Credit Cards - What Transactions do and do not attract fees?

humfer

Obviously normal shopping (i.e. supermarkets, petrol, electrical shops, etc...) don't attract fees from the card provider as long as you pay the balance off each month. But I know cash, some gambling, foreign currency and even council tax payments get charged around 2-3% from the card provider. Is there a comprehensive list anywhere? I guess it does depend on the card provider to some deal.

The only reason I ask is that I am buying a new home and there are a number of 'extras' (carpets, kitchen upgrades, etc..) we are buying and the house provider will take payment by cheque, debit and credit card. I am therefore thinking of getting a 0% purchase card to stick these on and then pay the balance of after a year. Just a little worried that I go and stick them on a new card and get walloped with a fee. Any help much appreciated

mark-indebt

Most will charge a 2%ish balance transfer fee if you move it over.

Do not spend on the card after the 0% interest period is gone and do not spend on the card that you have transferred to at 0%.

YorkshireBoy

mark-indebt wrote: »

Most will charge a 2%ish balance transfer fee if you move it over.

Do not spend on the card after the 0% interest period is gone and do not spend on the card that you have transferred to at 0%.

Since humfer is not balance transferring, I'm not sure which question you're answering here Mark?


humfer,

The answer is it depends on the code the merchant applied to the transaction. The card provider then uses this code to determine the charges (if any) to be applied.

You'll have to ask the house provider (builder?) how he's going to treat your 'purchase'.

mark-indebt

I was just saying what to do after the 0% on the purchase offer ends, its nice to have 0% but it will end and need to think of the next steps while keeping an eye on the debts.

Try moneysupermarket.com for a full list of offers.

nomoneytoday

Carpets, Kitchen units etc are purchases, and should incur no additional charges

Wherryman

I use my Visa and MasterCard on regular basis to pay for council tax and to date no payments have been charged as cash transactions.

jamalfatty

The only way you will find this out with 100% certainty is to use the card, the merchant will have been given an MCC (merchant category code) by their merchant bank, then when this transaction comes through to your credit card company they will use it to classify the purchase.
You will have almost none to nil chance of finding out this MCC before it appears on your statement