Cash On Credit Cards

lofidelity

Does anyone know if it's possible to get cash on a credit card without being charged a daily rate if I withdraw it? Or is there a way I can pay an individual, rather than a business, with my card and take advantage of 0% interest rather than taking out a loan?
Cheers.

normanmark

I think you'll be hard pushed to find anyone that won't charge a daily rate as well as a withdrawal fee on top of that.

NickX

lofidelity wrote: »

Does anyone know if it's possible to get cash on a credit card without being charged a daily rate if I withdraw it? Or is there a way I can pay an individual, rather than a business, with my card and take advantage of 0% interest rather than taking out a loan?
Cheers.

A number of rather special cards allow you to transfer funds direct to your Bank Account at the same rates as a Balance Transfer. This is known as a Super Balance Transfer (SBT) and is a way of getting cash directly from a credit card.

Cards with SBT capability include Egg, Egg Money, Post Office Card and any card administered by MBNA (including the Virgin range of cards).

In addition MINT periodically issue Credit Card Cheques that can be paid into a Bank Account at Balance Transfer rates. However, this is the least satisfactory option because the cheques cannot be ordered and unless you already have them, you don't know how long it will be until they drop through your letterbox.

YorkshireBoy

The M&S Sterling travellers cheque loophole looks like it's still open (0% for 6 months with a 1% fee).

http://www6.marksandspencer.com/pages/default.asp?PageId=FC&Product=CC

warfy

Hi, couple of quick questions, I can't seem to access my egg account from work as they think egg.com is a hacking site? ok...

1. How many times can I SBT from my Egg card?
2. Can I SBT when ever I wish.
3. If i was to SBT £500 to my current account to clear my OD, how much would this cost?

Cheers

YorkshireBoy

Egg Card (Visa) or Egg Money card (Mastercard)?

warfy

Hi.

Thanks for a quick reply - its a Visa card