Provider Avantcard is introducing the tiered interest rates, the first personalised pricing for any form of consumer borrowing in this country. Leitrim-based Avantcard, which used to be called MBNA, said there would be three rates based on customers' credit profiles - great, good and OK. The Carrick-on-Shannon company offers the Mastercard credit card, but has some of the highest interest rates in the market, with 22.9pc charged for making purchases on its card. Customers rate themselves, and this is then cross-checked by the card provider with the Irish Credit Bureau. People borrowing between €10,000 and €20,000 will be charged interest rates of between 8.9pc APR and 11.9pc, depending on their credit record.

Source: Irish Independent May 24, 2018 01:30 UTC