Credit cards

stingray_316

Would like to know if there is any credit cards that do 0% interest for a certain period on cash before you get charged or do they all charge interest the moment you withdraw cash. Also what's the interest charge on average for cash withdrawels, if l was to draw £200 out how much interest would that be after a month.

YorkshireBoy

stingray_316 wrote: »

Would like to know if there is any credit cards that do 0% interest for a certain period on cash...

Yes, there are a couple that spring to mind. Saga (although you'll still be charged a fee...and you need to be aged 50 or above) and M&S (via their Sterling travellers cheques, but only during the 10 month intro period and again you'll be charged a fee).

Also what's the interest charge on average for cash withdrawels

Probably exceeds 20% APR.

if l was to draw £200 out how much interest would that be after a month.

At 20% APR, that would be £3.06

jd87

If it's cash you need have you considered applying for a super balance transfer card? It allows you to transfer money from your credit card to your bank account. You could then take the cash out of your bank. You will however pay a 3% fee on the balance transfer.

LeeSouthEast

Note that while 20% is a typical average, some cards charge upwards of 40% or even more. Check your actual T&C's, and see if there is a better way. Bear in mind as well that unless you don't have a balance on your card at all, your cash advance interest will cost you every single month until you pay off:

1. Promotional Balances
2. Promotional Transfers
3. Transfers
4. Purchases

(In that order or similar). Only then will 5. - Your cash advance - start being paid off. This is one of the most expensive ways to borrow money and will cost you dearly. Unless your life depends on it, don't do it ! SBTC's (as above) are a far cheaper way of doing it.