Bank of Scotland credit card move could save Irish customers €80m

CREDIT CARD holders could cash in on a price war after Bank of Scotland announced yesterday it was entering the market.

The bank triggered a revolution when it entered the Irish mortgage market in 1999, offering borrowing rates 1.5% below most lenders and forcing them to cut rates. Analysts believe borrowers have saved up to €500m a year as a result.

Bank of Scotland (Ireland) executive director Harry Slowey said yesterday the bank would offer credit cards here within three to six months.