KBC Bank has introduced a new credit card for the Irish Market this week.
The KBC MasterCard, which is available to new and existing customers has an 18.4% APR, a 0% balance transfer rate for six months and features a contactless “tap and go” facility which enables customers to pay for items of €15 or less without needing to enter their PIN.
The six month 0% balance transfer rate matches the best-in-market balance transfer offers from Permanent TSB and Tesco Personal Finance who both also offer 0% for six months.
At 18.25%, the APR is competitive and ranks KBC as the third card issuer in terms of APR behind AIB’s Click Visa Credit Card and Bank of Ireland’s Platinum Advantage Card.
Credit limits range from €500 to €25,000 depending on customer circumstances and up to four additional cardholders can be added to each credit card account free of charge.
“We are very pleased to see a new credit card available to Irish customers. The market has been shrinking in recent years with the loss of cards from MBNA, OneDirect and just this year Danske Bank withdrew their consumer cards too,” said bonkers.ie Managing Director David Kerr. “More choice is a good thing and a 0% balance transfer rate will certainly be welcomed by customers forced to move from their Danske Bank Cards.”
KBC has been steadily moving towards the provision full retail banking services since launching a current account in September 2013. KBC has also opened retail outlets in Dublin, Cork, Limerick and Galway that the company calls “Banking Hubs.” KBC plans to expand its Banking Hub network in 2014.