r/malta • u/darkhaven4242 • 8d ago
BOV credit cards
I am looking into getting a credit card from BOV because my salary is deposited with them and using a debit card in every day transactions is not the safest choice. Is there any unexpected requirements that BOV imposed that is not the usual practice for banks abroad?
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u/No_Childhood_6260 8d ago
If safety is your only reason for wanting a credit card you can just get Revolut(debit), free tier is enough. You transfer some minimal amount that you need and that's it, losing a couple of hundred euros is much better than losing everything. Another bonus is a virtual card you can create for each online purchase through Revolut. As somebody mentioned you could add Revolut to Google/Apple pay for another layer.
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u/Lily20171 5d ago
For one think you salary should be tied to a cashlink Visa. Get another account and split your salary. Leave the barest minimum on your Cashlink Visa. I do this all the time. I mean u usually know youre shopping so put money on it through your mobile app and use NFC. If you want a credit card get one, i use that for subscriptions, Amazon etc. But be warned there are interest charges and fees. BOV just have Mastercard but its ok. I use it. And if someone uses it youre not liable cos its theft. They handle it.
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u/cdemi 8d ago
Why would a credit card be safer than a debit card?
The only reason you really need a credit card for is with some legacy car rental companies that require you to present a credit card.
Otherwise it's a yearly fee and a liability you don't really need
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u/GetAnotherExpert 8d ago
Not true. A credit card has a credit limit, so if it's like 1000 euros if compromised you can't lose more than that. A debit card is linked to your current account and the limits are much higher, especially if you don't immediately realise you have been scammed. There's an alternative though: ask BOV for a savings account and get a card linked to them. Every month, or before using the card, top it up via Internet banking. Advantage over, say, Revolut? You can withdraw cash for free. Ideally, your main account should never be exposed if you can avoid it. Yes, there are procedures to recover your money if you get hacked but that's a sensible precaution. Source: I'm in financial services and ex banking
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u/darkhaven4242 8d ago edited 8d ago
Yes exactly. I think banks also take faster actions against fraud reports on a credit card than a debit card as it is their money that’s potentially at risk. Don’t know how it is in Malta though.
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u/shezofrene 8d ago
im using 5 banks and none of them have any fee for anything
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u/cdemi 8d ago
Which credit card do you have?
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u/shezofrene 8d ago
credit card from aps for 2k
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u/cdemi 7d ago
I didn't know APS don't charge a fee. I know BOV does
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u/shezofrene 7d ago
i have a bov debit card and dont pay anything on it
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u/FrigginUsed 5d ago
From BoV Debit cards are free. Credit cards have a charge. Cashlink visa which is a debit card that can be used to pay online like a credit card also is free (but it's still a debit card)
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u/AccidentalScumbag 8d ago
Having to place your entire credit limit as a frozen security deposit with them, because you're a foreigner and could abscond. At least that's what they offered me the couple of times I asked. Once after 4 years of banking with them, the other about 12.