Credit cards aren’t so scary - Credit card myths & facts

Credit cards often come with a cloud of confusion. When used in the right way, credit cards can be powerful money management tools. So why do so many people hesitate when considering a credit card? We’re here to address common credit card myths and give you the right information.

Myth #1: "Credit cards are just a way to get into debt."

Not if you are smart with your credit card usage. Most Irish banks offer up to 56 days interest-free on purchases meaning if you pay your balance in full each month, you never pay any interest at all. Other transaction types can incur interest from the date of the transaction, but these will be called out clearly in your T&C’s. Instead of being a debt trap, a credit card that’s used in the right way can help you build a strong credit history, which may make it easier to access future credit products.

If you’re thinking of getting a credit card for the first time, see our guide to getting your first credit card or some benefits of a credit card.

Myth #2: "Credit cards are full of hidden fees."

While credit cards do include costs such as annual, late payment, or transaction fees, these are always clearly detailed in the terms and conditions. The Annual Percentage Rate (APR) is also clearly stated, which reflects the total cost of borrowing over a year, including interest and standard fees.

With our Everyday+ Card, we even cover the €30 government stamp duty** that is paid on all other credit cards in Ireland — another extra way to save for you as a consumer!

When you compare credit card interest rates, fees, and benefits, you can choose the card that best fits your needs. See more on how credit cards work.

Myth #3: "I’ll never be able to get a mortgage if I have a credit card."

Banks look at how you use credit, not whether you use it. People who never miss payments and stay within their agreed credit limit show that they are responsible and are able to manage their money. This can have a major impact when applying for credit in the future.

Myth #4: "All credit cards are the same."

It’s easy to think every credit card works the same way, but in reality, the best one depends on you — your goals, and how you like to spend.

For example, if you’re the one doing the weekly shop, and watching the grocery bill grow, our Everyday+ card could be a great fit. It gives you 5% cashback on groceries, up to a maximum of €25 per month for the first 12 months.*

The key is to choose a card that fits your financial goals and spending habits. With the right information, you can find one that gives you real value.

Myth #5: "Debit cards are the only safe option."

Both debit and credit cards have strong security features, but credit cards offer some extra advantages. With a credit card, fraudulent or disputed transactions can often be taken care of more smoothly, as the money isn’t taken directly from your account. Plus, many credit cards include added protection such as insurance and purchase cover - giving you added peace of mind when you spend.

If you’re making larger purchases, like a holiday, a credit card can give you better peace of mind. See some safety tips on using your credit card on holidays.

If you’re exploring the different choices, our Everyday+ Credit Card could be perfect for you - designed for your everyday spending.

Variable interest rate 20.8%. Typical APR 22.9% (Annual Percentage Rate).

Representative example: Assuming a credit limit of €1,500 drawn down in one transaction and repaid over 12 months in equal monthly instalments, total amount payable is €1669.00. The cost of credit is €169.00.

*Cashback applied at selected grocery retailers. Exclusions apply, see Credit Card FAQS. Max cashback is €25 per month 5% cashback valid for first 12 months; 1% thereafter.

**Government stamp duty of €30 will be charged to the account and refunded on the same day.

Lending criteria, terms and conditions apply. Avant Money Credit Cards are only available to customers over the age of 18 and resident of the Republic of Ireland. Rates correct as of 11th March 2026 and are subject to change.

Bankinter S.A., trading as Avant Money, is authorised by the Banco de España in Spain and is regulated by the Central Bank of Ireland for consumer protection rules.