To clarify, a travelcard these days is also put on your Oystercard, so you'd get an Oystercard irrespective if you used it to do pay as you go or for a travelcard.
Whether you should use it for a travelcard depends how often you travel. If you are doing a return journey on the tube for at least 5 days a week, then it is more cost-effective to buy a travelcard. The benefit of having this on Oyster is that if you go outside your travelcard zone or if you happen to forget to renew, it's less of a hassel as you can just use credit you've put on your card.
If you are doing some trips on the bus or don't travel every day then it may well be cheaper to do pay as you go.
Enjoy London!
Posted: 2008-05-22 10:11:40