What is the status of credit card surplus balances in relation to the bank gurantee?

J

johnnyboy22

Guest
Hi All,

First post here on askaboutmoney. I've tried to find the answer to this question but I've had no luck I'm afraid.

So, say I have placed money on my credit card and it is cash positive so to speak. What is the status of this money? Does it count as a deposit and is it covered by the deposit guarantee scheme?

Any help any of you could provide would be much appreciated.
 
I would pressume if the card is supplied by a bank covered by the gauruntee yes. Although what about visa and mastercard, where do they fit in??

Others may know more
 
Why do you have a positive balance on your credit card?

Have you considered non Irish banks for safety reasons?
 
CiaranT said:
Why do you have a positive balance on your credit card?

Have you considered non Irish banks for safety reasons?
Click to expand...

I've opened a rabodirect account Ciaran. I just like to maintain a positive balance for my bills, direct debits etc.........
 
You must log in or register to reply here.
Back
Top