credit Card Cancellation and GSD!

Hello there,

I cancelled my AIB Creadit Card today before having to pay the GSD for 2009. But I was charged €30 GSD for cancellation, eventhough I payed for the GSD Apr 2008 - Mar 2009.

Is that normal? I was told that if I cancel in april, I'll be charged twice, once for the new fiscal year (Apr 2009 - Mar 2010), and once again for cancelling!

Is that right? If not, how can I claim my €30 back ?

Thanks for helping.

The Government Stamp Duty on credit cards is paid in arrears, and is due on 1st April each year or on account closure. The amount you were charged when you closed the account refers to 2008/09, which you haven't paid before.

If you close your account in April, you will pay GSD on 1st April for 08/09, and GSD for 09/10 because you're closing the account.

The only time you may be charged twice for the same year is if you switch credit cards, but that can be sorted out by getting an exemption letter from the CC company you're leaving so that the new CC company doesn't double-charge you.

Thanks a lot, That made it clear!

Thanks also for the clarification on the due date for the GSD. I asked at a branch of the NIB recently and the concensus among staff there was "sometime in April, we think".

They could usefully spend some time on this site.