Cash Machine Charges?

leeegglestone

I have these Credit Cards


Amex - Nectar Card
Barclaycard
Amazon Credit Card


Does anyone know if there are any charges for using these at Cash Machines?

I only use one of them regularly and so in theory I thought that if there were no credit card charges, I could withdraw money from one, insert into my bank account & pay the other one off. And continue this circle for each card. This meaning Im borrowing from each card without using my own money

Bokken_2

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1076883546,34894,

Have a look at this link and fine tune what it is that you want to achieve.

grumbler

leeegglestone wrote:

Does anyone know if there are any charges for using these at Cash Machines?

I only use one of them regularly and so in theory I thought that if there were no credit card charges, I could withdraw money from one, insert into my bank account & pay the other one off. And continue this circle for each card. This meaning Im borrowing from each card without using my own money

Yes all CCs charge at least 2% for cash withdrawals and, that is more important, don't have interest-free period on cash transactions unlike on purchases.
There is simpler way than you discribe to pay off one card with other card - Balance Transfer. However, usually interest on BTs is charged the same way as on cash advances, and there could be a BT fee similar to that for cash withdrawals.
The only way to play this game is by using some offers, usually introductory ones when interest rate on BTs is 0% or very low.

leeegglestone

If I get the 0% 10months Purchase Sainsburys Credit Card.

If they dont give you a good enough Limit that you want, like for instance, i need 4-6K to cover the difference in part x for a new car.

If they dont give me that kind of limit.
Do I extract the credit limit they have given me, by withdrawing it at the cashmachine each day until i reach the limit? oh wait, just looked it up, ur charged 2% per withdraw damn.

Also I cant balance transfer until ive spent on one card can I, i.e like on my amex nectar, and then BT to a 0% card.

But in the same way, the 0% purchase card is just as good in this scenario right?

I wondered if there was a way of getting the sainsbury card, before i move as i read that moving can affect your applications, and get the money into a savings account ready for when i need it.

leeegglestone

also wound the 0% 10months, start from your first purchase date or when you finally got your card?

grumbler

leeegglestone wrote:

also wound the 0% 10months, start from your first purchase date or when you finally got your card?

terms and conditions :

10 months from account opening

You can try paying for the car by this card, but majority of dealers charge extra for CC payments.