Credit Card yay or nay

Halo Kitty

I have a visa credit card issued from AvantCard, and a Visa debit card from PTSB.
For the past couple of yrs i have argued with myself if i should continue paying the €30 government stamp duty on a card i have not used the past 2 years..
I use my debit card to book flights, purchase goods etc..
So wondering what are the benefits of a credit card.. as i am thinking of cancelling my card tomorrow..
Anyone else thinking the same as me..
Thanks in advance..

Atlantic Dawn

The only real need I see for a credit card is if your renting a car most providers will insist on it instead of a debit card, otherwise the debit card will do pretty much everything else. The 40-50 day payment terms on the credit card can be handy if your stuck and don't abuse it.

dennyk

Fraud protection is a benefit of credit cards as well. Yes, your debit card also has protections, but the fact remains that someone who steals your card info can drain your bank account and leave you with no money to pay your bills until your bank sorts out the matter, which might well take a long time (and they may hit you with overdraft fees and the like on automatic debits or transfers in the meantime). With a credit card, even if it gets cloned or stolen, it's just a number on your credit card statement; you can just dispute the charges and not pay off your balance until they are reversed, and your actual money is never at risk.

Credit cards are also handy for car rentals, hotels, and other services that might put a large hold on your card. If you use your debit card for those, it may make a large amount of money in your bank account unavailable for some time, again leading to overdraft charges or bills going unpaid.

TL;DR: the credit card acts as a buffer between merchants/thieves and your actual money. Well worth the €30 a year, in my view.

choons

Also handy for if you lose your debit card. Granted they would generally be kept in the same wallet . . .

dev100

Your credit card offers a line of credit in an emergency whether abroad or at home which is invaluable . Credit card companies like to keep an eye on their money where as when it's your money it's not to the same effect. My attitude is I'll keep my money safe and use the credit card for online transactions and whilst abroad. I religiously pay my bill on time every month. In the grand scheme of things 30 Euro is minor

Halo Kitty

Thanks you to everyone for yer replies..
I can honestly say, the only time this credit card see fresh air is this time of year, so i can pay this government stamp duty..
So will wait for call back from credit card company today.. decision will be made...

coylemj

You're going to try to cancel the card on a Friday to avoid the €30 Govt. charge which they will slap on the account the next day?

Good luck with that.

Halo Kitty

Spoke with credit card company and between his advice and the advice received here, I have decided to hold on to my card and make use of it ( just remember to clear balance at the end of the month)
Thanks again..
Oh if i had cancelled my card today I was still owing the government the €30 tax..

Having a credit card in the back of your wallet and never using it, is the way to use it. It means if you need to make a large payment quickly then you have the credit there and your transaction will be very stress free.

I went on a business trip to california a while back. I get to the hotel after travelling for 18 hours and go to check in and my debit card is rejected. I'd already paid the deposit via their website but they wanted to take an imprint of my card to cover any damages and wouldn't give me my key until Id made the payment.

Turns out the bank was detecting that my card was in America and was blocking it. I had to wait in the bar with my suitcase for 5 hours until my banks telephone banking came online so I could get them to remove the block. Had I a credit card, things would have been much easier. I now have a pre-pay credit card which I use as the backup and I hope to get a full credit card soon.

jimmycrackcorm

dennyk wrote:

TL;DR: the credit card acts as a buffer between merchants/thieves and your actual money. Well worth the €30 a year, in my view.

Totally agree with this. I use my cc for all internet transactions. Even if your bank will refund fraudulent transactions, it'll take time where you don't have cash if your account gets drained before you realize.

harr

Deleted User wrote: »

Having a credit card in the back of your wallet and never using it, is the way to use it. It means if you need to make a large payment quickly then you have the credit there and your transaction will be very stress free.

I went on a business trip to california a while back. I get to the hotel after travelling for 18 hours and go to check in and my debit card is rejected. I'd already paid the deposit via their website but they wanted to take an imprint of my card to cover any damages and wouldn't give me my key until Id made the payment.

Turns out the bank was detecting that my card was in America and was blocking it. I had to wait in the bar with my suitcase for 5 hours until my banks telephone banking came online so I could get them to remove the block. Had I a credit card, things would have been much easier. I now have a pre-pay credit card which I use as the backup and I hope to get a full credit card soon.

Similar happened to us when in vegas...never had a CC got to hotel and they were insisting on one for security they wouldn't take a debit card...eventually they agreed on a 300 dollar cash security..I had hotel paid for full in advance as well...so now we have one just for holidays and the likes don't even carry it in my wallet...so OP always better to gave one..

Halo Kitty

[Deleted User] wrote: »

Having a credit card in the back of your wallet and never using it, is the way to use it. It means if you need to make a large payment quickly then you have the credit there and your transaction will be very stress free.

I went on a business trip to california a while back. I get to the hotel after travelling for 18 hours and go to check in and my debit card is rejected. I'd already paid the deposit via their website but they wanted to take an imprint of my card to cover any damages and wouldn't give me my key until Id made the payment.

Turns out the bank was detecting that my card was in America and was blocking it. I had to wait in the bar with my suitcase for 5 hours until my banks telephone banking came online so I could get them to remove the block. Had I a credit card, things would have been much easier. I now have a pre-pay credit card which I use as the backup and I hope to get a full credit card soon.

Had the same thing happen to me while travelling Asia, lucky that OH had his card.. lesson learnt, now I always contact my bank when I travel abroad giving them details of travel plans etc so my card won't be stopped and alerts of any unusual activity on the card..