Cash back on credit cards

cattattat

Sorry, I've tried searching for this, but it keeps bringing up 'cashback cards', so thought I'd make a post.

Please bear with me because (happily) I'm fairly new to credit cards.

If I withdraw cash from a cash machine with a credit card, I understand I will be charged, is this correct?

If so, if I go say to Asda, buy something and get cash back at the till, does this still count as a withdrawal, or is it a purchase?

Sorry if I sound dim, but thanks in advance for help

M_Thomson

Hi,

You can't get cashback in supermarkets at the till with a credit card. You can only get it with a debit card.

td_007

cattattat wrote: »

If I withdraw cash from a cash machine with a credit card, I understand I will be charged, is this correct?

Yes

cattattat wrote: »

If so, if I go say to Asda, buy something and get cash back at the till, does this still count as a withdrawal, or is it a purchase?

Cash withdrawal.

Cash withdrawals and credit cards do not mix!

CLAPTON

unfortunately 'cashback ' has two completely different meanings

-with a debit card, cashback means that some stores will allow you to withdraw cash without any additional fees (e.g. most supermarkets )

-a cashback credit card however means that when you use the card for purchases then the CC will credit you with a discount (typically 0.5% or 1%( which is called cashback.) .. not many of these left now...
but you can't withdraw cash at an ATM without paying fees and interest.