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Post Office cuts credit card commission

Mon, 02 Oct 2006

Britons using a Post Office Credit Card abroad will not be charged commission, after the company revamped its offering.

The provider states that the changes to its credit card will allow travellers to have a better deal while away.

Furthermore, Post Office has extended the interest free period on the credit cards to eight months, from six, while consumers will also pay no interest on new purchases for three months.

After the interest-free period has ended, the credit card will feature a rate of 14.9 per cent, although Platinum customers can take advantage of a cheaper rate at 13.9 per cent.

Gary Fitton, head of Post Office Credit Card, said: "Most credit cards charge 2.75 per cent on every transaction made overseas.

"People become frustrated when they see it is costing them more to use their credit card abroad.

"We have listened to this and we have acted – now our customers have got one of the best deals going."

Moneysupermarket.com warned earlier this year that UK consumers could pay around £335 million in credit card charges while holidaying this summer.


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