Finding your ideal credit card by checking your usage

Our guide to spending and repayment habits has been broken down into three categories of usage, which is designed to help you decide what suits your requirements best.

Regular spender who ALWAYS clears their balance in full each month:

You purchase items on your credit card or cards often - whether it is for the household shopping, entertainment or holidays, the debt is cleared in full each month. In this case the interest rate charged is irrelevant. Many cards offer an interest free period of between 56-59 days from the date of transaction which provides flexibility before the payment is due. However, there are some cards with a no interest free period, which means you will pay interest immediately you purchase an item. Choose a card with an interest free period and decide whether you'd like to earn a reward, cash back or loyalty schemes. If your monthly spend on a credit card is minimal, then look at setting up a direct debit to guarantee clearing your outstanding balance in full each month. That way you can avoid any late payment charges.

Regular spender who USUALLY clears their balance in full each month:

Your credit card is a convenient way of managing your monthly spending but you are not always in the position of being able to clear your monthly outstanding balance or you choose not to. In this situation it makes sense to choose a card that offers a low standard rate. That way, if you choose to carry forward a balance, the interest charges for those months when it is applied are manageable. Look for a card with rewards or cash back schemes. However, a low interest rate is more important that a rewards programme if you are carrying forward sporadic debt. 

Regular spender who RARELY OR NEVER clears their balance in full each month:

If you are a regular user of our flexible friend yet rarely or never repay the debt in full, you need to opt for a card with an intro purchase rate or an ultra low standard rate. Unforunately, the higher these are then the longer you are likely to remain in debt. Choosing a credit card with a low standard rate will help to save you money in the short term. However, these rates are generally subject to a time period so check the terms and conditions from you chosen issuer. More importantly, if you have built up debt on your existing card then it could be time to consider switching to a credit card also offering a low balance transfer rate. There are plenty of cards offering both a low introductory rate combines with a low balance transfer rate, although the duration of the offer will vary so it's worth finding out what is open to you. Depending on the deals available, two separate cards for your purchases and balance transfers could be the way forward. If you are carrying significant debt, imagine the money you could save in this instance. 

No Perfect Credit Card

What works for one, will not for another. So, on that basis it pays to look at the option of having more than one credit card. There are many variables which can be used - personal, business, abroad, insurance etc. They all have their relative merits.

However, rarely does one card cover all these usages. By being clever, it is possible to compliment their different strengths and also save money. If you use a credit card for large cash flows, then the Government levy of €30 per card should not even enter into the equation given the potential interest you could be paying when managing a card poorly.

Just The Right Card

Choosing the right card for you has more to do with spending and repayment patterns than anything else. Do you pay off your balance every month? If so, then a low APR rate is not as important for someone who only plans on paying back the mimimum amount required. Do you use a credit card for cash flow purposes or for specific occasions like a family holiday? Whatever your requirements, we are here to help. Use our unique toogle bar to find the features that are most important to you and we can help you make the right choice.