Choosing a credit card in Ireland, like anywhere else, involves taking into account what you want the credit card for and what kind of credit you have. Obviously, if you have good or excellent credit, you'll have more choices and better interest rates. But with so many cards out there to choose from it can be confusing to know where to begin. Three types of credit cards you can choose from are "rewards" cards, so-called 0% cards, and balance transfer credit cards.
Rewards cards allow you to earn "points" or credits toward some goal when you use your credit card to make purchases. Maybe you'll get discounts, or points to use toward purchases. Sometimes the "reward" is cash back.
0% credit cards vary. There are the 0% balance transfer cards that let you transfer a debt from another card. There are 0% Irish credit cards that allows you to make purchases on which you won't pay any interest until the introductory rate is over. That period may be a couple of months or a whole year.
Balance transfer cards may or may not have a 0% introductory "teaser" rate. Often they do have a low introductory rate for a set period from the time you open your card. It is important to know that the clock on the introductory rate begins when you open your account, not when you transfer your balances. If you wait to transfer balances, you'll have a much shorter period in which you'll benefit from the low rate.
Some people simply opt for the card with the lowest interest rate they can get. "No annual fee" cards are very common now, and you shouldn't have to trade off a low interest rate at the expense of a high annual fee. There are plenty of no annual fee cards that carry relatively low interest rates. Often, in the long term, choosing the card with the lowest interest rate - particularly if there is no annual fee - is the best strategy. Assuming you make payments on time and don't incur fees for going over your credit limit or for other reasons, you should be able to keep that relatively low interest rate. And if they try to raise it on you for no good reason, you can probably shop around and find another card that will offer you a low interest rate. Low interest rate cards may not have the cachet that points or rewards cards do, but when it comes to keeping credit card expenses under control, it's almost always the best way to go.
