BOI:does depositing money into card thats negative balance have any fees?

patrickmrogan

im depositing money from betting account into BOI credit card, which has a negative balance - im wondering if since its negative balance wud there be any fee when deposition money into it from the betting account?

coylemj

When would your credit card ever have a positive balance? Can't see why you're asking the question. There are no 'fees' with a credit card account, just hefty interest every month when you leave a (negative) balance.

The J Stands for Jay

coylemj wrote: »

When would your credit card ever have a positive balance? Can't see why you're asking the question. There are no 'fees' with a credit card account, just hefty interest every month when you leave a (negative) balance.

I think you've picked it up backwards.

coylemj

McGaggs wrote: »

I think you've picked it up backwards.

That possibility occurred to me. Either way, no fees.

homer911

Most credit card companies get annoyed if you load up money on a credit card - simply put this turns them into deposit takers, requiring a banking license, and they are often not licensed to do this by the Central Bank. Bank of Ireland may be covered by their umbrella registration but credit card services are usually in a dedicated limited company

patrickmrogan

am i right in saying the only credit card fees are monthly fees and the stamp duty fee?

Thegalwayman

My credit card company currently owe me almost 800euro. 6k credit limit and 6800 available. Looking at alternative funding options for betting companies Revolut works for some but not all. Unfortunately bet365 isn't a supported merchant

3DataModem

homer911 wrote: »

Most credit card companies get annoyed if you load up money on a credit card - simply put this turns them into deposit takers, requiring a banking license, and they are often not licensed to do this by the Central Bank. Bank of Ireland may be covered by their umbrella registration but credit card services are usually in a dedicated limited company

Another thing that people don't realise is that you don't get the same fraud protection if you put your card in credit. I know personally of a person who loaded up their 1500-limit card with another 1500 (so 3000 "available") before travelling, but when the card was stolen / skimmed for about 2800 they were liable for the entire amount.

3DataModem

Thegalwayman wrote: »

My credit card company currently owe me almost 800euro. 6k credit limit and 6800 available. Looking at alternative funding options for betting companies Revolut works for some but not all. Unfortunately bet365 isn't a supported merchant

See my post above. If your card is stolen / skimmed you may have more liability than you think.

scheister

3DataModem wrote: »

Another thing that people don't realise is that you don't get the same fraud protection if you put your card in credit. I know personally of a person who loaded up their 1500-limit card with another 1500 (so 3000 "available") before travelling, but when the card was stolen / skimmed for about 2800 they were liable for the entire amount.

I spoke to my card company about thus years ago. Mt debit card was stolen before i went on holiday and wanted to load money onto to my credit card instead . I was informed if the card was stolen the company only covers their money.

beechwood55

*I was informed if the card was stolen the company only covers their money.*

This. You will not be covered for the extra money you have pre-loaded on the card. Don't do this!!!