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Classic Credit Card

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How does the Classic Credit Card work?

Your Classic card is a credit card - use it for all your day-to-day expenses: weekly shopping, going to the cinema etc.

And what makes the Classic Credit Card so unique is that it's also a Payment Plan facility:

You can opt to transfer larger purchases (between €500 and 80% of credit limit) over to your Payment Plan facility. This means you can buy something now, and spread the cost over 12 months, at a much discounted rate of only 6.9% APR.
Move up to two purchases at any one time onto the payment plan
The key difference with other types of finance is that the facility is always there on your card so you don't have to fill out an application form each time you want to use it. To transfer a purchase to the Payment Plan, simply call the Customer Service Centre on 1890 251 251.

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How do I apply for one?

Simply complete the application form and return it to your nearest Bank of Ireland branch, or apply online. You can also apply by calling 1890 365 100.

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How do I add a purchase to the Payment Plan on my Classic card?

Just call our Customer Service Centre on 1890 251 251 It only takes a few minutes to set you up. Calls are charged at local rate.

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Do I need to fill in an application form to avail of the Payment Plan facility?

No need to fill out an application form - simply call the Customer Service Centre on 1890 251 251 or if abroad call +353 56 775 7747

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What information do I need when I call to add a purchase to the Payment Plan?

You need:

  • The specifics of the particular purchase you want to transfer to the Payment Plan
  • The date you made the purchase
  • The amount it was for
  • The name of the retailer or merchant from whom you made the purchase

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Can I add the Payment Plan Facility to my current Bank of Ireland Credit Card?

Yes, the Payment Plan Facility can be added to Bank of Ireland Standard, Gold and Platinum cards by calling the Customer Service Centre on 1890 251 251. This facility is not currently available for student or affinity credit cards

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What's my credit limit after I put a purchase on the Payment Plan?

The Classic limit encompasses both the Credit Card and the Payment Plan Facility. For example, if you have a limit of €2,000 and decide to put a purchase worth €1,000 on the Payment Plan then you will have €1,000 of credit remaining on the credit card. As you make the monthly payments on the Payment Plan, your available credit increases accordingly.

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How long does it take to transfer a purchase on to the Payment Plan?

The transfer happens overnight on your account or the next working day if on the weekend or a bank holiday.

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How will I know how much to repay on my Payment Plan, and when do I start paying it back?

When transferring your purchase you will be told the full repayment amounts and the first payment will be detailed separately on your next Credit Card Statement.

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Do I pay both my card and the Payment Plan together?

Yes - the monthly repayment on Payment Plan and the credit card balance are due at the same time, on the payment date specified on statement.

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What is the minimum payment on my Classic Credit Card?

The minimum payment is the monthly payment on the payment plan and 2.5% of your credit card balance.

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Can I transfer a purchase from two months ago to the Payment Plan?

You can transfer a purchase up to two months after the transaction appears on your statement. It is best to make the transfer soon after the purchase to make sure you don't miss out on the Payment Plan facility.

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Can I transfer a purchase of €400 to the Payment Plan?

No, the minimum amount is €500. The maximum is up to 80% of credit limit.

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Can I put a third purchase on the Payment Plan if they only add up to 80% of my Credit Limit?

No, only two purchases can be on the Payment Plan at any one time.

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Can I get the Payment Plan over six months?

No - The monthly repayment is always calculated over a 12-month period. But you can clear your balance early - there are no penalties.

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Can I transfer a cash advance to the Payment Plan?

No, cash advances or interest payments cannot be transferred over to the Payment Plan. It is only available for purchases.

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If my monthly repayment is €50 and my credit card balance is €500 and I pay off €400, what interest will I be charged on the remainder?

The Payment Plan monthly amount is automatically paid first, then the credit card balance, therefore €50 will be paid on the Payment Plan, then €350 off the credit card balance. Thus, there will be €150 outstanding on the credit card balance - 17.9% APR purchases or 26.0% APR cash will be charged as appropriate.

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Is there a charge if I'm late paying my monthly repayment on my card?

Yes, a late payment fee of €7.50.

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Is there an unpaid/returned direct debit fee?

Yes, a fee of €5.

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Is there an overlimit fee?

Yes, a fee of €7.50.

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Can I change my mind regarding the Payment Plan purchase, for example if I return a product?

If you return the product, as per usual the amount is credited back to your credit card and the plan ceases to exist.

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