Credit Card FAQ's

We’ll answer all your credit card questions simply and clearly, so you stay in the know.

Credit Limit

What is a credit limit?

A credit limit is the maximum limit that you can spend on your card. It will vary based on your income and borrowing commitments. We’ll let you know what your limit is when we approve your application. We can also reassess your limit as time goes on.

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Is there a minimum credit limit?

We’ll issue you a minimum credit limit of €1,000.

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Is there a maximum credit limit?

Maximum potential credit limit is €74,999. Limits are based on your income, borrowing commitments and suitability for credit.

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Can I get an increase in my credit limit?

Yes. If you've managed your line of credit well or your financial circumstances have changed, we will be happy to review your limit.

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How can I apply for a credit limit increase?

To apply for a credit limit increase you must visit your local permanent tsb branch.

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Balance Transfer

How do I transfer my balance?

If you have an outstanding balance with another credit card provider, (within the Republic of Ireland) you can transfer it over to a permanent tsb Credit Card at a 0% (fixed) interest rate for up to 6 months. After 6 months, this defaults to the Purchase Rate.

What is APR?

Read the nitty gritty details about balance transfer

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How can I apply for a balance transfer?

Apply for a new credit card via the application form

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Can I apply for a balance transfer if I am already a customer?

You can apply to transfer your balance from a credit card with another provider in the Republic of Ireland to your existing permanent tsb Visa credit card and you'll get the 0% (fixed) interest rate for 6 months.

What is APR?

Read the nitty gritty details about balance transfer

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Chip and Pin

What is Chip and PIN?

A PIN number is a way to secure your credit card. You’ll have to enter it when you use your credit card at an ATM and for some purchases. You’ll receive your PIN with your new credit card in the mail 6 working days after we approve your application.

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How do I unblock my card?

As a security measure, if you enter your PIN incorrectly 3 times, the PIN will block and you won’t be able to use your card at ATM’s or at Chip & PIN terminals (where the PIN is required).

You can request for the PIN to be unblocked by calling us on 0818 50 24 24.

After we’ve unlocked the PIN number, you have to unblock the PIN at an ATM (where you can also change your PIN number).

Check out our Bank Cards Guide for more info about chip and pin.

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Paying my bill

When do I get my statements?

A statement date is the date your new billing period starts and previous billing period ends. You can expect to receive your statement up to five working days after your statement date. There are 4 dates available:

  • 4th of the month
  • 11th of the month
  • 18th of the month
  • 25th of the month

You have 25 days from your statement date until your payment is due.

When you apply for a credit card, your statement date is automatically set based on the date in the month that you applied for your card. You can change your statement date by calling Open24 at 0818 211 611.

Once registered you can also access your eStatements anytime and anywhere online through Open24 for a period of 24 months from the statement issue date.  We recommend you download and save your eStatement to your personal device to ensure future ease of access.

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How can I pay my credit card bill?

There are many ways you can pay your bill

a) Direct Debits:

You can set up to pay your account by Direct Debit. You have 4 options for how much of your bill you pay:

  1. 2.5%
  2. 25%
  3. 50%
  4. 100% of the balance owing

We encourage you to set up a Direct Debit when you apply for a Credit Card as it ensures regular payments.

Customers can set up a Direct Debit when applying for a Visa Credit Card by completing this section on the application form. Alternatively, existing customers can complete the Direct Debit Mandate form available in the Branch or through Open24.

If you have insufficient funds in your account, the Direct Debit will be returned unpaid and we’ll charge you an unpaid fee on your Visa Credit Card Account.

b) Online or telephone e.g. OPEN 24

You can transfer funds to your Visa Credit Card Account via Open24 (online or telephone banking). Payments from another Bank take up to 3 working days. Payments via Open24 will hit by the next business day(if made before 5pm).

c) Branch

You can lodge cash at any permanent tsb branch, or with another Bank using the GIRO at the bottom of the statement. Payments from another Bank take up to 3 working days to be processed. Payments made via a permanent tsb branch will hit your account 1 working day later.

d) Standing Order

You can set up a Standing Order to pay your Visa Credit Card Account -- you must use the following Account details:


IBAN: IE55IPBS99073270000052

+ 16 digit card number (no spaces).

