AIB Options 2 Credit Card review July 2020

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A no-frills low-rate card for existing AIB (formerly First Trust Bank) account holders.

Representative example: When you spend £1,200 at a purchase rate of 16.9% (variable) p.a., your representative rate is 16.9% APR (variable).

16.9%

Representative APR

£0

Account fee

£500

Minimum credit limit

Details

IssuerAIB
NetworkVisa
Annual/monthly fees£0
Balance transfers16.9%
Balance transfer fee1.5%
Purchases16.9%
Purchases interest-free periodUp to 51 days
Cash advances16.9%
Min credit limit£500
Max credit limitNot specified
Additional cards available1
IncentiveOption 1 is also available & customers can switch between the options even if the outstanding balance is not cleared in full each month.

Designed for those who don’t expect to carry a balance from month to month, this card offers up to 51 days of 0% interest on your purchases each billing cycle… but not a lot else.

If you’re after a straightforward and relatively cheap card, this is the sort of deal that might appeal to you. If you occasionally need to spread repayment over a couple of months, then the card’s standard rate is competitive. What’s more, although this rate is variable, it won’t expire only to be replaced with a punishingly high rate (as is the case with many popular cards).

However, if you’re specifically seeking to minimise interest while you pay off existing card debt, or to spread the cost of a large upcoming purchase, then there are more specialised deals out there which could work out cheaper.

To apply you’ll need to be 18 or over and resident in the UK. You’ll also need to hold an existing AIB account.

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.

How does this card compare with other low-rate deals

Table: sorted by representative APR, promoted deals first
Data indicated here is updated daily
Name Product Purchases Balance transfers Annual/monthly fees Rep. APR Incentive Link
TSB Advance Credit Card Mastercard
0% for 3 months reverting to 7.95%
0% for 3 months
(0% fee)
£0
7.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 7.95% (variable) p.a., your representative rate is 7.9% APR (variable).
The Co-operative Bank 3 Year Fixed Rate Visa
8.9%
8.9%
(0% fee)
£0
8.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 8.9% (variable) p.a., your representative rate is 8.9% APR (variable).
MBNA Long Term Low Interest Credit Card
4.9% for 48 months reverting to 8.9%
4.9% for 48 months
(0.5% fee)
£0
8.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 8.9% (variable) p.a., your representative rate is 8.9% APR (variable).
Bank of Scotland Platinum Low Rate Mastercard
9.95%
9.95%
(5% fee)
£0
9.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.95% (variable) p.a., your representative rate is 9.9% APR (variable).
Lloyds Bank Platinum Low Rate Mastercard
9.94%
9.94%
(5% fee)
£0
9.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.94% (variable) p.a., your representative rate is 9.9% APR (variable).
Ulster Bank Credit Card Mastercard
9.9%
6.9%
(0% fee)
£0
9.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.9% (variable) p.a., your representative rate is 9.9% APR (variable).
The Royal Bank Credit Card
9.9%
6.9%
(0% fee)
£0
9.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.9% (variable) p.a., your representative rate is 9.9% APR (variable).
The NatWest Credit Card
9.9%
6.9%
(0% fee)
£0
9.9% (variable)
Representative example: When you spend £1,200 at a purchase rate of 9.9% (variable) p.a., your representative rate is 9.9% APR (variable).
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Repayment options

When it comes to repayments, you can make manual repayments online or over the phone (0800 382265), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee 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 for the AIB Options 2 Credit Card

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.

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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