Interest of cash withdrawal from ATM

Clickclocks

HI, sorry but I'm not sure about this.
yesterday I withdraw cash from the ATM with my Capital one Credit Card

I know they charge extra for that service but my question is: If I paid in full my previous statement

Do I will charge interest of the money I withdraw from day one? or only if I don't pay in full my next statement?

Thanks

stephane_2

From day 1 and until fully repaid.

opinions4u

Clickclocks wrote: »

Do I will charge interest of the money I withdraw from day one? or only if I don't pay in full my next statement?

They charge you a fee (usually) and interest from the day of the transaction.

This can also lead to residual interest being charged on subsequent statements, even if you settle your next bill in full.

So I would strongly suggest making an overpayment that is more enough to cover that additional interest.

(In fact, I'd suggest trying to repay the cash advance, fee and interest prior to receiving your next statement and never sticking your credit card in an ATM again - it's a bad idea!).

EDIT: I did mean exactly what YorkshoreBoy posted below - clear the whole lot and more! He just worded it so much better .

YorkshireBoy

opinions4u wrote: »

(In fact, I'd suggest trying to repay the cash advance, fee and interest prior to receiving your next statement...

Just to clarify, you should pay the entire balance down (including any purchases already made/yet to be posted to the account this statement cycle) and then, depending on the provider*, don't use your card again until you've received a zero balance/slightly positive balance statement.


* Some providers, especially Barclaycard(?), ignore the amount paid and shuffle the deck again if you make a purchase thereby hitting you with the 'payment hierarchy' hammer!