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Interest on cash withdrawls from CC
andyfoz_2
Posts: 10 Forumite
in Credit cards
Hello
I called one of my credit cards today to try to pay off the cash element of the balance and was told that they could not do that. I would have to clear the lower interest earning balance first.
Is this right or should they do this for me if requested?
Any advice would be great, thank you.
Andy
I called one of my credit cards today to try to pay off the cash element of the balance and was told that they could not do that. I would have to clear the lower interest earning balance first.
Is this right or should they do this for me if requested?
Any advice would be great, thank you.
Andy
0
Comments
-
Unfortunately this is correct - it is down to the "order of payments" clause in your Terms and Conditions.
You will need to settle the balance in full to clear the Cash Advance balance.
It is a very sneaky trick but is correct as they have documented in the Terms and Conditions.0 -
yes that's how it works unless you have a nationwide CC.
It's one of the reasons why people says NEVER withdraw cash on a CC.0
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