Trying to get a new credit card. Comparisons are confusing as I dont understand

rom9

Hi Guys
I am applying for a AIB credit card.

I usually pay off my monthly credit card bills and have never used it to get cash or paid interest because i failed a payment. I just keep one to do all my online purchasing as it comes handy in many places especially on websites from abroad and also when I am in a pinch at the end of the month.

I was told the Click Visa was the best card but it seems that its not very clear why it is so. From the comparison here its clear the APR and interest rate is much lower (Correct me if i am wrong but that wont affect me if I pay off my monthly credit card bills, right ?).

Comparison here: http://compare.consumerhelp.ie/CreditCardCompare.aspx?i=178,179,183,

However the "Non-euro purchases fee as % of transaction value" is definitely higher on the VISA cards than compaed to the other two :
"Currency conversion fee of 1.75% within Visa Europe Region or 2.75% outside Visa Europe Region"

as compared to Mastercard:

Currency conversion fee of 1.75% of transaction value. A MasterCard Scheme Charge also applies to non-euro purchase transactions of 0.10% (within MasterCard Europe Region) or 0.39% (outside MasterCard Europe Region.)

I often make non-Euro purchases on websites (Pounds, USD etc). So the MasterCard is clearly a better choice than the Visa Click if I intend to pay off the card debits regularly but use the card often to make online non-EU purchases.

Can some please advice ! cheers

srsly78

Get a Revolut card.

rom9

Thanks !

srsly78 wrote: »

Get a Revolut card.

I tried looking online. But can hardly see any difference between normal cards and this card ! Revoult charges 2% as well on transactions. Plus forums complain of terrible customer service.

Has anyone used this as an Alternative to credit cards ?

srsly78

No it doesn't, read more carefully. 2% fee on atm withdrawals over £200/month. This doesn't apply to purchasing stuff online. It might be annoying if you use it on holidays abroad tho.

The point of revolut is you can load it with various different currencies. If I load mine with sterling then I don't pay any outrageous currency conversion fee when purchasing off amazon.co.uk.

Yes there will always be a fee involved when transforming currencies however - this is the nature of foreign exchange. An Irish revolut user would probably load the card with euros from their normal bank account. Then using the app you can convert euros sterling at whatever the market rate is - revolut give very competive rates here (their spread is lower than others).

There is a big ongoing revolut thread: http://www.boards.ie/vbulletin/showthread.php?t=2057690035 Pop any more question you have in there.

Spocker

A key difference between a Revolut card and the Visa/Mastercard cards you've been looking at is that Revolut is a pre-paid debit card - you have to load the card up first, it's not a credit card that you pay off every month

jimmycrackcorm

Spocker wrote:

A key difference between a Revolut card and the Visa/Mastercard cards you've been looking at is that Revolut is a pre-paid debit card - you have to load the card up first, it's not a credit card that you pay off every month

It sounds like a good option for the OP who doesn't use a credit card to extend payment. However the problem is how long it takes to load the card.

Yggr of Asgard

jimmycrackcorm wrote: »

It sounds like a good option for the OP who doesn't use a credit card to extend payment. However the problem is how long it takes to load the card.

Unless you load via your debit card which is instant.

scamalert

well OP stated he uses cc for online purchases mostly and cc advantage is that you wont be scammed easily,since chrage back and scam/security it options thats most important reason to use cc online.Since prepaid card do offer protection in case you get scammed but depending on company it can cost from 20-50$ or whatever currency to launch investigation,thus security is def better when having cc,if its not concern then prepaid is way to go,since it offers some anonymity from main account.

srsly78

Revolut uses mastercard so you get same protection.

To be clear, both visa and mastercard both offer protection and chargeback on debit cards. Poster above's advice is very much outdated - not to mention probably belongs to wrong continent.

Yggr of Asgard

No you don't have the same protection as your IRISH CREDIT card.

Please remember that in the issuer is in the UK and as this is classified as a DEBIT card chargeback is the only option and that is not even a legal requirement but a common practice that CAN be operated by the card issuer. The card issuer does not have legally required responsibility for refunds under Section 75 which regulates CREDIT card transactions in the UK.

And while in practice chargebacks work very well (if done within 120 days) and for a good number of circumstances, it is unclear how Revolut does it, there is nothing the in the T&C that gives advise.

Now in practice Paysafe (the issuer of the Revolut card) in my experience is doing normal chargeback practice so there should not be an issue, but unless you can point me to the T&C which regulate this topic I would not say that the cover is the same as on your Irish credit card.
 

srsly78

It's the same as a normal UK mastercard debit.

Yggr of Asgard

srsly78 wrote: »

It's the same as a normal UK mastercard debit.

And your source is?

rom9

Thanks guys ! Can someone still comment on this section of original post:

However the "Non-euro purchases fee as % of transaction value" is definitely higher on the VISA cards than compaed to the other two :
"Currency conversion fee of 1.75% within Visa Europe Region or 2.75% outside Visa Europe Region"

as compared to Mastercard:

Currency conversion fee of 1.75% of transaction value. A MasterCard Scheme Charge also applies to non-euro purchase transactions of 0.10% (within MasterCard Europe Region) or 0.39% (outside MasterCard Europe Region.)


Revoult is not my way since I need a credit card and not a pre paid debit card.

Dodge

What don't you understand OP? One figure is higher than the other...