BOI CC or overdraft?

[Shealin]

I need some advice, dont know whether to apply for overdraft or cc with BOI. What I need it for, it mainly purchases that may need to be made before monthly salary is paid. All balance will be paid within the month. Its just to give me the flexibility.

What is the best/cheapest option?

Also, if I do go for BOI CC, which one is best, clear or classic?

Thanks a million

 

[callybags]

If you are diciplined and pay it off in full by the due date, then a credit card would be the way to go. There is a €40 annual fee, but most, if not all banks will charge an overdraft arrangement fee.

You can usually get up to 6 weeks interest free credit with a credit card.

i would suggest setting up a direct debit to pay it off in full every month.

 

[Shealin]

If I was to apply for a BOI CC, which one is the best?

Clear Credit Card - 13.3% APR, 56 days interest free is balance paid before due date, 26% Cash Advance, No payment plan option

Classic Credit Card = 0% on purchases and 3.9% bal transfers for 1st 6 months. 17.4% APR, 26% Cash Advance, Payment Plan Option.

Thanks a million.

 

[so-crates]

Unless you have a balance to transfer why would you opt for the higher APR? IF you are paying off the credit card in full every month then no interest is charged anyway so both of these options would be equivalent. If there is any chance that you might occassionally not be able to pay off the full amount in a month then logically the lower APR is a better option.