Getting cash from a credit card

hellsteeth_2

Hi everybody,

Obviously I am aware that if use my credit card in a cash machine to withdraw cash, the credit card company will charge me a ridiculous amount of interest on that transaction. But I was wondering, if I use my credit card in a supermarket to pay for a weekly shop, then get say £30 cashback from the till, will this be recognised by the credit card company and billed accordingly? Or will it the cashback just be charged at the standard purchase rate?

Thanks in advance!

chattychappy

Generally they won't let you do it. If they do, it should be treated as a cash advance though if it's a system aberration or a small shop where the bloke is "doing you a favour" then it might be treated as a purchase.

Given that on purchases the shop will be paying a commission, it would be costly for them to allow cash back as a purchase - not to mention that it is almost certainly against their merchant agreement.

Incidentally, getting cash on Abbey/Santander Zero and Halifax Clarity is not so costly as only interest is applied, not a fee.

thecableguy12

hellsteeth wrote: »

Hi everybody,

Obviously I am aware that if use my credit card in a cash machine to withdraw cash, the credit card company will charge me a ridiculous amount of interest on that transaction. But I was wondering, if I use my credit card in a supermarket to pay for a weekly shop, then get say £30 cashback from the till, will this be recognised by the credit card company and billed accordingly? Or will it the cashback just be charged at the standard purchase rate?

Thanks in advance!

I tried this a few years ago but the person in the shop said the system wont let me! only works if its a debit card not credit

CLAPTON

hellsteeth wrote: »

Hi everybody,

Obviously I am aware that if use my credit card in a cash machine to withdraw cash, the credit card company will charge me a ridiculous amount of interest on that transaction. But I was wondering, if I use my credit card in a supermarket to pay for a weekly shop, then get say £30 cashback from the till, will this be recognised by the credit card company and billed accordingly? Or will it the cashback just be charged at the standard purchase rate?

Thanks in advance!

why do you say the interest is rediculous? Have you checked this out


you can't get cashback at supermatkets on a credit card; only on debit cards

thecableguy12

yes i forgot my mate owns a pub in london and i used to go there with ma credit card and he would just swipe say 100 quid and give me the cash, those was the old days!