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Credit Card charges

  • 19-06-2007 11:49am
    #1
    philstar
    Banned (with Prison Access) Posts: 2,986 ✭✭✭


    Im sorry if this topic has been covered before..its my first time using this forum

    Im just completely clueless when it comes to banking charges and the like:o ...

    So i just wanna know ....everytime i use my credit card to pay for something online or anywhere am i being charged for each transaction??

    if so..how much??.........and is there any other sneaky charges i should be aware of?

    Thanks in advance Phil.


Comments

  • #2
    BC
    Registered Users, Registered Users 2 Posts: 1,326 ✭✭✭BC


    No you are not.

    You would need to check the specific terms for your credit card as it does differ, but in general - you don't get charged when you use the card, you only get charged if you don't pay the bill when it arrives. You must pay the minimum balance and you will be charged interest on the remaining balance if you don't pay in full. If you pay the bill in full then you don't pay any interest or charges.

    The exception is if you use credit card cheques or withdraw cash from an ATM on your credit card. In those cases you usually get charged interest from the date of the transaction.

    You also have to pay a yearly government tax on the card of 40 euro.


  • #3
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    BC wrote:
    You must pay the minimum balance and you will be charged interest on the remaining balance if you don't pay in full.
    Not quite, unless you clear the entire balance you'll be charged interest on all of it, including the part you paid off.

    There could be a small charge when buying online if the website charges in a foreign currency. Most charge between 1-3% for currency conversion.

    Here's a handy survey document on the IFSRA website that shows differences between various cards.


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