New PO Credit Card

WalterGabriel

Dear Martin,

Do you have some good advice on the pros and cons of the Post Office's new Credit Card?

Above the rubric 'Apply to-day' and '15.9% APR', the publicity for the card claims:

'0% charge on balance transfers for 10 months' - whilst simultaneously and paradoxically claiming (in very small print) that a '2.75% balance transfer fee applies'.
'0% charge on purchases for the first 3 months' (no caveat apparent)
'0% commission on purchases overseas' (no caveat apparent)
'0% again, for five months on new balance transfers on your anniversary in 2008 and 2009' (no caveat apparent)

Would you please translate the significance of this sales pitch and verify and / or disabuse me of the benefits and disadvantages the card would entail? - for example, would I be able to transfer funds (perhaps several thousand pounds or equivalent) from any appropriate account in any legitimate currency onto the card and then withdraw it in cash in another currency or transfer it to another account in another currency within 24 hours or less?

Finally, as an oponent of usuary in any form, I would ask 'As an alternative, would you recommend a Debit Card with the same transfer facilities in preference please? If so, which one, and why?'

Thanks.

WalterGabriel