.5% of the balance each month I wont pay interest on any purchases for 27 months.
  • vb3dvb3d Forumite
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    ackers wrote: »
    I have just received my Post Office Money Matched Credit Card to start spending on it instead of my usual cards, in order to commence stoozing once again, after a long break.

    The descriptions on both the MSE Stoozing Guide and indeed on the Post Office card website both clearly state that it is 0% on ALL purchases for 27 months. This is not the case.

    After several discussions on the phone with the good people at The Bank of Ireland (UK) who administer the card, I now have the following clarification:-

    There is 0% for 27 months on all spending done during the first 3 months from the date of opening the card account. However, spending transactions made AFTER that first 3 month period only get 0% for 16 months from the date of opening the card account.

    This is not made at all clear on the Post Office card website.

    Has anyone else discovered this?

    I was told this by two customer service representatives. I then asked to speak to a manager who also confirmed these facts.

    Have I been misled by the advertising blurb?? :mad:

    Ackers

    I have been asking about a clarification for this on another thread HERE and most of us thought that the 27months is there for all purchases even after the first 3 months AS LONG AS you make a purchase of any value in the first 3 months, but after reading your post it seems we are all wrong.
    :mad:
  • Strummer22Strummer22 Forumite
    283 Posts
    Sixth Anniversary 100 Posts Combo Breaker
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    ackers wrote: »
    After several discussions on the phone with the good people [hah at The Bank of Ireland (UK) who administer the card, I now have the following clarification:-

    There is 0% for 27 months on all spending done during the first 3 months from the date of opening the card account. However, spending transactions made AFTER that first 3 month period only get 0% for 16 months from the date of opening the card account...

    ...I was told this by two customer service representatives. I then asked to speak to a manager who also confirmed these facts.

    Hah. I think you're unlucky that the random answer generator they use gave the same answer three times in a row. That still doesn't mean it's right.

    I do notice that the product summary box here: http://www.postoffice.co.uk/dam/jcr:ed3bd48f-30d2-469b-a1f4-5bfd5ed77c0b/matched-credit-card-summary-box.pdf says that the introductory interest free period for purchases is 16 months. The summary box makes no mention of 27 months.

    However on the main product page it does indeed say "A transaction must be made within 3 months of account opening to qualify for 0% for the first 27 months otherwise a purchase period of 0% for the first 16 months will apply"

    BoI/Post Office do not have a good track record of knowing a*se from elbow. If the card is as described by vb3d, I think it will be the only one in existence with such stupid rules, and the PO can expect a lot of complaints from people whose accounts at 17 months old who are unexpectedly charged interest. They may do well to keep the T&Cs as I think any complaints would be upheld by the ombudsman - this is either terribly opaque advertising or (as I said above) the three people you spoke to earlier are all sitting on their elbows.
  • ConsumeristConsumerist Forumite
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    From the many and varied reports about Bank of Ireland (UK) in these forums, I think the best advice is to avoid BoI (UK) products at all costs. Other reports suggest expensive and complicated proof of ID requirements too.
    >:)Warning: In the kingdom of the blind, the one-eyed man is king.
  • SmodletSmodlet Forumite
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    ...it's not here yet. Not loving the sound of this. I had this exact conversation with the young lady to whom I addressed my application and she promised me it is 27 months provided you make a purchase (value not specified) in the first three months and pay off at least the minimum every month. One shall see.

    Just want to thank MSE for the eligibility calculators, what a wonderful thing they are.
  • UKmitchUKmitch Forumite
    17 Posts
    I also applied for one two days ago, waiting for the card to arrive before making a purchase to get the 0% 27 month period. I will scrutinise the T&Cs when the second letter arrives, hopefully it's within the cooling off period.
  • KxMxKxMx Forumite
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    From the many and varied reports about Bank of Ireland (UK) in these forums, I think the best advice is to avoid BoI (UK) products at all costs. Other reports suggest expensive and complicated proof of ID requirements too.

    I can verify this from recent personal experience. After a long sorry saga they even mucked up the settlement agreed with the ombudsman, internal target 10 days had to wait 14.

    Guessing their ombudsman workload is heavy :rotfl:

    I like to call them Bank of Idiots

    :p
  • I applied for and received one of these cards last week. I was a bit nervous as the eligibility calculator said 40% of people are successful. I went into the Post Office and the representative I spoke to said as long as I make a purchase within the first 3 months the interest free period on the card will be extended to 27 months.

    I went prepared with letters, passport etc as proof of ID but I only needed my drivers licence and bank card. I was approved straight away for a £4300 limit.

    I'm putting a new kitchen in next week so on top of cabinets and labour 2 years interest free from Ikea this is paying for additional labour and appliances. Meanwhile the money is all in my Santander account earning 3% interest for the next 27 months. Ikea is repaid at £103 per month, and I found it very easy to set up a direct debit for the minimum repayment on the Post Office website as it was already set up with my bank account number, so I just needed to check a box and click OK a couple of times.
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