american express (stamp duty)

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colc1

Registered User
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guys just wondering what is the stamp duty on american express cash back cards, is it €40 as well? Also does that mean (assuming it is €40) that if you now have an AE card and a credit card (at the same time) you pay €80 stamp duty altogether, thanks
 
The stamp duty on all credit cards is €40. So, yes, if you hold 2 credit cards - an AMEX blue and another card you will pay €80 stamp duty.

Marion
 
Marion said:
The stamp duty on all credit cards is €40. So, yes, if you hold 2 credit cards - an AMEX blue and another card you will pay €80 stamp duty.

Marion
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Thanks Marion I wasnt sure if AE cards were considered as credit cards as such and how the new stamp duty (changing cards in one year worked)
 
Many people think the AMEX blue is a [broken link removed]. It is, in fact, a credit card.

If you switch a card during the year and close the original card you will only pay €40 stamp duty. If you hold onto the 2 credit cards you will pay €80 in stamp duty.

Many people, myself included, have Amex Blue cards. I use it to pay for most items - groceries, petrol, insurance, flights, etc. However, it is not accepted everywhere and so I do not rely on it as my only credit card. The cash back which I receive from Amex pays the stamp duty on my cards and also gives me some pocket money for myself.

Marion
 
thanks Marion, you dont pay a yearly charge as well as stamp duty for your amex card do you? Do you find it a problem the fact that places dont accept it (is that very common)?
 
Hi Colc1

No. There is no annual charge with Amex Blue. The only charge I pay is the stamp duty.

I suspect that it depends where one shops.

Tesco accept it
Dunnes Stores
Most petrol outlets
Most hotels
Most restaurants
Small local shops are unlikely to accept it.
Major department stores will accept it - Brown Thomas.
I don't think that M&Spencer accept it
My doctor and dentist don't accept it.
Aer Lingus accepts it
AXa insurance accept it
Play.com accept it
My local county council accepts it - tax on car

I'm sure others will be able to add to this list.

Marion
 
thanks for your detailed response marion, why dont these places accept it as it is a credit card?? Weird
 
AMEX blue service charges to the retailer are higher than other credit card companies.

For this reason the smaller outlets tend not to accept AMEX blue.

Marion
 
I believe the percentage the retailer has to pay Amex on each transaction is slightly higher than for Visa or MasterCard.

It's a nice little bonus when you manage to pay for something major with it where you weren't expecting to — I recently charged €1500 of online flights bookings and thought '€15 off? That'll do nicely...' :eek:

[Edit: post crossed with Marion's]
 
I see that makes perfect sense guys, its a pity though as otherwise I would have got an amex blue or card offering similar incentive and stuck all my kmoney in northern rock demand online ;)
 
Marion is iit actually worth your while then have the amex are do you do a lot of shopping in BT :)
 
Marion said:
Tesco accept it
Dunnes Stores
Most petrol outlets
Most hotels
Most restaurants
Small local shops are unlikely to accept it.
Major department stores will accept it
Click to expand...
Between that lot we spent €20K on ours last year (large family). €200 cashback is better than a poke in the eye...
 
Colc1

Yes, I think it is worth my while to have it. It is the first card I will offer a retailer. I like the idea of getting money back for shopping. My most decadent purchase was a round of drinks using my AMEX on one of the Askaboutmoney social events. One of the other mods called it "Save while you drink"

Now that you mention it ... I like to do some shopping in BT.

Marion
 
Marion said:
Colc1

Yes, I think it is worth my while to have it. It is the first card I will offer a retailer. I like the idea of getting money back for shopping. My most decadent purchase was a round of drinks using my AMEX on one of the Askaboutmoney social events.

Marion
Click to expand...

so the pubs take it to! Maybe its worth an investment!
 
Wait I was just thinking if my maths are right you would have to spend 2 grand a year to cover the stamp duty!!
 
No Colc1, unfortunately one can't pay a mortgage with it. You'd have to spend €4000 to get back the €40 for the stamp duty.

Marion
 
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