Notice to PTSB Classic Credit Card Customers

Notice of changes to the Purchase Interest rate applied to the PTSB Classic Credit Card.

This change is effective from the 21 March 2025.

The change is a 3.3% decrease on the Purchase Interest Rate of the Classic Visa Credit Card.

The relevant changes are as follows:

APR is Annual Percentage Rate. The APR is the yearly cost of your borrowing, it includes the Purchase Interest Rate charged and any other fees.

Representative example:

Assume you have a credit limit on your card of €1,500.

You use your full limit to make a single card purchase immediately after  receiving your card, and you repay the €1,500 in 12 equal monthly instalments of €125 plus any interest charged for that month at a purchase interest rate of 16.50% (variable), 22.53% (variable) APR.

The total amount that you will pay back will be €1,664.06, which includes Government stamp duty of €30.00 and interest of €134.06.

Prior to the rate reduction, the interest payable in this example would be €160.

When you make a purchase with your credit card you have up to 56 days interest free. By paying your balance in full every month, you can avoid paying interest.

To help you get the most from your Credit Card, read our tips on managing your card here.

Questions and Answers

What is the new interest rate?

The Purchase Interest Rate on the Classic Credit Card will reduce to 16.5%, bringing the Annual Percentage Rate (APR) down to 22.53%. The APR is the yearly cost of your borrowing, it includes the Purchase Interest Rate charged and any other fees.

When does the new rate take effect?

The new rate is effective from 21 March 2025.

Are there any other changes to the interest rates or fees on my PTSB Classic Credit Card?

No, this reduction only applies to Purchase Interest. Purchase Interest is charged on any purchases made with your Visa Credit Card. There is no change to any fees, or the interest rate on Cash Advances, which remains at 21.96%.

I have a PTSB ICE Credit Card, is my rate changing?

No, this change only applies to the PTSB Classic Credit Card and will align the Purchase Interest Rate on both cards.

How will this affect my monthly repayments?

A lower interest rate means you may pay less interest on your purchases. We recommend you check your statement regularly to view your balance and minimum payment due.

When you make a purchase with your credit card you have up to 56 days interest free. By paying your balance in full every month, you can avoid paying interest.