Transferring credit cards

C

CCconfusion

Guest
I've just been informed that if I wish to change Credit Cards I wiill be taxed twice. I paid my 40 Euro Government tax last Aprile & now I wish to cancel my card & get a card with another bank. i have no problems paying the tax again in April. However I've been told by AIB that upon cancelling my current card(BoI) I am liable for 40 Euro & then when I get the new AIB card I will have to pay 40 Euro again.
Is this correct???
 
Best thing to do is stick with your current card for now, cancel it before April and take out a new one in March. Otherwise you will pay €40 on the one you close now and the new one if you take it out before April.
 
and take out a new one in March
Click to expand...

Don't you mean 'take out a new one in April'? While this does save the stamp duty, the downside is that it also means you are without the credit card for a couple of weeks in the interim period.
 
Yeah - cancel the old one in March and get the new one in April or whatever the key dates are. There may well be no CC for a short period with this strategy. If this is not acceptable then I think you have to take the hit and pay two sets of SD.
 
Another consideration to take into account is that there's a chance that your application for a new cc in April may be rejected. Unlikely these days but it could happen particularly if you've a bad credit history.

You'd be relying on your original credit card provider to re-open your old cc account then.
 
CCs

Would I be right I thinking that although I paid the 40Euro CC tax last April if I was to cancel my card now & not get a new card I would have to pay 40 Euro.
 
€40

Yes.

The €40 you paid last April was for possession of the carrd during the year 1 April 2002 - 31 March 2003.

Another €40 will therefore be due this April since you have been in possession of the card during the period 1 April 2003 - 31 March 2004.

While the request for payment of this stamp duty will not normally be made until April, if you close your account before that they will ask you to pay it upon closure.
 
40 YoYos

But I thought Charlie only brought this tax in in the December 2002 budget? How come I',m paying a tax retrospectively?
 
not new

No, the stamp duty has been there for ages. But because it was much lower (IR£15 for credit cards, I think, and IR£5 for cash cards) people never really noticed it. Just like many people are still not aware they are paying stamp duty on every cheque they write - they just pay whatever it costs when they need a new cheque book. The govt really just drew attention to the stamp duty on cards when they doubled it.
 
Re: 40 YoYos

The cc stamp duty has been in place for years but it was only £15. In the December 2002 budget it was increased to €40 and that's when people started to take notice. As for its application retrospectively, I think this was brought in to prevent people avoiding the tax by closing accounts in March and re-opening them in April.
 
Re: 40 YoYos

Perhaps Charlie could make this wretched tax a monthly tax of €3.33 and it stop this endless debate.
ajapale
 
I recently opened an Amex Blue and the whole process from start to finish took well over 2 months, so I wouldn't bank on opening an account in a few days. I'm not sure what the issue was in the case of my card (other than not being able to find the file any time I rang, or possibly Christmas eventually getting in the way) but if I had closed my only account and was waiting for this new one I would have been in a bit of trouble.

z
 
Re: Myhome.ie charges

Hi
I paid approx 300euro to our estate agent when we were selling our house. That fee was for myhome.ie and the pictures that were taken and for the brochures to be made up.

As far as I know the average Joe Soap can advertise on myhome.ie. However I think it is more expensive than advertising on daft.ie
 
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