Are you on the lookout for plastic? Whether you are interested in a first or new credit card or looking for a debt-safe alternative via a prepaid card, this is the area to find out more.


Credit Cards

Credit cards are very popular in Ireland and people who don't have one are often on the lookout for one. Essential for many significant purchases, credit cards have become an international form of payment and are accepted in most locations around the world.

What is an Annual Fee?

Credit card issuers charge an annual fee for use of the credit card. This is a flat fee and is one factor worth comparing when you are looking for a new credit card.

What is APR?

APR or Annual Percentage Rate is the amount which the card company charges you for 'borrowing' money. Lenders generally have a variety of ways of calculating this rate so the APR is one feature to look out for when searching for a credit card.

What is Balance Transfer?

If you already have a credit card you can take a new card and transfer your existing balances onto the new card. This is recommended when a new card carries a good balance transfer rate or 0% balance transfer period.

Can Low Credit Customers Get a Credit Card?

There are so many types of credit card on today's market that even if you have a low credit rating you can still find a credit card to suit you. Generally the cards that are available to low credit borrowers are Secured credit cards.

What is a Secured Credit Card?

A secured credit card is one which requires a security deposit. The credit limit you receive will then be a percentage of your security deposit or your bank account balance. Generally secured credit cards are offered to people with low credit ratings or those who are first-time borrowers.

What is a Credit Limit?

The credit limit is the maximum amount that the card company will allow you to take at once on a card. Generally the credit limit is lower for first-time card holders and those who have a poor credit history. Card applicants with an excellent credit score are often offered a much higher credit limit.

What are the Benefits of Credit Cards?

Credit cards offer a great level of financial freedom for the card holder. As long as you keep to the minimum monthly payments and don't spend more than you can afford then – in other words, you manage your card well – then you can improve your future chances of borrowing. You can also make significant purchases or down payments for important assets such as a car or property.

Credit cards are accepted worldwide and can be used to make online payments.

What are the Disadvantages of Credit Cards?

While credit cards offer a great amount of financial flexibility, they should be treated with caution. A card which is poorly managed, with late payments, can bring a person into a high level of debt with expensive interest fees and charges. A badly managed card can also cause damage to your credit rating. Before applying for a credit card make sure you consider this carefully and keep in mind that you will be required to pay at least the minimum monthly payments.


Please Note: is not authorised to give personal financial advice under the Republic of Ireland’s financial regulations.

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