transfer cash to and from credit cards

beattie

hi
i am going on holiday for 5 weeks and i will be using two credit cards post office and nationwide . I intend to transfer cash onto both cards before i go so i dont have to worry about any bills that need paying while i am away . I bank with TSB . i also want to know how i could transfer back to my bank any money not used form both cards when i come home How do i go about it and is this the best solution regards Beatrice

dylanuk

You can't really do either - a positive balance risks being returned, and transferring the money back to a current account is likely to carry fees - around 3% - that's if it's allowed at all (Post Office do but charge 2.98% fee).

You will have an up to 56 day interest free period on purchases - which means you'll have an additional 25 days (which is just over 3 weeks) after the date the statement is issued to make a full payment and not be charged any interest.

Obviously you can't really time your holiday starting with your statement issue date - but if you make sure you have an empty balance - and clear previous/current statement - when you leave, you should have enough time to clear the balance on your return.

If you knew the timing of your holiday/statement due date weren't going to work - you could always phone your credit card company from abroad and make a payment with your debit card over the phone? It's not ideal - but would save any late payment fees.

Tixy

Or could you set up an extra standing order to pay part way through your holiday? Or set up the DD to pay the balance in full (which will happen after the statement is sent, mid holiday).

To do the sort of thing you would like to do it sounds like you would need to look at a prepaid credit card.

dylanuk

Or set up the DD to pay the balance in full

I can't believe I forgot about that!!