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Massive Credit Card Interest

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    #32
    stressedout
    Closed Accounts Posts: 7 ✭stressedout


    Tenshot wrote:
    Better still, make your partial payment as soon as possible after you make the purchase -- there's nothing to stop you paying in money in advance of receiving the statement, and it will further reduce the amount of interest that accrues. (You can even go one step further and deposit money before you make a purchase, which is a handy way to temporarily overcome a low credit limit.)

    BTW, I must concur with the positive comments earlier about AIB Visa customer service, who are invariably polite and helpful whenever I ring them with a query or problem.

    Be very careful about depositing money into your credit card. If you load your card with cash (e.g prior to holiday) and your card is stolen and used, you lose the money you loaded into the card. The CC company does not insure / reimburse against this. Best to keep money in an account and pay off immediately when you get back.


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    #33
    Hitchhiker's Guide to...
    Registered Users Posts: 3,322 ✭✭✭Hitchhiker's Guide to...


    stressedout wrote:
    Be very careful about depositing money into your credit card. If you load your card with cash (e.g prior to holiday) and your card is stolen and used, you lose the money you loaded into the card. The CC company does not insure / reimburse against this. Best to keep money in an account and pay off immediately when you get back.

    is this correct??

    jaysus - this thread is uncovering so much about credit cards. Shocking tbh


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    #34
    mcaul
    Closed Accounts Posts: 1,493 ✭✭✭mcaul


    Manuel wrote:
    I don't want to flog this to death, but if I understand correctly then, anything you pay in to your CC account goes towards paying off your existing debts in chronological order, so if what you've paid in just happens to cover 99% of one of the previous months' payments, you will get hit for interest on 100% of that payment ...? Unreal ....

    This just might be the final straw that forces me to eventually leave my bank, after so many idle threats .... if there's an alternative of course ....


    Absolutely correct - you will be charged interest on every pruchase at crddit cards interest rates from the day you purchased the item to the day you paid off the item unless you pay off 100% of your bill on time.
    The ONLY exception I have found is National Irish bank who only chage interest from the payment due date and then only on the items outstanding at that date. - Much fairer way of banking!


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