Credit cards issued worldwide may have a number of similarities. These can be on how they apply interest on your purchases and your balance, how they compute finance charges and other fees as well as their requirements for people wanting to apply for a credit card among many others.
If you're in Ireland, however, owning even the best credit card is somehow different. Credit card owners in the country are subject to a government stamp duty each year and this is only done in Ireland.
This particular stamp duty is a form of tax which the government implements on certain legal documents. Such fee is often required when executing wills and conveyances. It is called as a stamp duty in reference to the past tradition of attaching a physical stamp on documents as proof that payment had been made.
Owners of Irish credit cards need to adhere to this government regulation to avoid penalties. The duty is currently at 40 per annum but this is only charged to one credit card account. Those with supplementary cards need not pay the stamp duty for each card they have under their principal account. So even if you and your spouse have separate cards but which belong to only one account, you will only have to pay one duty each year.
The bank from where you got your Irish credit card charges the stamp duty normally at about the same time every year. It should notify you of this particular fee that you have to pay at the most appropriate time.
If, for instance, you were in the process of changing your credit card provider and you've already paid your stamp duty for your old card, you will still be able to get a refund of that amount from your new card issuer. What's important is you inform your new bank or account provider about the payment you've made.
Do understand that this credit card stamp duty is totally different from the duty charged on other cards such as the debit laser and ATM cards. These cards are usually charged 10 annually for each card or that is 20 on a combined ATM and laser card. In addition, the stamp duty is applied on each card even if they belong to only a single account.
So if you're particular about your expenses, it is worth your time and effort to research first on the best credit card offers available before you make a decision. Shop around if possible to know which features benefit you.