The Flex Credit Card from An Post Money offers a low interest rate and now a 0% introductory rate on card purchases.
With Ulster Bank and KBC leaving the market, many of you might be on the lookout for a new credit card.
But finding the right one 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 is the An Post Money Flex Credit Card, which has one of the lowest interest rates on the market and is now offering 0% interest on credit card purchases for the first nine months, making it a pretty compelling proposition.
First a reminder about the Flex Credit Card…
An Post Money Flex Credit Card
The Flex Credit Card is the relatively new credit card from An Post Money. It was also the winner of Best Credit Card at this year's annual bonkers.ie Awards.
It offers one of the lowest interest rates on the market at just 15.7% APR. And like all credit cards you get up to 56 days' interest-free credit if you pay your bill in full and on time each month.
A key feature of the credit card is the ability to set up an instalment plan option when making larger purchases for items over €250. This means you can spread the cost over 12 months at an even lower interest rate of 8.6% APR!
Cardholders can have multiple instalment plans at the same time, up to the combined value of their credit limit. It should be noted though that this option is only available with select merchants wherever you see the Mastercard instalment symbol.
With the Flex Credit Card, you can add up to three additional cardholders at no extra cost. Each cardholder can have their own credit card and PIN.
You also can transfer cash from your credit card to your current account if you need it, wherever you are, fee-free. The interest rate on money transfers is the same as the purchase rate and you can transfer from €100 up to 95% of your credit limit.
Now as well as all the above, An Post is offering new customers 0% interest on any card purchases for the first nine months!
So if you plan on making a big purchase over the coming weeks, and don’t want to pay it all in one go, putting it on the credit card and paying it back over a few months might be the way to go.
Pros and cons
One thing the Flex card doesn’t offer is an interest-free balance transfer option.
However An Post's Classic card does offer this option (for 12 months). However it comes with a higher APR of 22.7%.
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, which is quite high compared to other providers.
Compare credit cards on bonkers.ie
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 new credit card, the only way to get the best deal for you is by shopping around.
Use our credit card comparison tool on bonkers.ie today to find the best deals from all Ireland’s top providers in just minutes.