Cyprus-Forum.com

[k'n'G]

We have a Cyprus Bank account but are not sure about credit cards can anybody give any recommendations ? in the UK our credit card gives a cash back saving which you can claim, is there anything like this in Cyprus, we normally pay the card off each month but want to keep a credit rating so we need to have a card when we move over ?
any advice please ?

Many thanks

[LENA]

American express from Cyprus Bank is the best ... you save lots of money in restaurants etc...have lots of benefits...you need to find which one suits you better.

[webbo]

Speak to your card issuer in the UK. I still have my cards from the UK but statement is deliver to Cyprus address. Best if you can set up internet access as post is not the most reliable. I have found I use my credit cards far less here. Most Cyprus banks charge you for the priviledge of having there card.
Hellenic bank debit card has a point scheme which give you money off purchases at varios outlets.

I personally would hang on to your UK card for the credit rating alone.

[LENA]

Speak to your card issuer in the UK. I still have my cards from the UK but statement is deliver to Cyprus address. Best if you can set up internet access as post is not the most reliable. I have found I use my credit cards far less here. Most Cyprus banks charge you for the priviledge of having there card.
Hellenic bank debit card has a point scheme which give you money off purchases at varios outlets.

I personally would hang on to your UK card for the credit rating alone.

I disagree with that...I found that having a card in UK is far more expensive than having a card in Cyprus. I use my Cyprus card all over UK and Bank of Cyprus gives me so much benefits and do not charge me for using or having their card. The opposite. But I agree that you need to use the card you trust most

[k'n'G]

Hi Lena & Webbo, thanks for your help , we really want to keep a credit rating in both Uk and get one in Cyprus so if anybody has any other advice I would be grateful. Also do Cyprus have Building societies like the UK as we need somewhere to keep our nest egg/ rainy day money ! The Bank does not give interest on our current account so do not want to put much in that direction, we keep hearing about off shore accounts but are a bit worried about this again any advice would be great - Have a good weekend - cheers

[The Microphone]

Offshore accounts and investment can be good but they are really long term. If you're selling, rent and dont buy, and invest your money and live off of that- if you have enough..... then if you dont like it here, you'll be a free agent....or better still....dont sell your UK house until you have lived here for at least one year to see 'how it goes'. Thats the best advice i'd give. The you wont fall into the 'Cyprus trap'!

[Niki]

I used to have a Goldfish card in the UK which gives points but charges when you use it overseas. The Credit Card that is by far the best is the Post Office as it's the only one that doesn't charge commission and gives good exchange rates. This is recommended by many financial sites when you are overseas. Get this now while you still have good credit rating in the UK before you move.

I pay this off each month with my UK bank account online.

I also looked into having a Cyprus one which gave a rubbish limit. You have no proven track record here until you've been here for a while.

[Shipwreck]

Surely you have to pay for american express card Lena, or do they offer free to students??

Speak to your card issuer in the UK. I still have my cards from the UK but statement is deliver to Cyprus address. Best if you can set up internet access as post is not the most reliable. I have found I use my credit cards far less here. Most Cyprus banks charge you for the priviledge of having there card.
Hellenic bank debit card has a point scheme which give you money off purchases at varios outlets.

I personally would hang on to your UK card for the credit rating alone.

I disagree with that...I found that having a card in UK is far more expensive than having a card in Cyprus. I use my Cyprus card all over UK and Bank of Cyprus gives me so much benefits and do not charge me for using or having their card. The opposite. But I agree that you need to use the card you trust most

[LENA]

Surely you have to pay for american express card Lena, or do they offer free to students??

Speak to your card issuer in the UK. I still have my cards from the UK but statement is deliver to Cyprus address. Best if you can set up internet access as post is not the most reliable. I have found I use my credit cards far less here. Most Cyprus banks charge you for the priviledge of having there card.
Hellenic bank debit card has a point scheme which give you money off purchases at varios outlets.

I personally would hang on to your UK card for the credit rating alone.

I disagree with that...I found that having a card in UK is far more expensive than having a card in Cyprus. I use my Cyprus card all over UK and Bank of Cyprus gives me so much benefits and do not charge me for using or having their card. The opposite. But I agree that you need to use the card you trust most

Mine is a student card. Yes you pay for American express but not that much. I know that my mum and friends have it.

[Bill]

I disagree with that...I found that having a card in UK is far more expensive than having a card in Cyprus. I use my Cyprus card all over UK and Bank of Cyprus gives me so much benefits and do not charge me for using or having their card. The opposite. But I agree that you need to use the card you trust most

I'm sorry I find that hard to believe Lena ~~ especially with the Bank of Cyprus

Anything to do with Cyprus banks and their banking system is expensive.

After years of enjoying free banking in the UK I'm finding it very difficult to come to terms with the Cyprus banks greed in wanting to charge for everything.

I have a account with the B O C and the CO-OP and my wife has her account with the Hellenic all three charge for every single little thing involving transactions as do all the other banks .

It may be different for you as a student but I can assure you that the rest of us pay through the nose

~Bill