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Credit/Visa Debit card

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  • 08-10-2010 9:26am
    #1
    bourgeois
    Closed Accounts Posts: 25 ✭


    Hi,

    I applied for a CC from a well known 'Bank in Ireland' and was turned down. I got no letter stating why and had to ring my branch to find out and they had no info on why it was rejected.

    I have recently paid off a €5000 loan about 3 years early but have an overdraft of €500 which has pretty much become my new zero. Other than that I am debt free with savings of about €2500.

    I'm planning on travelling for a year from November and really need a CC. I don't want to be stuck in the middle of China looking for a bank link to take out a few yen to pay for a bed for the night. My original plan was to load the CC with my savings and whatever money I get in a travel loan.

    I'm pretty pissed with my bank. I have no credit problems other than the OD which isn't mentioned in my credit report. But I still feel I need the CC even if it only has a limit of €500. It's been over two weeks and still no letter explaining or even saying I got turned down. Is there anything else I can do in the few weeks I have left?

    I was looking at the Visa Debit card with Ulster Bank. I presume this works the same as an ordinary visa you just need the funds in your account? I just don't want to be in a situation where I find out the Visa Debit card isn't accepted when I'm out of the country.


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    #2
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Do you have a job right now? Because not having a job is one reason for being turned down. Also, not many banks will give you a credit card if you're about to go travelling around the world (with no income).

    Anyway, a Visa debit card should be accepted anywhere a Visa credit card is. Just be careful with the money you have in your account. Don't leave all your money in the current account the the Visa debit card works from. If it's stolen, and someone uses it, then you may not be covered for any loss. Keep your money in a savings account, and then use online banking to transfer adequate amounts to the current account when it's needed.

    Same warning for a credit card, if you manage to get one. Do not load the card up with all your cash, because you will not be covered for any fraudulent use of your money. Better to use the card's credit, then pay it off at regular intervals to keep your balance at zero. You won't pay any interest, and you'll be fully protected.


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    #3
    thelongfellow
    Closed Accounts Posts: 450 ✭✭thelongfellow


    ...


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    #4
    bourgeois
    Closed Accounts Posts: 25 ✭bourgeois


    Yeah I have a job-paid directly into my account each month. Moved most of account activity to Ulster Bank on Friday. Seems like they want to try and help their customers.

    Still have recieved no letter from BOI card services. Quality customer service right there.


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