Credit Card Questions

[realtriniman122]

Thinking about getting a credit card but I have no idea on how it works here; so I have some questions:

1. Can I add it to my PayPal? Adding a debit card simply does not work, always gives an error message.

2. Are there any limits as to how much money I can spend?

3. Do I have to add money to be able to spend money?

4. Is the money on the credit card TTD or USD?

5. If I bought something from an online game, would I have to repay in TTD or USD?

6. Are there any Monthly costs?

7. Do I have to sign a contract?

8. What would happen if I don't use the card?

9. Is getting a Credit Card worth it?

[pinks]

1)yea u can add it to ur paypal

2)yes there is a limit to how much u can spend..normally given in usd..there are fees for overspending i believe..

3)depends on if its a prepaid or jus normal card..prepaid u have to add money to spend..normal dey give u a limit and u spend and pay back accordingly..if u have internet banking its not so bad to pay back

4)the money is usually a usd limit but u can spend in both trini and us..it will use whichever currency the item is priced on..i believe..also u can withdraw money from an atm at a high rate doh..3% for rbl

5)if u buy online or shop online ud be spending in usd but u can pay back the trini equivalent based on forex rates for that day.

6)Most have a yearly fee of abt 25usd..its taken out automatically..however once money is owed on the card ul have to pay interest

7)yes more than likely ul have to sign a contract

nothing will happen if u dont use the card..jus make sure u pay ur minimum on time an u cool..if u owing 10k ttd ur mimimum monthly payment wud be abt $600(average)..not bad imho

9)yes the card is worth getting..just make sure u have ur head on when spending cuz its easy knowing all dat money is readily available and u can spend freely

Hope this helps and im open to any corrections

[gundeleroy2k]

Cool

[hong kong phooey]

Royal bank
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[adnj]

1)yea u can add it to ur paypal

2)yes there is a limit to how much u can spend..normally given in usd..there are fees for overspending i believe..

3)depends on if its a prepaid or jus normal card..prepaid u have to add money to spend..normal dey give u a limit and u spend and pay back accordingly..if u have internet banking its not so bad to pay back

4)the money is usually a usd limit but u can spend in both trini and us..it will use whichever currency the item is priced on..i believe..also u can withdraw money from an atm at a high rate doh..3% for rbl

5)if u buy online or shop online ud be spending in usd but u can pay back the trini equivalent based on forex rates for that day.

6)Most have a yearly fee of abt 25usd..its taken out automatically..however once money is owed on the card ul have to pay interest

7)yes more than likely ul have to sign a contract

8 )nothing will happen if u dont use the card..jus make sure u pay ur minimum on time an u cool..if u owing 10k ttd ur mimimum monthly payment wud be abt $600(average)..not bad imho

9)yes the card is worth getting..just make sure u have ur head on when spending cuz its easy knowing all dat money is readily available and u can spend freely

Hope this helps and im open to any corrections

2- There is an "over limit fee" which varies by bank. It typically ranges from US$15 to US$50.
5- Online shopping is typically at the currency of the merchant. You will be billed n the currency of the bank that issues the card. You will be billed at the prevailing exchange rate, plus a foreign transaction fee.
7- You fill out an application and upon using the card have entered into a "personal loan agreement" with the issuing bank. You can notify the bank in writing to close the account at any time but will be held liable for any fees or balances due plus interest on the balance until paid in full.
8- Accounts that are not used still incur an annual fee. Your account can be closed at any time if the bank determines that you no longer meet their requirements. Your account can be closed for late payment (you still must pay the balance) or dormancy (non-use of the card).
9- If you vacation or work outside of the Caribbean, a credit card is a must. You cannot rent a car in Europe or North America without a valid credit card. Most major hotel chains require a credit card to reserve a room world wide.

[iarmd1]

You can only spend the limit the bank places on the card so you can't overspend and every card has a different fee annually and certain cards are available according to your income like for e.g. Scotia charges me 600 a year for my aero and 600 and year for my gold and both have a credit limit of 100000k just keep your head on with a credit card I learnt the hard way 14 years when I now started working and had one with a 5000k limit that I maxed out and was only paying the min amount and well the min amount was only the interest so took a awhile to repay as pay was small back then. Now as soon as I use my card I pay back one time through online banking so no interest is charged. And also each card is different like my aero I get miles and the gold I get cash back so i use them accordingly.

