New Card Trio from Bank of Ireland Delivers Best Introductory Offers, Best Standard Rates, Best Extras

Bank of Ireland Challenges for Position of Number One Credit Card Provider

The battle for the title of best credit card provider was intensified today (Monday 13th October 2003) when Bank of Ireland unveiled three new credit cards which offer introductory rates of 0% on purchases for six months, balance transfer rates of 2.9% fixed for 12 months and APRs from 13.9% - the best value in the market.

The new Gold, Platinum and Standard 'Advantage' cards continue the innovative approach begun last year when Bank of Ireland became the first Irish bank to introduce 0% APR on its credit cards.

The Standard card, in a new departure, provides the option of either six months interest-free purchases or a balance transfer rate of 2.9%, fixed for 12-months. Thereafter, customers benefit from the cheapest standard APR on the market of 16.8%, a reduction of 1.1% on the current rate.

Gold advantage offers a 13.9% 'purchases' rate (previously 14.3%), the cheapest APR for any gold card at present. It too offers the introductory option of either 0% on purchases for six months or a balance transfer rate of 2.9% for 12-months.

Finally, the Platinum card offers the very competitive rate of 14.9% APR (previously 15.4%) on purchases following the introductory rate on balance transfers of 2.9% for 12 months. Uniquely, these customers are also provided with protection on items purchased using the card (Eur625 limit) as well as fully comprehensive travel insurance. This covers the card holder and their family in the event of medical expenses (Eur6.4 million), personal accident (Eur200,000), lost baggage (Eur2,000), cancellation and curtailment (Eur2,000). To qualify for Platinum, customers must earn in excess of Eur40,000 per annum.

Mr. Pat Watt, Director of, Marketing, Sales and Service, Bank of Ireland Cards and Loans Business, said: "These three cards provide the customer with options to suit all priorities - whether it is to find a better rate for a balance or to start afresh on zero percent. Our introductory offers are very attractive but what's equally important is that we keep the benefit going for the customer with some of the best rates in the market- and not just for the gold or platinum cards either. We are the only bank that provides a choice of introductory offers on our cards. The travel insurance on our platinum card would beat some of the best insurance providers in the market.

Our goal is simple. We are challenging for the position of number one credit card provider. Since we introduced the first 0% APR on retail purchases last year, several other providers have followed suite. It's time to raise the bar again," he added.

Bank of Ireland Cards and Loans business provides both consumer and commercial card products and is the sole issuer of American Express cards in Ireland.

(ENDS)

13th October 2003

For further information:

Pat Watt
Director of, Marketing, Sales and Service
Cards and Loans Business
Bank of Ireland
Tel: 01 6647544

Anne Mathews
Media Relations Manager
Group Corporate Communications
Bank of Ireland
Tel: 01 604 3836