Please allow up to 3 working days for your payments to clear.

What is the minimum payment I can make to my credit card?

The minimum payment due is 2.5% of the balance outstanding or €5.00, whichever is the greater.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

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I paid my permanent tsb Visa Credit Card and my Direct Debit still debited my account, why?

If you wish to make a manual payment to your permanent tsb Visa Credit Card please ensure that the funds are lodged a minimum of 7 business days prior to your due date in order to avoid your Direct Debit also deducting funds from your account.

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How far in advance of the statement date must the Direct Debit be set up?

As a result of the SEPA Direct Debit (SDD) scheme permanent tsb requires the following actions from customers in regards to Direct Debit set up and ongoing payment of Direct Debits.

  1. When setting up a Direct Debit customers need to ensure that a new mandate is set up at least 7 business days before the statement due date.
  2. For the second and ongoing Direct Debit payments, customers need to ensure that any amendments to their existing Direct Debit be made at least 5 business days prior to the statement due date.

Please note that the above is applicable for each Direct Debit set up on an account.

You can set this up using our Visa Credit Card Direct Debit mandate form.

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Interest Rates

How do interest rates work?

Interest is charged on a daily basis and applied to a Visa Credit Card Account monthly where applicable.

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How long do I have until interest is charged on my account?

You have a maximum of 56 days interest free. When you make a Visa credit card transaction on the first day of you new billing period, you’ll get an entire month before that transaction shows up on your statement. Then you have an additional 25 days to make a payment.

If you don’t pay your total balance shown on your statement each month, the interest will be charged to your next statement balance.

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What types of interest are there?

There are 3 main types of interest:

a) Purchase Interest

Purchase interest is charged on any purchases made with your card.

If you pay your total balance in full and by your due date each month, you won’t be charged interest on purchases.

If you don’t clear your balance in full by your due date each month, you’ll be charged interest from your posting date.

If you make a partial payment you’ll be charged as below:

  1. Interest on the full owing balance from the transaction date to the date the payment is made plus
  2. Interest on the outstanding balance (full balance less any payments made) from the date you make your payment to the next statement date.

For example: a customer has an owing balance of €100 of which they make a payment of €50. The customer will be charged in the following way:

  1. Interest on the full €100 from the transaction date until the payment date plus
  2. Interest of the €50 outstanding from the payment date until the next statement date

b) Balance Transfer Interest

Interest charged on the balance that you transfer from another provider. This is generally a lower rate of interest for a fixed duration, after which, it reverts to

the then purchase interest rate / APR.

c) Cash Advance Interest

Interest charged on any cash withdrawals made with the card. If the balance is not cleared in full, the interest will be charged from the statement date.

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How do I add an authorised user?

You can nominate another person to be an authorised user on your Visa credit card account. They’ll get a card and will be able to use your account.

You’ll be referred to as the “Primary Cardholder” or “Principal Cardholder” with the authorised user referred to as the “Secondary Cardholder” or “Authorised User”

The authorised user shares the credit limit that you’ve been assigned. They are not given an additional limit.

We issue only one monthly statement per account – this will show both the name of the primary cardholder and the authorised user.

Authorised users have restricted access to the Visa credit card account – they can check the balance and transaction history, but cannot request any changes to the account, apart from card cancellation and replacement.

The principal cardholder must activate the authorised users card. Principal cardholders can activate the card online at Please note that activating the principal cardholders card will automatically activate the authorised users card.

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What other charges are associated with a Credit Card?

Government Stamp Duty (GSD)

Government Stamp Duty of €30 is applied to all credit cards in April every year. It is applied retrospectively, for the previous year.

Account Switching

If you switch providers mid-year, you’re only liable to pay one amount of GSD. When you close your card with the old provider, you pay GSD. Your old provider will then issue you with a letter confirming that you paid GSD. You must forward this into the Visa Dept to ensure that you are not charged again in April.

