Avant Credit Card Everyday + Cashback & €30 Govt tax paid

[Persia]

"Earn 5% cashback on groceries (up to €25 per month) at eligible retailers for the first 12 months*, and 1% cashback after that. That’s up to €300 cashback in your first year – ideal for treating yourself to something you’ll enjoy.

We’ll also cover the €30 annual government stamp duty**, saving you even more."

I'm with Avant and applied yesterday and approved today. No benefits with old Avant card. Seems a no brainer not to change.

https://www.avantmoney.ie/blog/finance/cashback-credit-card-groceries

 

[charlie007]

Sounds like a great offer.
However I have not been able to see the selected grocery retailers or am I missing something obvious?

 

[Persia]

Presumably main players, Aldi Dunnes Lidk Tesco M&S etc.

They don't list them on the link,.

They're supposed to send on a welcome pack, if it contains this information Ill post it here.

 

[Wandering_Dazed]

The main points I picked up on:

*Cashback applies at selected grocery retailers. Max. cashback €25 per month. 5% cashback valid for first 12 months; 1% thereafter. 0.1% cashback available all the time on other retail spend.

**Government stamp duty of €30 will be charged to the account and refunded on the same day. Variable interest rate 20.8%. Typical APR 22.9% (Annual Percentage Rate). Representative example: Assuming a credit limit of €1,500 drawn down in one transaction and repaid over 12 months in equal monthly instalments, total amount payable is €1669.00. The cost of credit is €169.00.

However I have not been able to see the selected grocery retailers or am I missing something obvious?

Selected stores outlined here in non consumer terms - https://www.avantmoney.ie/credit-cards/everydayplus#faqs

I get MC codes are used across trading countries and in theory apply to all Grocery Stores and Supermarkets....but I presume deviations exist.

Whereas AIB's Visa Click rates are:

Representative Annual Percentage Rate (APR) 13.8% (variable)​

Based on an assumed credit limit of €1500 and annual purchase interest rate of 9.11% (variable).

Taken from here.

Being frank, (not my real name ) am I wrong to just look at the interest rates on offer for CC's? I remember not being enthralled by the Aer Lingus CC either even though I try and fly with them for business whenever I can.

For someone who pays off their CC every month, should I be looking at the benefits over the interest rates? Or are the benefits attached to CC's aimed at luring in customers who at least occasionally do not settle the balance?

(Clubman here is your cue to link a previous discussion on same )

 

[ClubMan]

am I wrong to just look at the interest rates on offer for CC's?

If you clear your credit card balance each month before interest accrues and don't use it for cash advances without preloading it with cash first then the interest rate is irrelevant.

 

[Fortune]

am I wrong to just look at the interest rates on offer for CC's?

Well Frank, you'd be wrong to look at the interest rate of you aren't going to pay any interest.

 

[charlie007]

If you clear your credit card balance each month

You can of course set up a direct debit from any current account to do this.
You are then availing of 4-7 weeks free credit.

 

[balders93]

Thanks I've signed up. 1% grocery cashback from Year 2 onwards, no monthly fees and a stamp duty refund every year.

 

[CharlieMac]

Or are the benefits attached to CC's aimed at luring in customers who at least occasionally do not settle the balance?

That's how I'm looking at this. I don't have big spending so the cash back available to me, especially from year 2, would likely be wiped out by not settling a balance.

You can of course set up a direct debit from any current account to do this.

But how do you know in advance how much of a balance needs to be cleared by the DD? Realistically wouldn't you have to check your CC balance and then go in to your online banking and manually do a transfer?

I'm sure this could work for bigger spenders and big families but seems like too much effort to me. A few high interest rate penalties and they're making money out of me.

 

[Corola]

You can set up a direct debit to make automatic monthly payments from your bank account for either the minimum payment or your full statement balance.

 

[Dr Strangelove]

I’m an Avant credit card customer. I called them today and asked them to switch me to the Everyday+ card. They said not possible and that I would have to apply separately but could keep existing card.

 

[charlie007]

But how do you know in advance how much of a balance needs to be cleared by the DD?

The same way you ensure there are funds in your current account for mortgage, utilities etc.
You should get a credit card statement at least 3 weeks before payment is due.
Even with this if anyone finds themselves often paying CC interest, then I'd suggest tearing up the card.

 

[MelF]

What’s the initial credit limit?

 

[ClubMan]

But how do you know in advance how much of a balance needs to be cleared by the DD?

DD is a variable amount for the bill to be paid. Are you confusing it with a Standing Order which is for a fixed amount?

 

[Persia]

What’s the initial credit limit?

Depends on your income, once I completed the income section and application it said my limit would be 12k (currently have this with Avant anyway)

Used to be 15k but they reduced it a few years ago. Never come remotely close to it & clear it ever month. Free overdraft.