An Post Money launches Flex Credit Card with its lowest ever interest rate
Sarah Rigney
Staff Writer

An Post Money has announced the addition of a second credit card to its product suite. The Flex Credit Card allows customers to avail of An Post Money’s lowest ever credit card rate and offers an instalment plan feature. 

The launch of the Flex Credit Card builds on the success of An Post Money’s existing Classic Credit Card which offers the best value on the market for credit card balance transfers.

In a bid to become more environmentally friendly, An Post Money also revealed that going forward both credit cards will be now issued on PLA biodegradable cards. The new cards will also feature an accessibility notch. 

So, what exactly does the Flex Credit Card offer customers and how does it compare to An Post Money’s Classic Credit Card? Let’s take a closer look!

An Post Money Flex Credit Card

Lowest ever interest rate

With the Flex Credit Card, An Post Money is offering its lowest ever interest rate, from just 15.7% APR, which compares favourably with other credit card options available.

Instalment plan option

A key feature of the new 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 fixed 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 that this option is only available with limited merchants wherever you see the Mastercard instalment symbol.

Instalment plans can be a great alternative to personal loans if making more hefty purchases and only a few banks, such as Bank of Ireland (BOI) and KBC, offer them at the moment. 

Bank of Ireland offers an instalment plan feature on its Classic, Platinum Advantage and Aer credit cards. With BOI purchases over €250 can be paid off in either 6, 12 or 24 equal monthly instalments, at an even lower interest rate of 6.9% APR. 

Similarly, KBC offers an instalment plan with its Cash Reward credit card. The cost of purchases greater than €500 can be spread over 12, 18 or 24 fixed monthly instalments at a variable rate of 8.64% (8.99% APR).

Interest-free credit

With An Post Money’s Flex Credit Card, you can get up to 56 days' interest-free credit if you pay your bill on time and in full each month. This does not apply to purchases using the instalment plan feature though.

Additional cardholders

Need to give your family access to credit? 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.

Money transfers made easy

You also can transfer cash from your credit card to your current account when you need it, wherever you are, fee-free with the Flex Credit Card.

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. 

How does the Flex Credit Card differ from the Classic?

Now that we’ve gone through the unique features of An Post’s Flex Credit Card, let’s see how it differs from the Classic Credit Card.

The biggest, most obvious difference between the two is the purchase rate. With the Classic Credit Card, customers are charged a much higher rate of 22.9% APR. 

However since the Classic Credit Card has Ireland’s lowest balance transfer rate - 0% interest on credit card balance transfers for 12 months - you could argue that the higher APR is worth it if you're looking to transfer a large balance and pay it down quickly.

The other major difference is that the instalment plan option is only available exclusively with Flex Credit Card.

Both cards do offer some overlapping features:

  • With An Post Money’s Classic Credit customers can also have three additional cardholders, transfer money from their credit card to their personal bank account and get up to 56 days' interest-free credit. 
  • Both cards are accepted globally and both offer fraud protection thanks to the MasterCard Chargeback Scheme.
  • Customers with either card can access Mastercard’s Priceless Cities offers that include hotel getaways, fine dining, golf and spa breaks and much more.
  • Additional Travel Services through International SOS Assistance Limited which offers special emergency services to assist customers travelling abroad for no more than 90 days.

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