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Quick credit card savings question

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  • 01-05-2008 11:04am
    #1
    jollylee
    Registered Users Posts: 157 ✭✭


    I've been told that savings in a credit card account get very high interest. I'm currently getting 5% with an ulster bank esavings account but a friend reckons i'll get a lot more if I transfer the money from the esavings account into a credit card account.

    Sounded like hot air to me but said I'd ask anyway.

    Thanks for any replys in advance;)


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    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Are you sure there talking about a credit card account and not one of those current accounts that give a high interest rate up until 1500 euros etc?

    BTW, esavings interest rate is 4.4% aer.


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    #3
    Sangre
    Registered Users Posts: 12,168 ✭✭✭✭Sangre


    eh.. you must be talking about a savings account. nothing to do with a CC. No CC will ever give the user interest on their money they put in it.


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    #4
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Some credit cards used pay interest on positive balances - but it wasn't that much in the first place, and most have stopped doing it.


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