credit card cash

Hi
I need to draw out cash Today and was wondering if anyone can help me

I have 5 credit cards but never used for cash before, I need to pay £500 out today but dont know how much I will be charged for taking cash out, this is only needed for 3 weeks and I will be able to pay it back then. is there an easier way to get the cash or am I getting myself into more debt needlesly?

please help!

Replies

  • CannyJockCannyJock Forumite
    3.8K Posts
    Hi
    I need to draw out cash Today and was wondering if anyone can help me

    I have 5 credit cards but never used for cash before, I need to pay £500 out today but dont know how much I will be charged for taking cash out, this is only needed for 3 weeks and I will be able to pay it back then. is there an easier way to get the cash or am I getting myself into more debt needlesly?

    please help!

    Withdrawing cash on a credit card is the worst thing you can do if your planning on gettingrich. Besides the fact you can't withdraw £500 from an ATM in a single day.

    Look at the back of your statement and it'll tell you about cash advance fees and cash advance interest which is charged immediately with no interest free period.

    If you've already got a balance on the card, look at the allocation of payments and understand that you will have to clear the full balance card of the card before you'll repay the card advance and turn off the interest payments.

    Basically if you're relying on the credit card for cash then you don't have £500 today.

    Oh yeah and this is nothing to do with stoozing ;)
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    CannyJock wrote: »
    Besides the fact you can't withdraw £500 from an ATM in a single day.
    Whilst I agree cash withdrawals are a last resort CJ, you can in fact get £500 from an ATM in one go with some cards (Egg Money for example). :)
  • thanks folks,
    I could only withdraw 300 and managed to borrow 200 from a friend, will have them both paid in two weeks so hope I haven't cost myself a fortune but "needs must".
    I was desperate this morning when I posted question and dont know what stoozing is and my name was cut short, should have read
    gettingrich NOT!
    MANY THANKS
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