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Credit Card Government Stamp Duty

  • 04-11-2011 11:35AM
    #1
    az2wp0sye65487
    Closed Accounts Posts: 1,931 ✭✭✭


    Quick question for people who may know...

    I recently switched my credit card from Bank A to Bank B & transferred the balance. I now want to cancel my original credit card with Bank A. Am I liable to pay the €30 Government Stamp duty on the card that I'm cancelling?

    I know it's an annual charge and that you have to pay it when closing your credit card account - but surely as I'm still using a credit card (albeit from a different provider) I shouldn't have to pay the Stamp Duty on closing of my old CC account?

    Thanks...


Comments

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


    You'll pay it on the old account, but will get a letter from them to give to your new provider so you don't pay it twice.


  • #3
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    Roger Juicy Puppet wrote: »
    Quick question for people who may know...

    I recently switched my credit card from Bank A to Bank B & transferred the balance. I now want to cancel my original credit card with Bank A. Am I liable to pay the €30 Government Stamp duty on the card that I'm cancelling?

    I know it's an annual charge and that you have to pay it when closing your credit card account - but surely as I'm still using a credit card (albeit from a different provider) I shouldn't have to pay the Stamp Duty on closing of my old CC account?

    Thanks...

    Has to be done. Also loads of threads on this in the forum so the search function would get you the answer also.


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