An Post Money extends balance transfer on credit cards to 15 months
Rob Flynn
Staff Writer

The An Post Money Credit Card is a low-interest option for consumers who might want to transfer a credit card debt and pay it off cheaply over a longer period of time.

Finding the right credit card can sometimes feel like looking for a needle in a haystack, especially considering there are so many offers and APR rates to comb through before you get to the right one.

However, one credit card that's caught our attention of late is the An Post Money Credit Card which is now offering 15 months' zero interest on credit card balance transfers (CCBT) - the best value on the market at the moment!

But before we get into the finer details of what's available, first, a little reminder...

What is a credit card balance transfer?

A credit card balance transfer (CCBT) allows customers to transfer the balance on their existing credit card over to another provider, in this case An Post Money, in order to pay off their debt at a much lower interest rate.

Balance transfers usually require customers to abide by a number of rules, especially if taking advantage of a promotion, including making sure payments are made on time as well as staying within one's credit limit.

What’s on offer?

An Post is offering new customers a credit card balance transfer rate of 0% when they transfer their balance from any existing credit card to the new An Post Money Credit Card.

What’s more, the promotional period of 12 months has also been extended to 15 months, which now makes it the longest available CCBT on the market for those looking to switch and save.

However, An Post Money’s rules do outline that customers must pay a minimum of €25 off their credit card balance each month. That being said, most customers will likely want to clear the balance as soon as possible anyway.

To avail of the promotion rate with An Post Money all you have to do is complete the balance transfer within 90 days of opening your account - it’s that simple.

What about card purchases?

If you have a credit card, chances are you’ll want to use it at some stage too and not just keep it for paying off a transferred balance, so a valid question potential customers might ask themselves is how much extra any purchases will cost?

The good news is that it won’t cost you any extra by way of interest as long as you make sure to pay off any new purchases by the payment due date each month. If not, an interest rate of 22.9% APR will apply.

For example, if you transfer a balance of €1,000, that balance remains interest-free for a whole 15 months, minus the minimum €25 that must be paid each month, of course.

However, if you also make a new purchase of say €100, interest will only be levied on this amount if you don't pay it off by the payment due date. 

Pros and cons

The extended 15-month, interest-free period on balance transfers is a boon for customers who may have overexerted themselves with their card spending over the years and are looking for a cheaper way to pay it all back.

Additionally, customers can use their credit card for new purchases as normal and, like any other card, won't be charged interest on this as long as they pay what's due in full and on time each month. 

The most important thing to bear in mind, however, is that if you don't pay off any new purchases in full by the due date on your statement, you'll be subject to an interest rate of 22.9% APR, which is high even by credit card standards. 

A late payment fee of €15.24 also applies, as well as an over-limit fee of €12.70 for customers who go over their credit limit on any monthly statement.

You can see the full list of fees and charges over on An Post’s website should you be interested in applying.

Personal loan rate change

An Post Money has been very busy this January and it’s not even the end of the month. This week the lender also lowered its personal loan rates which you can read more about here.

Customers looking to take out a loan of between €15,000 and €24,999 can now get one of the lowest interest rates on the market with An Post's fixed rates now starting at 7.2% APR.

Those looking to take out a personal loan of €25,000 and above can get a fixed rate from just 6.9% APR. However the exact rate you get will be based on your financial profile and credit history and will only be confirmed once your application has been fully reviewed.

It should be noted that lower personal loan rates may be available from other financial institutions but some may require you to be an existing current account customer or meet certain criteria. 

Equally, better rates for other loan purposes, such as for home improvements, may also be available.

Recent An Post news

An Post has been in the news numerous times recently. Here’s a recap if you missed any updates.

Back in November, An Post announced that it was making Apple Pay available to its current account customers. 

Earlier this year in February, An Post took the surprise decision to end its popular MoneyBack rewards programme, which allowed current account holders to earn cashback on various purchases and bills.

In late May, An Post increased the price of stamps, which affected the cost of a standard postage stamp.

Compare credit cards on

Taking out a credit card is a big decision and the last thing you want to do is enter into a commitment before properly assessing the best options available to you.

So, if you’re considering applying for a credit card, the only way to get the best deal for you is by shopping around.

Use our credit card comparison tool on today to find the best deals from all Ireland’s top providers in just minutes.

We recently ran through the main credit cards available right now to help you decide which is best for your needs. 

Make sure you check out our full range of banking and personal finance comparison services. You could easily start lowering your everyday banking costs today!

If you have any questions regarding credit cards, feel free to get in touch with us. Comment below or contact us on Facebook, Twitter and Instagram.