drawing money on a card- yes i know

wiggler

got an interest free HSBC card however had a family emergency, my dad isnt the best with money and he wrongly calculated that his rent was paid til end of the month, it wasnt and he is now faced with an irate landlord, what worse is that because he is embarrased he is burying his head in the sand so i have offered lend him the money ( i will get it back plus the interest- all the interest)

i know this is far from ideal but i need the money asap given the situation and i dont have the money in savings ect


now i have about 500 quid under my limit and i need to draw £270 the only thing is i cant find what my cash limit is (never drawn cash on it only transfered a balance) does anyone know if this is possible?

cooltt

it's very simple you go to a cash point and try to get the cash.
Cash is usualy 95% of your credit limit but every card is different.

wiggler

thanks as i said far from ideal but i will get it back

Ritchie74

Don't forget you will be paying interest every month on the cash element until all of your BT balance has been paid back. Also a cash fee will be charged (usually around 3% of withdrawal amount.

Do you (or any other family members) have a card at zero balance as taking cash out on one of these instead will save a lot of money (assuming you are not due to pay off youR BT soon)?

Could your dad request a temporary O/D at his bank?

CannyJock

wiggler wrote: »

now i have about 500 quid under my limit and i need to draw £270

You do know that you'll be charged interest on the £270 from day 1 (no interest free period on cash advances) and that most cards (including HSBC) allocation of payment rules mean that you will continue to be charged interest on the the £270 until you have cleared your balance in full (and even then, there's residual interest for another month).

It's not getting the £270 back you need to think about, it's whether you can clear your card in full back to a nil balance to stop the interest from clocking up.