Get a free return flight to Europe with the Post Office
Flights to selected destinations in Europe, including Berlin, Madrid and Paris, are available when you apply and get accepted for the Post Office credit card.
The card offers 0% balance transfers for the first 12 months (with a 2.98% fee), 0% commission on purchases overseas and 0% purchases for the first three months. After that it reverts to an APR of 16.9%.
The cities included in the deal are Amsterdam, Berlin, Brussels, Dublin, Madrid and Paris. However, you will need to be flexible with dates of travel. In order to be eligible for the deal, you need to quote 'FLIGHT' in the application form when asked.
You have until 27 March to benefit from the offer. It's valid for 90 days from (and including) the date of issue but you can't travel on a public holiday, and there must be at least one overnight stay in between flights.
You also have to pay for taxes, fuel surcharges and booking fees.
Although this is a good deal, depending on what you need a credit card for there are better credit cards on the market. For example, Barclaycard, Nationwide and Virgin all offer similar cards with longer 0% balance transfer periods.
Once you apply for the Post Office card you will receive an instant decision and if your application is successful your card will be sent out within a week and a separate travel voucher sent from P&MM Travel Ltd.
More information can be found on the Post Office website.
Used by the holder to buy goods and services, credit cards also have a monthly or annual spending limit, which may be raised or lowered depending on the creditworthiness of the cardholder. But unlike charge cards, borrowers aren’t forced to pay the balance off in full every month and, as long as they make a stated minimum payment, can carry a balance from one month to the next, generating compound interest. As the issuing company is effectively giving you a short-term loan, most credit cards have variable and relatively high interest rates. Allowing the interest to compound for too long may result in dire financial straits.
Moving money from one account to another, whether switching bank accounts or more likely transferring the outstanding balance on your credit card to another card that charges a lower – or 0% – rate of interest. Some card providers may charge a transfer fee that can be a percentage of the balance transferred.
This is used to compare interest rates for borrowing. It is the total (or “gross”) interest you’ll pay over the life of a loan, including charges and fees. For credit cards where interest is charged at more frequent intervals, the APR includes a “compounding” effect (paying interest on interest). So for a credit card charging 2% interest a month (equating to 24% a year), the APR would actually be 26.82%.