Credit cards and the government stamp duty

B

belle08

Guest
Can i just ask... if you have 2 credit cards do you pay the €30 government stamp duty on them both?or is it just a once off for having a credit card in general? i had a credit card and paid the stamp duty on it in april. then wanted to switch to another banks credit card but the application took so long to go through cos my details and statements got "mislaid" by the bank, i ended up having to hold on to the previous card to get me by. now i want to get rid of the new one as im not happy with the limit, its not what i was offered to begin with. im also not happy with the bank, theres been too much stuff going missing and fuss over just getting a credit card from them! ive cancelled it but their saying i have to pay the duty on this card too for 08/09. so i reckon i will have to pay it again in april on my original card too?
is this correct?
 
I'm afraid you will have to pay it again on your original card. If you had managed to switch to the new one, then you wouldn't owe the stamp duty on the new one until April. But because you're closing the new account rather than switching to another one, you are obliged to pay the stamp duty when you close the account.
 
thanks for your reply Celtwytch. when i was cancelling the new card they mentioned getting a letter of exemption from the previous credit card bank. they said if i got this i would not have to pay the stamp duty. can this be done do you think?
 
I have just closed an MBNA cc account and got a letter of exemption which they tell me covers me up to next April in the event I open another cc account.
 
Pay the €30 duty as charged on the original account and request the letter of exemption which you then forward to your new Bank. I have done this and been exempted from a second charge which would have been liable between the date the second card was opened (November) and next April.
 
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