NIB Master card €2

C

collie

Registered User
Messages
42
I just opened a current account with NIB as its compulsory for their new LTV mortgages. I also opted for a MasterCard which has a very favourable APR. This however should not really affect me as I do not run into dept with credit cards.
However be warned that they charge €2 for every cash in advance transaction. I withdrew €10 the other day, more to check the pin was working etc and then discovered on line it had cost me a staggering €2. This fee is apparently standard. It was not compulsory for me to take this card so I will save myself the hassle and yearly charge and keep my more expensive card and ensure I never have to pay interest.

€2, come on guys your having a laugh………..
 
Have you actually compared the NIB charge for cash advances to other providers?
 
If you wanted to check that the PIN was working then you really should have lodged some money to the card first. Or just tried a credit transaction. Did you really expect there to be no charge for cash advances? Are you sure that in addition to the €2 you will not also be charged interest?

If you hold a credit card already then haven't you just incurred an additional €40 stamp duty charge by using this card?
 
I was expecting a charge but not €2, it sounds as if you think this charge is ok!
I think your right about incurring the Govt charge :-(
We live and learn!
 
The charge is comparable with what other providers charge (see here for more details) when you use your credit card to withdraw cash, and, as ClubMan says, you may also be charged intrerest from the date of the withdrawl (regardless of whether or not you pay the bill on time).

That's why I never use a credit card in this way.
 
All the information you need to know about how competitive credit cards are are printed here:

[broken link removed]

other reports also available:

[broken link removed]

Bob
 
collie said:
I was expecting a charge but not €2, it sounds as if you think this charge is ok!
Click to expand...
No - I would certainly not be happy to pay €2 (possibly plus interest plus €40 SD) to get €10 from a card that I would not otherwise be using. However I would always check in advance what charges applied to using/activating a card in this way.
 
collie said:
I think I was a little naive in this instance......
Click to expand...

I wouldn't blame you...CC companies bombard people with credit card cheques and offers of loans and don't emphasise the small print.
Basically you have to realise that with credit cards if you deviate from "the norm" of using it just for purchases or don't pay it off in full every month you will be hammered. €2 doesn't sound too bad from what I've heard.
 
You must log in or register to reply here.
Back
Top