Cash from credit card using Oyster card in London 13 August 2009 at 4:40PM in Stoozing: free cash from credit cards 3 replies 2.7K views

gregshukla

Hello

I need some cash urgently, and on trying to withdraw cash from an ATM using my Amex credit card it does not let me do so.

So, to get cash, I am doing the following:

1) Buying a London underground Oyster card with 2 pounds topup + 3 pounds deposit from a station.
2) Going to another station after a while and asking for a refund for this card (which is unused). I get 5 pounds back in cash.
3) I have done this once already, buying 5 oyster cards at one station, and returning them at the next station, so I got 25 pounds in cash using my credit card. I will pay these off in my next credit card bill at the end of September (I will have cash then after my salary, but dont have any cash just now).

My question is: Are my actions likely to cause any trouble? As far as I can tell I am not doing anything illegal...just buying oyster cards and then giving them back for a refund. I am not cheating London underground in any way, but just want to be sure no other trouble can arise.

Anyone has any comments?

Thank you so much!
~Greg.

squack

i feel sorry for you mate what a desperate situation

georgehere

normally cash taken out on your credit card is VERY expensive ... immediate interest charges plus a % charge lump sum as well

I wonder if doing it this way avoids some of those charges?

withnell

gregshukla wrote: »

I am not cheating London underground in any way

Well someone's paying the credit card charges....