Italian credit cards

missyb_3

I realise this may be a tough one! After becoming a dedicated money saver, I'm trying to encourage my sister who lives in Italy to be a bit more savvy with her finances. She's thinking of getting a bank loan (for new kitchen appliances) and I'm trying to persuade her to seek out a decent term 0% credit card. However I have no idea whether Italian credit cards even offer these kind of deals. Does anyone have any info. I'd be enormously grateful and my sister could hopefully end up several euros better off.
Thanks to anyone who can help.

italiastar

not sure, but from talking to people over there i don't think credit card deals are the sme as here - for instance you have to pay to have credit cards over there - they dont appear to be widely used either - look at the difference in queues at motorway toll booths - credit cards ones are usually close to empty. Could she apply for a UK card? and then spend in Italy?

M_Thomson

They don't use credit cards in Europe nearly as much as in the UK and US. Infact the UK has more credit cards then all of continental Europe combined!!! They tend to have annual fees and higher interest rates than we do as well. Could she not ask her bank in Italy about what selection of credit cards they do?

BARGAINS4ME

missyb wrote:

I realise this may be a tough one! After becoming a dedicated money saver, I'm trying to encourage my sister who lives in Italy to be a bit more savvy with her finances. She's thinking of getting a bank loan (for new kitchen appliances) and I'm trying to persuade her to seek out a decent term 0% credit card. However I have no idea whether Italian credit cards even offer these kind of deals. Does anyone have any info. I'd be enormously grateful and my sister could hopefully end up several euros better off.
Thanks to anyone who can help.

Not entirely sure but I think the MBNA Europe bank I deal with have Uk and overseas credit card customers, worth a ring or browse on internet site and ask.

M_Thomson

BARGAINS4ME wrote:

Not entirely sure but I think the MBNA Europe bank I deal with have Uk and overseas credit card customers, worth a ring or browse on internet site and ask.

Outside of the US MBNA issue credit cards in Canada, The UK, Spain and Ireland.

codetown

I doubt you will find a 0% credit card in Italy.
The best one to my knowledge (Fineco Visa) allows you the traditional ~30 days free credit (which means paying in full your debit ~1 month after the end of the month). But even then there is a card annual fee to cover (not too high; around 10-15 euros a year), so it is really seen only as a convenient way to have your finances organised and pay them out once instead of keeping them constantly updated.

Stoozing is extremly unlikely in Italy, as far as I know.

If you think using UK cards note:
a) most cards (all except Nationwide) charge you an extra 1.5-2.5% fee just for the benefit of using your card 'abroad' (in Italy).
b) the exchange rate might penalise you (you spend now and have to pay in 6 months by which time the exchange might mean you have to pay 2% more in euro terms!!!).

Given the very low base rates in Italy/Europe, I would say the hassle is not worth the potential gain of using UK cards. I guess she can get loans for reasonable rates (probably 5%), can't she?

missyb_3

Thank you all very much - very useful & much appreciated.