In this guide

  • Our verdict
  • Details
    • Product overview
    • Fees and charges
    • Application requirements
  • Your reviews

AIB Options 1 Credit Card review

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AIB Options 1 Credit Card
3.5
★★★★★
Finder score
Representative example:
When you spend £1,200 at a purchase rate of 17.44% (variable) p.a., your representative rate is 18.9% APR (variable).
Earn rate
1p per £1 spent
Intro cashback
Up to £25
Account fee
£0

Our verdict

Earn cashback on your day-to-day spending and enjoy interest-free days on your purchases with this AIB (formerly First Trust Bank) offer.

If you're looking for a new credit card to make your spending go a little further, cashback deals such as this can be a smart choice. That's provided you don't expect to carry a balance from month to month and can therefore take advantage of the card's 56 days of 0% interest on your purchases each billing cycle. If you do expect to carry a balance month to month, then with this card you'd likely pay more in interest than you'd earn in cashback.

It's also worth noting the high minimum spend you'll need to meet in order to qualify for cashback.

AIB cards are issued on the Visa or Mastercard networks (you can decide which you'd rather), meaning they're accepted pretty much everywhere that takes plastic. For most of us, either network is perfectly fine, but you can read up on some of the differences between the biggest card networks.

Pros

  • Earn cashback on day-to-day spending
  • Up to £25 introductory bonus cashback
  • No annual fee

Cons

  • Applicants with low credit scores are unlikely to be eligible
  • Only available to existing customers

In this guide

  • Our verdict
  • Details
    • Product overview
    • Fees and charges
    • Application requirements
  • Your reviews

Details

Product overview

Issuer AIB (NI)
Network Visa
Representative APR 18.9% APR (variable)
Annual/monthly fees £0
Loyalty scheme Cashback
Cashback details 0.5% after £5000 of yearly spend. Minimum of 12 transactions per year required. Maximum of £250 cashback paid per year. Cashback paid Anniversary into Card Account. For initial £5K a £25 cashback is paid, plus an additional £1 for every further £200 spent.
Additional Rewards Info Option 2 is also available & customers can switch between the options even if the outstanding balance is not cleared in full each month.
Purchases 17.44%
Purchases interest-free period (days) 56
Balance transfers 17.44%
Potential costs 3.5 ★★★★★
Doing its job 3.0 ★★★★★
Extras 4.0 ★★★★★
Overall Finder score 3.5 ★★★★★

Fees and charges

Minimum monthly payment 3% or £5 (whichever is greater) or the total of any interest, default fees and charges plus 1% of the outstanding balance.
Annual/monthly fees £0
Balance transfer fee 1.5%
Foreign usage charge (EU) 2.75%
Foreign usage charge (rest of world) 2.75%
Cash advance fee 1.5% (min. £3)
Late payment fee £12
Exceeding limit fee £12
Additional card fee £0
Dormancy fee £0

Application requirements

Minimum Age 18
Availability Available to existing customers

How does it compare?

AIB (NI)'s card

1 - 1 of 1
Name Product Rewards earn rate Max. intro bonus Purchases Representative APR Link Incentive Representative example
AIB Options 1 Credit Card
0.5% cashback
£25
17.44%
18.9% APR (variable)
0.5% after £5000 of yearly spend. Minimum of 12 transactions per year required. Maximum of £250 cashback paid per year. Cashback paid Anniversary into Card Account. For initial £5K a £25 cashback is paid, plus an additional £1 for every further £200 spent.
Representative example: When you spend £1,200 at a purchase rate of 17.44% (variable) p.a., your representative rate is 18.9% APR (variable).
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Other popular cashback deals

Table: sorted by representative APR, promoted deals first
Name Product Rewards earn rate Max. intro bonus Purchases Representative APR Link Incentive Representative example
Santander All in One Credit Card
0.5% cashback
N/A
0% for 15 months reverting to 23.9%
29.8% APR (variable)
Check eligibility
0.5% after £1 of monthly spend. Maximum of £10 cashback paid per month. Cashback paid Monthly into Card Account. Maximum spend for cashback purposes is limited to credit limit.
Representative example: When you spend £1,200 at a purchase rate of 23.9% (variable) p.a. with a fee of £3 per month, your representative rate is 29.8% APR (variable).
Amex® Cashback Everyday Credit Card
1% cashback
£100
31%
31% APR (variable)
Check eligibility
Welcome offer: Get 5% cashback on your purchases (up to £100) for the first 3 months of Cardmembership. Terms and minimum spend apply. 18+, subject to status.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a., your representative rate is 31% APR (variable).
Amex® Cashback Credit Card
1.25% cashback
£125
31%
36.7% APR (variable)
Check eligibility
Welcome offer: Get 5% cashback on your purchases (up to £125) for the first 3 months of Cardmembership. Terms apply. Spend £0 to £10,000 and receive 0.75% cashback on all purchases. Spend over £10,000 and receive 1.25% cashback on purchases.
Representative example: When you spend £1,200 at a purchase rate of 31% (variable) p.a. with a fee of £25 per annum, your representative rate is 36.7% APR (variable).
Pulse Card Mastercard (existing NewDay customers only)
0.25% cashback
N/A
Your interest rate will stay the same as your current NewDay card
APR (variable)
Get 0.25% cashback every time you shop, up to a maximum of £150 cashback per year
If you are a current NewDay customer and have been invited to transfer to a Pulse Card, your interest rate and credit limit will remain the same.
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Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.

Repayment options

You can make manual repayments through AIB (NI)'s app by logging in to your online banking or over the phone (0800 382265). Alternatively, you may wish to set up a direct debit.

A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.

You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.

Choose from the following direct debit options for your monthly repayments:

Minimum amount Fixed amount Fixed percentage Full amount

How to apply

If you have compared cards and want to apply, you'll need to call AIB (or request a callback). A credit check will be performed based on the information you have given and you will normally receive a quick decision. Once approved, you should receive your new AIB credit card within 3–5 working days.

Frequently asked questions

What credit limit will I get with the AIB Options 1 Credit Card?

If AIB (NI) offers you this deal, it will specify a personalised credit limit based on AIB (NI)'s assessment of your situation. The minimum limit offered on this card is £500, and AIB (NI) does not specify a maximum. Once you've had the card for a while and shown AIB (NI) you're reliable, you may wish to apply for a credit limit increase.

Can I withdraw cash using the AIB Options 1 Credit Card?

Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.

The cash advance fee on the AIB Options 1 Credit Card is 1.5% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £3.75.

The interest rate on this part of your balance will be 18.9% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).

How much does it cost to use the AIB Options 1 Credit Card abroad?

Non-sterling transactions are subject to a 2.75% charge. For example, if you spend 200 euros (£171.00), it'll cost you around £4.70 in fees.

What is the minimum payment on the AIB Options 1 Credit Card?

Each month, you must pay at least 3% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £150.00 outstanding, you'd pay £5.00, and if you had £666.67 outstanding, you'd pay £20.00.

Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money, which can lead to persistent debt.

Finder credit card scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our experts score cashback credit cards to determine their value against similar products on the market. We look at a number of important factors, like welcome bonuses, introductory and ongoing earn-rates, any limits or restrictions to earning cashback, plus the potential costs involved with running the card both in the short and longer term.

You can read more about our scoring criteria on our credit card methodology page.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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