Cancelling Halifax Credit Card Question

MargeS22

I just rang Halifax to cancel my credit card and the girl on the phone said that it would cost me 30 euro to cancel it. Is this right? I couldn't see anything about a cancellation fee on the Terms and Conditions. Has anyone any experience with this.

Sangre

Its not a cancellation fee. Its the 30e stamp duty for using the card after April.

MargeS22

I have already paid the stamp duty on this card and she told me it was a cancellation fee

Lizzykins

That looks like the card duty alright. I got my B of I credit card statement last week and it said on the top " 30 govt duty due April each year and also on closing the account. The 30 euro is for the year up April and if you use the card at all after that you will be charged on closing the account. That's what I'm led to believe anyway.

Sangre

If you paid it in april you paid it for the year april 07 - april 08. Now because you're only cancelling the card in october you have to pay 30e for the year april 08 - april 09.

If the person at halifax didnt get this she is terrible at her job.

Eurorunner

Lizzykins wrote: »

... and if you use the card at all after that you will be charged on closing the account.

So its only chargeable if the card is used? Does that mean that now that I've switched over to Halifax Debit Card, I don't even need to go to the bother of cancelling the Credit Card - and can just hold on to it (in case debit card isn't excepted somewhere) - with no government duty applying?

MargeS22

I haven't used the card in over a year. Does that mean that I still have to pay the duty. The person on the phone said it was a closing of account fee. She mentioned nothing about the government levy

fifib

im just about to cancel my BOI credit card as I applied for a Halifax credit card instead...will i be charged for cancelling?

brian_ire

fifib wrote: »

im just about to cancel my BOI credit card as I applied for a Halifax credit card instead...will i be charged for cancelling?

As stated above there is no charge for canceling a credit card. You will have the pay the government stamp duty with BOI before the will close the account. Request a letter from BOI stating that you paid this stamp duty with BOI for the year and then forward a copy to Halifax and you will not have to pay the stamp duty in April with Halifax.

Hope that helps,

Brian

Sangre

MargeS22 wrote: »

I haven't used the card in over a year. Does that mean that I still have to pay the duty. The person on the phone said it was a closing of account fee. She mentioned nothing about the government levy

Get onto the bank, they may be able to get the fee waive. Hopefully when you get back onto them you'll speak to someone who knows its not a cancellation fee.

If it was a cancellation fee then you'd actually be paying 60e as you'd still have to pay the 30e government stamp duty.

stepbar

fifib wrote: »

im just about to cancel my BOI credit card as I applied for a Halifax credit card instead...will i be charged for cancelling?

Don't waste your time canceling, at least if you are go for a proper card like the click card.

CSC

You could try but I would be nearly 100% sure that bank won't cancel the gov tax. Even though you didn't use the card, you kept the account open so you are liable.

Davy

CSC wrote: »

You could try but I would be nearly 100% sure that bank won't cancel the gov tax. Even though you didn't use the card, you kept the account open so you are liable.

If the credit card account is closed never having been used, no stamp duty is payable provided that you close the account in the same period as it was opened. If you have used your card and you close your account during the year, you will be charged.

If you are changing to a different credit card account you don’t have to pay the duty more than once. When you are closing the account your card issuer will give you a letter of closure stating that you have paid your stamp duty for the year. If you give this letter to your new card issuer, you will not be charged stamp duty by them for that year. It is important not to lose the letter. You can change account as often as you like during the year without paying extra duty, as long as you transfer a letter of closure between the card issuers each time.

brazen_dude

MargeS22 wrote: »

I haven't used the card in over a year. Does that mean that I still have to pay the duty. The person on the phone said it was a closing of account fee. She mentioned nothing about the government levy

u still have to pay the govt duty even if havent used the card... .as long as the credit card account is open, u have to pay the duty

Davy

brazen_dude wrote: »

u still have to pay the govt duty even if havent used the card... .as long as the credit card account is open, u have to pay the duty

See my previous post, the part in Bold

If the credit card account is closed never having been used, no stamp duty is payable provided that you close the account in the same period as it was opened.

Jet Black

davton wrote: »

If the credit card account is closed never having been used, no stamp duty is payable provided that you close the account in the same period as it was opened. If you have used your card and you close your account during the year, you will be charged.

Thats true.. but if a card is acativated and not used for two years stamp duty is payable each year.

For example. I get my card, two months later still have not actavated or used it I dont have to pay stamp duty if I close it.

If the credit card account is closed never having been used

But if I had a card back in 2005 used it once but never again I have to pay the stamp duty every year.

Its very highly unlikely that a bank will waive the GSD. Unless its a mistake.

Davy

heymcflyx wrote: »

Thats true.. but if a card is acativated and not used for two years stamp duty is payable each year.

For example. I get my card, two months later still have not actavated or used it I dont have to pay stamp duty if I close it.

But if I had a card back in 2005 used it once but never again I have to pay the stamp duty every year.

Its very highly unlikely that a bank will waive the GSD. Unless its a mistake.

Yes thats right, but has the OP the card that long? I didnt think Halifax had a credit card that long, thats just a guess tho, i should have checked when they brought it out

channelsurfer

i cancelled the halifax card this year and went with permanent tsb due to halifax increasing their cash advance rate to over 15% from 11%. I paid the 30 euro and they issued me a letter saying stamp duty was paid up to the year ending 1st april 2008. I had countless arguements with them over this saying it should say stamp duty was paid up to year ending 1st april 2009. They insist they are correct and I passed it onto Permanent TSB. anyone know if they are correct???

Davy

channelsurfer wrote: »

i cancelled the halifax card this year and went with permanent tsb due to halifax increasing their cash advance rate to over 15% from 11%. I paid the 30 euro and they issued me a letter saying stamp duty was paid up to the year ending 1st april 2008. I had countless arguements with them over this saying it should say stamp duty was paid up to year ending 1st april 2009. They insist they are correct and I passed it onto Permanent TSB. anyone know if they are correct???

The duty is payable on April 1 for the preceding year. The tax year for the stamp duty begins on April 2. So if you closed it after april you have to pay it, but on closing it, get a letter of closure which you give to TSB so you wont be charged again by TSB.