The Ryanair MasterCard may well appeal to regular fliers who use the budget airline. The credit card which Ryanair offers, part of the Santander range of cards, gives card holders the chance to redeem free return flights through spending on the card. The card does have some useful features for frequent fliers with Ryanair, providing they never carry a balance.
The Ryanair card can be applied for online, but applicants do need good credit. The APR on the card is currently a high 19.9% to 24.9%, dependent on individual credit. Cardholders who avoid interest charges by paying the balance in full each month benefit from a 56 day grace period. The cash transaction interest charge is 28.4%, with cash transactions costing 3%.
Balance transfers are offered at 0% APR for 12 months, with a 2.99% balance transfer fee. Purchases made in this period attract the higher rate of interest, and the 0% rate will be withdrawn if payments are made late or the credit limit is breached.
Ryanair apply a rather imaginative charge to cardholders who carry a balance. They add a £10 charge if a balance is carried for three consecutive months. Additionally there is a £10 dormancy fee levied on cardholders who don’t use the card frequently. Other fees charged are standard at £12 for late payments, 2.75% for overseas transactions and £3 per copy for paper statements.
The lure of the Ryanair card is the free bonus flights. Card holders who spend £100 on the card within the first 90 days of signing the credit card agreement will receive one free return flight. Other flight offers run in six month blocks from June to December, and December to June.
Card holders who spend £1500 in one six month block period receive one free flight, and spending £3000 reaps a free return flight for two people. Spending by second card holders also qualifies towards the amount required for free return flights. Card holders should be aware that black out periods apply to the free flights, and all taxes, fees and charges still apply to flight costs.
Additionally the card advertises exclusive card holder offers which appear to be non existent. The only exclusive offer it carries is with Snapfish and expired in 2009, yet is still advertised.
The Ryanair card could be useful for those who fly with the budget airline, in order to accrue free return flights through spending. The benefits will be cancelled out though for anyone who carries a balance on the card due to the uncompetitive interest rates levied.