Personal Finance guide

The credit cards Ireland has to offer are numerous. Credit cards, not just in Ireland are an extremely popular way to pay for just about everything. Credit card usage in Ireland has grown tremendously since 2000, the number of active credit cards has more than doubled from 1 million in 1997 to 2.3 million by 2007. The Irish Credit Bureau has strengthened the industry even more by creating the biggest credit agency in the country. The Bureau included just about every major financial institution reporting to it, so it is able to offer supremely reliable information.

Starting in 2009 the government has placed and annual stamp duty of €30 to be paid by consumers to be able to enjoy the use of credit cards. It is an annual duty that does not have to be paid again as long as the credit card holder doesn’t cancel an account to go to another. In order to avoid paying it a second time the individual must obtain a letter form the old credit card company stating that they already paid the duty for the year. This letter needs to be given to the new credit card company so they do not charge the duty again. Some believe this is being done to keep Ireland credit card usage under control. Although the government contends that the measure has been taken to the modern banking infrastructure stronger for all of Ireland’s occupants.

Most companies offer classic, gold and platinum credit cards to people based on their credit score supplied by the Bureau. Those who make a decent salary or are corporate clients can obtain a card with ease. Many of these banks also offer reward programs to stimulate the usage of their cards such as air miles, travel rewards and cash back. The ability to do banking online has also boost credit card usage. It has allowed people to pay for their regular bills, shop, book accommodations and even buy movie tickets from the comfort of their home computer. Banks have taken measures such as chip and PIN technology in order to protect their clients online. Also they have made secured platform to stop credit card fraud.

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Ireland had over an astonishing 2.3 million credit cards in 2007 and that number has grown substantially as we near 2010. Ireland citizens are one of the top users of credit cards in the world. Due to this there is a great deal of credit card offers available, all ever so competing.

I suppose the one to choose depends on your personal needs. There are a variety of credit cards out there on the market to be chosen from, but before you decide which credit card you want to apply for take time to choose wisely and consider exactly how you will be using it. Once your needs are clear you can start the process of comparing the different credit cards and the various deals that the credit card companies have.

There are credit cards aimed at those who wish to transfer the balance from other cards. Balance transfer credit cards are becoming increasingly popular as people try to save money on interest. These types of cards give you a low or zero percent interest rate on your balance that you transfer from your old card to your new card. These rates are going to be drastically different from card to card. Also how long you get this introductory rate can vary from provider to provider. Some will only provide the special rate for six months while there are others that provide the special rate for as long as you have the transferred balance on the card. Just remember that if you are ever late on a payment you will run the risk of losing your introductory rate.

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