Account Closure

If you close your Visa Credit Card Account mid-year without switching to another provider, you are liable to pay the €30 Government Stamp Duty when requesting to close the Account.

Government Stamp Duty cannot be refunded or waived.

Over Limit Fee

When you go over your approved credit limit at any time during your payment cycle, we’ll charge an over limit fee. The charge will still apply if you make a payment before the statement date that brings the account back within the agreed credit limit.

Unpaid Payment Charge

If your payment is returned unpaid, i.e. a bounced cheque or returned Direct Debit, we’ll charge a unpaid charge.

Late Payment Fee

If you don’t pay at least the minimum payment by the due date, we charge a late payment fee.

Other fees that may be applicable to some providers

  1. Cash Advance Fee: Charge applied when cash is withdrawn from a Visa Credit Card Account.
  2. Duplicate Statement Fee: Charge applied on re-ordered copies of statements that have already been received.
  3. Non-Euro Transactions: Currency Conversion Fee when withdrawing cash or making any purchase with a Visa Credit Card outside of the Eurozone.

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Can I set limits for my card online?

You can contact us to agree spending limits for using your Card online. These are subject to our daily transactions limits and sufficient cleared and available funds in your account. Our contact details are 0818 50 24 24.

What are unrecognized transactions?

If a you don’t recognise a certain transaction on your statement, you can have it investigated further.

Find out how we keep you secure

Find out more about ICE Credit Card Visa

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What is Contactless?

You can use your Contactless Visa Credit Card to make purchases online, over the phone and in stores

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What is the benefit of using Contactless?

The benefit of using Contactless is that it is much quicker to pay for items under €50 as you simply Touch & Pay. You don’t need to dip/enter/place your card into a terminal or input your PIN number.

Convenience for you

You can use your Contactless Visa Credit Card to make purchases online, over the phone and in stores.

1 It’s Fast

You can pay for things quickly without having to enter your PIN.

2 It’s Simple

Just look for the Contactless symbol, touch your card and pay. It’s that simple.

3 It’s Secure

Contactless up to €50 per single transaction. Occasionally you will be asked for your PIN as an additional security measure.

Added security for your shopping

You can shop securely online with your Contactless Visa Credit Card. Your new card includes a CVV2 number. This is the last three digits that appear on the back of your card just above the signature panel. You will be asked to quote this number when paying for goods and services over the phone or online.

Your card can also be registered to use the Verified by Visa service. This offers additional protection when making online purchases at participating retailers. See further details under the Security section below.

Added protection for your money

If you’ve paid for goods with your Contactless Visa Credit Card and they show up damaged or worse still, not at all, then we may be able to help you recover your money in the event that you have not received a satisfactory resolution from the retailer.

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What will a Contactless transaction look like on my statement?

Contactless transactions will appear similar to other transactions with a prefix of CNC e.g. CNC Shop Name 05/03 €11.43.

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When will a Contactless transaction appear on my account?

Unlike Point of Sale, a Contactless transaction may not appear immediately in your pending transactions on Open24 Online and Phone Banking or be debited immediately from your account.

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How do I activate my Contactless Visa Credit Card?

You will need to activate your Contactless Visa Credit Card before use

Registered customers of OPEN 24 can activate their card online at

If you are not registered for Open24 you can do so by calling 0818 211 611.

Once you are registered you can log into and activate your Credit Card.

When you are activating your card online you will be asked to complete additional security steps (i.e. you will receive SMS with one time password and you will need to enter 3 random digits from your 6 digit Personal Access Number (PAN)

If you need any help you can call our team on 0818 211 611 (or +353 1 212 4865 from abroad)

Contactless will be available once you perform a chip and pin transaction at an ATM or a retailer.

Please note that activating the principal cardholders card will automatically activate the authorised users card.

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What happens to my old credit card once I receive my renewal or replacement credit card?

Please note that your old credit card will not be blocked until you use your new renewal or replacement credit card. Once you use your new credit card for purchases, you will no longer be able to use your old card to pay for purchases or withdraw cash from ATMs.

Important: Please ensure to dispose of your old card securely.

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