Credit Cards 101 - AIB’s Simple Guide

AIB provides you with a quick guide as to how credit card services work, what the benefits are and where you can apply. Whether you’re applying for your first credit card or are a seasoned credit card owner, read our quick guide on credit card services in Ireland. It covers:

● How credit card services work

● The benefits of having a credit card

● Where to apply for a credit card in Ireland

AIB also offer a range of credit cards to suit your needs, with competitive interest rates.

First things first - what is a credit card?

A credit card is a convenient payment tool with an approved credit limit that is assigned to you based on your personal capacity to repay. Your AIB credit Card is accepted in over 36 million outlets worldwide to purchase goods and services from shops and restaurants to airlines and hotels.

Paying by Direct Debit is a great way to manage your account. You can pay 100% of your balance each month or choose from 3%, 5%, 10%, 25% and 50% as other available options; meaning you can spread the cost of that sofa or holiday over a time that suits you.

How exactly does a credit card work?
A credit card account works on a monthly credit limit and requires a minimum payment each month to keep it in order. A credit card statement is issued to you each month detailing your spend and outlining the minimum payment required and payment due date. The minimum payment required is 3% (or €6.35, whichever is greater) of the balance outstanding but if you pay the balance in full, you will not be charged interest. If you part pay, you are charged interest on the full balance.

The more you spend the less available credit you will have left until you pay that spend off.

What not to do with your credit card
Remember though, don’t overdo it! The card is primarily for short term borrowing. Additionally, cash advances on your credit card are expensive, avoid them if you can. Avoid a bad credit rating by paying your credit card bill on time.

What are the benefits of a Credit Card?
Credit Cards are a very useful payment tool and it is important to maintain the account correctly to keep a good credit rating. They provide a safe and secure method for handling your money as you don’t have to carry large amounts of cash at all times and are accepted worldwide. Your card is also protected by both chip and PIN technology. For online shoppingVerified by VisaandMasterCard SecureCodeis used to protect both the customers and seller.

Your Credit Card can also be used as an everyday card, getting up to 56 interest free days if you pay in full every month. Your card also provides you with cost effective banking as there are no transaction charges on purchases. They enable you to make key purchases and spread the cost of payments, especially if you really need the goods now and you can afford to pay off the bill later over a few months.However, please remember to protect your credit rating and use your card responsibly.

Help for a Lost or Stolen Card

Whether you are at home or abroad, AIB provide a24 hour servicefor all our credit card customers, so whether your card is lost or stolen, we are always available to assist. Also if you are abroad, we can provide you with an Emergency Cash Advance Facility within 48 hours in most countries*.

How to apply for a Credit Card?
An AIB Credit Card application is a straight-forward process. You can use multiple AIB channels to apply for your new credit card. Here’s how:

●Online:Log ontoAIB Internet Banking, where your application can be submitted in minutes.

●By Telephone: Call our team on 0818 724 725

●In Person: Call into any of our 200 AIB branches nationwide. We’re happy to answer any questions you have and help you find the right kind of AIB Credit Card to suit your needs.

Credit Card Offer for New Customers
Get in touch for more information on credit cards that give you flexible and secure spending and avail of our incredible introductory interest offer we are currently offering new customers. Visitour websitetoday.

Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland.

* Subject to available credit, fees and charges may apply.