Compare Ireland’s best credit cards
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Guide
Your complete guide to credit cards in Ireland
Credit cards are a convenient and secure way to pay. Here’s what you need to know about credit in Ireland and how to pick the right card for your needs.
- Part 1 How credit cards work
- Part 2 Types of credit cards
- Part 3 Credit card costs
- Part 4 Choosing the right credit card
- Part 5 Applying for a credit card
Our expert says
Credit cards are a safe and convenient way to buy now and pay later.
There are several types of credit cards, with a range of features to suit every financial need.
Purchase cards often come with an 0% introductory discount which means you can enjoy interest-free spending for up to 12 months. Reward cards give you cashback when you shop and sometimes the chance to earn travel perks or discounts.
If you already have a credit card, balance transfer cards allow you to move your existing debt to cut interest costs and clear your balance faster.
Our advice is to take your time to understand how credit cards work and what type of card would suit you best. Compare interest rates to find the best deal and check for any extra fees and charges.
Ensure you meet the lending criteria before you apply and understand the terms and conditions applicable to you.
The best credit cards have a low APR (Annual Percentage Rate) and a long introductory offer period, so you can enjoy interest-free purchases and balances for a longer period.
All credit card providers listed are regulated by the Central Bank of Ireland, ensuring compliance with financial regulations.
Eoin Clarke
Latest Update
Credit cards roundup
Over 400,000 credit card customers being charged too much interest
06/12/2024: Over 400,000 credit card customers are on unlawfully high interest rates.
Since 2022, the law states that new credit card accounts can’t have an Annual Percentage Rate (APR) of more than 23%.
A new report by the Central Bank revealed that 1.3m credit card accounts, or 400,000 customers, are on a higher APR.
The review also identified other issues including issues in how credit cards are marketed to customers, and the limited supports provided to customers in financial difficulty.
Only one in ten consumers plan to spend more this Christmas
27/11/2024: According to the latest Credit Union consumer sentiment survey, only one in ten Irish consumers intend to spend more this Christmas compared to last year.
In the November survey, shoppers were asked various questions about their planned Christmas spending. The research found that 46% of respondents are planning spending cutbacks this Christmas, compared to 55% last year, but only 10% plan to spend more.
Online card payments up 14.5% up year on year
04/09/2024: The Central Bank of Ireland’s Monthly Card Payment statistics reveal the value of card payments reached €6.72 billion in June 2024, down on the previous month, but up year on year - with online card payments up by 14.5%.
Mobile Wallet/NFC payments accounted for 59% of all contactless transactions. Unsurprisingly cash withdrawals in Ireland dropped by 9.7%, year on year, a trend that is likely to continue.
Despite continued cost pressures, spending on hotels, restaurants, bars and pubs has grown year on year with restaurant spending up by 10% compared to 2023.
Ulster Bank writes off outstanding credit card bills as it exits Ireland
09/08/2024: Ulster Bank is writing off thousands of personal credit card balances for customers who have yet to close their accounts.
As the bank continued its exit from the Republic, letters were sent to thousands of customers letting them know their credit card bills would be wiped, with no credit-rating damage.
A spokesman for Ulster Bank said there was no cap on the amount it was writing off for individual customers.
Ireland now second most expensive country in EU
24/06/2024: Ireland is now one of the most expensive countries in the European Union for goods and services.
According to figures from the EU’s statistical agency, Eurostat, Irish prices are 42% higher than the EU average, with only Denmark being more expensive.
Housing costs, including rents and mortgage rates, gas and electricity, are the most expensive in the EU, at over double the EU average. Alcohol and tobacco costs are also the most expensive, with high prices mainly driven by taxation.
Communications including broadband and mobiles are the fourth most expensive in the EU at 42% above average.
Our credit wise tips
A credit card can be a great spending partner when used wisely. Here’s our quick tips for managing your credit card to keep borrowing costs under control.
Don't miss payments
If you miss payments or pay late, you could incur penalties and extra fees on top of interest. If it happens regularly, it may count against your credit record and make future borrowing more expensive. Set up a direct debit and pay at least the minimum payment each month.
Pay your balance in full every month
When possible, pay your entire balance off in full every month rather than just the minimum monthly payment. This way you’ll avoid paying interest on the borrowed money and pay off your debt quicker. If you can’t clear the outstanding balance, pay as much as you can afford when the balance is due.
Use for purchases not cash withdrawals
Whilst credit cards are a safe and convenient way to shop online or in stores, using your credit card for cash withdrawals can be costly. You’ll have to pay a cash advance fee and could get charged a higher interest rate.
Consider transferring your balance
If you have an existing card debt, consider a credit card with an introductory balance transfer deal. Credit card balance transfers can reduce monthly payments. For example, moving your balance to a 0% credit card could cut interest fees and pay off your balance more quickly. Make sure you repay the debt within the discount period and avoid using your card for purchases.
Keep an eye on transaction fees abroad
It’s tempting to pay for everything by card on holiday. Paying with a credit card is easy, provides protection and saves juggling new currencies. However, foreign transactions and ATM fees abroad can quickly add up, leaving you with a hefty price to pay on your return.
Use a credit card comparison before you apply
It’s often easier to apply for financial products with your existing bank, but they don’t always offer the cheapest or most suitable deal for your needs. Find out how to pick the right credit card in our complete guide to credit cards and use our credit card comparison to search for the best offers.
What you need to know
Common credit card terms you may come across and need to understand.
What is the Typical APR?
APR is the annual percentage rate and indicates the total cost of credit, including stamp duty. Typical APR is the rate most borrowers are offered based on the average APR charged by issuers.
What is the minimum repayment?
It’s the minimum amount you must pay monthly towards your credit card balance. If you don’t cover it, you’ll be charged late payment fees, pay extra interest and could risk harming your credit score.
What is Government Stamp Duty?
Your card provider is responsible for collecting stamp duty on behalf of the Revenue. Your credit card account will be charged annually in April with stamp duty. It’s currently €30 per year.
What is a credit limit?
It’s the amount your credit card provider will lend you. Your credit limit is the maximum amount you can spend on credit and is based on your income, outgoings and credit history.