Credit Card Letter of Closure

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michaelm

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If I get a new credit card before I close my current credit card (perhaps only a week overlap), can I still use the Letter of Closure to avoid the April Fool €30 tax?
 
I am in a similar position. I have a a Danske Bank credit card that I have been told I have to close because they are shutting down their Irish operations. If I get a new card elsewhere do I end up paying two lots of taxes?
 
I am also with Danske with Credit Card - I contacted PTSB, who will be sending me out a "package" so I can transfer my current Credit Card a/c with Danske to them. I was going to close it, but that seemed like a lot more hassle.

After talking to PTSB, moving over the current balance was easier. Just my thoughts on it. PTSB will require salary slips / last 6 months credit card statements, ID. Even for current customers. The joys!
 
Currently changing credit cards myself. My understanding is a letter will be issued to you by Danske to state you have paid the tax, this can be sent to the new credit card company. You will not be required to pay it twice. If it has been deducted by new credit card company you will be due a refund. I would imagine any small overlap would not matter.
 
Just a further point on the overlap of the two credit card accounts. You don't have to cancel the original credit card account before you open the new one. This means you can apply for the new credit card and start using it, thereby having two credit card accounts concurrently for a period of time, before you close the original one. You just pass the 'Letter of Closure' on to the new provider when you cancel the original card. This should only cause you a problem if you try to do this around the start of April when both card accounts might be open at the same time on the date the stamp duty is due.

PTSB made a complete mess of a credit card application I made to them a few years ago and I had to resubmit my paperwork several times as they kept on losing it. I ended up with my original credit card still live and I received a further four credit cards from PTSB. I then gave up dealing with PTSB and got a credit card through NIB instead. I then cancelled the original credit card and all four credit cards I had received from PTSB. I got all my letters of closure and submitted them to NIB. Come April I was only charged one stamp duty for the NIB card that was live at that time despite having had five credit cards running concurrently at one point during the year.
 
Perfect. I'll have a brief overlap but will be sure to be down to one card, and furnish a letter of closure, before April 1st. Thanks for all replies.
 
Riddle me this: If I close my Danske credit card this month, pay the €30 tax on closure and get a Letter of Closure . . then open a new credit card next month (after April 1st), do I therefore avoid any duty on the new card in 2014 and can I then use the Letter of Closure to avoid duty in 2015?
 
I think the letter of closure only applies to the current tax year (i.e. you cannot apply it to next years tax).

Spare a thought for the many people who are going to lose their credit card facilities entirely and then be forced to pay for the pleasure. They might be best advised to shut down before the 1st April cut off to avoid being charged for a service they no longer have.
 
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