when is 10% really 10%

K

Kerak

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I have an AIB Gold Visa Card, has a few thousand on it, and I have a direct Debit to pay off 10% of balance monthly, and I usally pay off another 500euro at end of month as well.

June, I paid off 500euro in early June, and they only took 43 euro on the D/D, I looked back and they had done same in Feb., I rang, and was told if you pay any amount its deducted from the D/D amount, and if it exceeds the D/D amount they deduct nothing.( Unless you do it on the last or 2nd last day of the month) When I asked this to be amended, oh cant be, its in the Terms and condiditions, did I not read them, took 20mins for them to register my views as a complainet, which I should recieve an answer to in wrtiting( I wait with baited breath) needless to say, I shall move my balance to one of my other cards which is offering 0% for 6 months.

Any comment?
 
Sounds like a rogue computer program. I know a thing or two about those.
While what your asking for sounds very reasonable, if their software is configured a different way it genuinely is difficult to get it fixed.

I'd suggest cancelling your direct debit and having complete control yourself over how much you pay. I've had enough dodgy experiences with Standing Orders and Direct Debits that I've cancelled them all and I pay everything by Internet banking now.

-Rd
 
I would agree with DAltonr on the above. I only use DD's for my SSIA and my Mortgage payments and everything else I use internet banking or the post office. It makes it much easier to control as I found that the DD's would sometimes come out of my a/c a day before my funding was there and then I had to pay charges etc...
I find it much easier to keep control of the Credit Card by paying it off each month but you definately need to pay more than the minumum balance. If you intend to pay the balance off in the next 6 months then you should move to a 0% card as I did. I now like to keep the spend on the card to whatever I can afford to pay off in the month.
 
Re:Gold or Classic?

Slightly off topic. Wondering if there is any advantage in having an AIB Gold Visa Card rather than a Classic? I have the Classic, more credit than I could/would ever use and always clear it by due date. Does anyone know what the criteria are for issuing a Gold Card?

Agree with posters about avoiding DDs or SOs. Internet banking is so easy and you can always print off a copy of Visa or Current Account statement.
 
Re: Gold or Classic?

sherib said:
Slightly off topic. Wondering if there is any advantage in having an AIB Gold Visa Card rather than a Classic? I have the Classic, more credit than I could/would ever use and always clear it by due date. Does anyone know what the criteria are for issuing a Gold Card?
Click to expand...

I think the Gold used to have a lower APR than the Gold Classic.

Their new [broken link removed] has the lowest but you have to earn over 50K a year to be eligible.
 
Re: Gold, Classic or Mastercard?

Thanks M. Bond - you're right, APR on Platinum is < Gold which is < Classic. The same applies to Cash APRs. But (?) makes no difference if balance is always cleared. Another couple of questions if that's OK?

(1) Is an AIB Gold Card/Mastercard just one card or is Mastercard different?

(2) If a person has two Visa Cards, say Gold and Classic, is annual 40E charged twice?
 
(1) A Gold Card/Master Card is one Card. It's a Gold card and the Brand is Master Card. Similarly you could get a Gold Card provided by Visa. Think of your Bank as just an agent for Visa or Master Card. Each bank can tweak the APR and terms and conditions etc. You should almost never have to deal directly with Visa or
Mastercard.

(2) If you have two different Credit Card Accounts you will have two €40 charges.

In the example you gave a Gold Card and a Classic, I think you would need to have
two different accounts so there would be two different €40 charges.

If you close a Classic and open a Gold within the same year, you MIGHT get away with it. That was the intention of the last budget, but I don't know if it works.

-Rd
 
Thanks for that daltonr. So, do I apply to AIB to change current AIB Visa Classic for a Gold or Master Card? Whenever I vaguely suggested that to AIB Visa in Donnybrook, it wasn't encouraged and I didn't pursue it. It looks as if MasterCard is best for foreign exchange - got this from AIB's site:

AIB MasterCard FX transactions
MasterCard Europe Region: MasterCard - No charge. AIB - 1.75%
MasterCard Rest of World: MasterCard - 0.25%. AIB - 1.75%

Apart from FX (?) Is there any advantage to having a Gold Card?
 
daltonr said:
(1)

(2) If you have two different Credit Card Accounts you will have two €40 charges.

In the example you gave a Gold Card and a Classic, I think you would need to have
two different accounts so there would be two different €40 charges.

If you close a Classic and open a Gold within the same year, you MIGHT get away with it. That was the intention of the last budget, but I don't know if it works.

-Rd
Click to expand...

daltonr,

AKAIK if you cancel one Visa/Mastercard and change to another Visa/Mastercard within the year you will only be charged for the stamp duty once. At least I hope so - otherwise the bank lied to me (Although it wouldn't be the first time that happened.) I recently cancelled by standard permTSB Visa and got a permTSB Ice card instead. I was told at the time I would only be charged the €40 once.

However this remains to be seen.

Zapa.
 
You're right Zapa. I upgraded to a Gold Card today with AIB Visa and confirmed that I will not have to pay a second 40 Euro. All those who like to flash a wallet full of CCs have to pay 40E for each Card. Not sure if it works like that if you move to a different Bank though I can't see why not since it's a Government Tax.
 
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