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Credit Card Tax

  • 18-03-2003 1:02pm
    #1
    asmith
    Registered Users, Registered Users 2 Posts: 60 ✭✭


    I was speaking with BOI about cancelling my credit card (I'm thinking of moving to UB or anyone else who pays the €40 tax for you) and found that if I cancel now I'm liable for the €40 duty announced in the budget last December.

    Apparently the tax you pay this year on your credit card is for last year. Since the €40 was only announced in December last, doesn't that mean that the Government are asking you to pay this money without giving you the option to opt out by cancelling your card. They're asking for money "after" the event.

    Is BOI informing me correctly? Pretty sneaky of the gov if they are.


Comments

  • #2
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    Correct me if I'm wrong, but I don't think any bank will pay the Stamp duty for you...


  • #3
    Borzoi
    Registered Users, Registered Users 2 Posts: 2,876 ✭✭✭Borzoi


    Ulster Bank are claiming they will - if you spend €5000 on the card during the year.

    Me, I'd go with someone who charges less interest....


  • #4
    dmeehan
    Registered Users, Registered Users 2 Posts: 2,457 ✭✭✭dmeehan


    spending 5 grand to save 40 euro sounds abit extreme, unless of course you are already spending around the 5 grand mark every year


  • #5
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    Originally posted by dmeehan
    spending 5 grand to save 40 euro sounds abit extreme, unless of course you are already spending around the 5 grand mark every year

    Indeed, seems a bit of a crap offer!


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