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    Post Office - Premium Bonds by Credit Card

    I work in a Post Office and the other day I had a customer purchase some NS&I Premium Bonds and wanted to pay for it via his Credit Card. Now at the time I was certain the system wouldn't let you pay for anything like that by credit card - only cash, cheque or debit card. But he told me he used his credit card in the past. So we tried and it went through fine.

    Now I'm 99.9% certain that that transaction will show up on your credit card statement as a PURCHASE (Post Office Limited). So I bet your wondering where I'm going with this don't you, well....

    Buy £500 of premium bonds on your credit card, take advantage of interest free periods. Cash in your premium bonds as soon as you get them and you've got a cash advance without paying the fees or the interest.

    A Lot of credit cards offer vouchers, points, air miles for example. Buy Premium Bonds, pay your credit card bill off in full, so no interest and cash in your bonds.... Great way to collect your awards from your CC company if you've cash flow can let you.

    3 Comments

    strange - I was sure you couldn't do it by credit card either?

    my credit card does 1% cashback and others do 3% for the 1st few months so you could buy £3000 worth of bonds, pay it off and take the cashback?

    odd,
    worto.

    Original Poster

    worto03;3858475

    strange - I was sure you couldn't do it by credit card either?my credit … strange - I was sure you couldn't do it by credit card either?my credit card does 1% cashback and others do 3% for the 1st few months so you could buy £3000 worth of bonds, pay it off and take the cashback?odd,worto.



    I had to say at the time I was pretty sure you couldn't settle up with a credit card because apart from stamps everything is cash, cheque or debit card.

    Learn something new everyday.

    How bizarre, on the NS&I website it says no credit cards!

    nsandi.com/pro…jsp
    Premium Bonds - Invest now

    You can apply online — it’s easy and secure, and will only take a few minutes to complete.

    Before you apply
    [LIST]
    [*]How to pay: debit card only (Maestro, Switch, Visa Debit or MasterCard Debit) in your own name. No credit cards. Please make sure you have enough money in your account.
    [*]Make sure you have a valid email address - we will need this to send you confirmation that we have received your application.
    [*]Online, you can only buy for yourself. Buying for a child? See ]other ways to apply.
    [*]Ever had Premium Bonds before? You'll need to give us your ]holder's number. We'll send your Bonds to the address we have on record. ]If you have moved, you'll need to tell us by post before you apply.
    [*]New to Premium Bonds? We'll send you a form which you'll need to sign and return within 21 days of applying. We may also ask you for ]proof of identity and address.[/LIST]
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