Credit Card Advice

goalie2

Hi Folks,

Looking to get a credit card for the first time as bringing the family on holidays shortly. When does the APR on a purchase come into play i.e. if I dont make the minimum payment or dont pay the full price of the purchase within 56 days?

I am Bank with TSB but their ice visa card is 4% dearer on APR purchases than AIB Platinum. I guess applying to AIB would take a lot longer than going through TSB though?

Lenny

If you can't afford to repay the bill, best card to go with is none.
Apr is massive high on credit cards, and from reading your post you haven't a hope in getting an aib platinum.
If you need money, perhaps go to your credit union for a loan, the cost will be a lot less

ytpe2r5bxkn0c1

Check the bank's website but this is typical

When Are You Charged Interest?

Most credit cards give you a grace period of about one month to pay the balance listed on your credit card bill. If you choose to pay only the “minimum payment due” or if you pay any amount less than the total balance, you’ll have to start paying interest on the remaining balance.

Once that due date has passed, any leftover debt is considered a revolving debt and the credit card company will happily start charging interest on it.

Avatar MIA

I use AIB's platinum card, pay it off every month and benefit from the 0.5% cash back. I made approx 200 Euro on it last year.

I don't think the minimum income limit is that high, something like 25 or 30 k.

goalie2

Thanks Lenny,

Have paid off the flights and have the money for the accomadation and some more as well but just would like to have it as a bit of an emergency. I earn over the 40k per AIB's terms so I dont why I should't get it if applied.
You are right about the CU, that is worth checking out.

Thanks Srameen & Avatar MIA for your responses, best policy if get a credit card is to pay back in full monthly if possible.

Lenny

Ah if everything is cleared off the your off to a good start, I just assumed you were looking to book the whole holiday and take the family away and use it also,
I never looked at what aib platinum minium pay scales, just assumed it would be 50/60+!
If you want it for an emergency it could be a good idea as the loan from the CU could mean you'd just spend it, enjoy the holidays anyway!

dev100

It all depends on the terms and conditions on my credit card I have always a full month to pay off a transaction , the basic idea is that you always pay your bill in full if you don't you incurr costs . The interest incurs on the original amount until it's fully clear .

Credit cards are great for booking trips, ordering online , credit card companies look after their money they don't like to lose out so any fraud any cancellations etc they will fight everything


They are a great for emergencies and an extra line of credit for short term purposes .

Trick is always to pay bill on time everytime

slimjimmc

Moved to Banking & Insurance & Pensions

coylemj

To answer the original question......... I believe the credit card companies charge interest from the date of the purchase if you do not clear the balance.

Log-on

What is the perks of the aib Platinum card?

I have their click card and use it as a charge card and pay off in full every month.