[desifemlove]

Thinking about getting a credit card but I have no idea on how it works here; so I have some questions:

1. Can I add it to my PayPal? Adding a debit card simply does not work, always gives an error message.

2. Are there any limits as to how much money I can spend?

3. Do I have to add money to be able to spend money?

4. Is the money on the credit card TTD or USD?

5. If I bought something from an online game, would I have to repay in TTD or USD?

6. Are there any Monthly costs?

7. Do I have to sign a contract?

8. What would happen if I don't use the card?

9. Is getting a Credit Card worth it?

1 - Yes, but only if it's a VISA card.

2 - Depends on the provider/bank

3 - If it is a prepaid credit card, yes. If it's a traditional one, then you have a monthly credit limit which is the ability to spend per month. This depends on your income and credit rating.

4 - TTD, if issued by a T&T bank.

5 - Depends on the exchange rate. If you buy from a US-based website, then you would pay the TTD equivalent in USD in your account. This also includes the T&T online tax.

6 - Yes, if it's a traditional credit card. these are interest rates and interest for cash advances (where you draw money from an ATM).

7 - Yes. Any banking service is a contract, even for a basic saving accounts. There are rights and responsibilities on both parts.

8 - Nothing. They may contact you for inactivity, but even then some cards have a yearly fee.

9 - Depends. It's more convenient to use. But then I'd advise a prepaid card. A traditional credit card, where you borrow from the lender essentially, leads to reckless spending. This is one reason why the USA started the Great Recession, too much consumer debt, and credit cards are often a major factor of this.

I have a few prepaid cards, JMMB and FCB are good, as are Republic Bank and UTC. I think First Caribbean has one, they have a branch near Maraval.

[neilsingh100]

You can only spend the limit the bank places on the card so you can't overspend and every card has a different fee annually and certain cards are available according to your income like for e.g. Scotia charges me 600 a year for my aero and 600 and year for my gold and both have a credit limit of 100000k just keep your head on with a credit card I learnt the hard way 14 years when I now started working and had one with a 5000k limit that I maxed out and was only paying the min amount and well the min amount was only the interest so took a awhile to repay as pay was small back then. Now as soon as I use my card I pay back one time through online banking so no interest is charged. And also each card is different like my aero I get miles and the gold I get cash back so i use them accordingly.

You have credit card limit of 100000k= 100 million? Guess you meant to say 100k.

[iarmd1]

My bad 100k

[bassotronics]

i bought an item on ebay for 234USD, when i looked at the balance on my card, i paid an extra 13$USD. So in total i paid 247 in total for an item that cost 234 on ebay..... can some one explain to me this?

[lionofzion]

Did you pay to eBay directly or is your eBay account synced to your PayPal? If it's synced to PayPal then that will explain the higher cost. If not look over the shipping charges or conversion rates.

[bassotronics]

Yea I did pay to eBay directly, looked over my transaction, still confused

[sarahjo]

Does the yearly charges vary from Bank to Bank or it is a standard cost each credit cardholder has to pay.

[cressida_override]

i bought an item on ebay for 234USD, when i looked at the balance on my card, i paid an extra 13$USD. So in total i paid 247 in total for an item that cost 234 on ebay..... can some one explain to me this?

look over the transaction details and see if the seller is located in Florida, they have to add tax to all sales.

[InsanityReigns]

Royal bank
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International transaction fee was removed. Check updated rates sheet. They is still sheit though.

[desifemlove]

Does the yearly charges vary from Bank to Bank or it is a standard cost each credit cardholder has to pay.

Each bank has its own rates. You have to check out each to see who has what.

[sarahjo]

Does the yearly charges vary from Bank to Bank or it is a standard cost each credit cardholder has to pay.

Each bank has its own rates. You have to check out each to see who has what.

Thanks for the info, but IMO i think banks should be charging a uniform rate for credit card services. Just a thought.

[desifemlove]

they don't have to, since it's their own product. Banks don't charge the same interest for savings account or fixed deposits.

[nervewrecker]

You tried asking at the bank?

[triplef_17]

Anyone know the differences between visa signature and visa infinite credit cards?