Cash withdrawal (Capital One Classic)

Johntea

If I withdraw £200 from a ATM using a Capital One Classic from what I can see that will cost £6 (Assuming I pay it back on the first statement).

Will this affect any 0% deals I may have on purchases etc?

Also if anyone can think of a clever way to shift £200 between the card and my bank account before Sunday please do advise!

thenudeone

You will pay the cash advance fee (£6 sounds about right) plus interest from day 1. There is no interest-free period on cash transactions.
Any other deals will remain in place as long as you keep within the terms, but using a credit card for cash advances is usually reported as part of the information held by credit reference agencies and can be interpreted as a sign of impending financial trouble, so you may find getting credit more difficult in future.

blacksta

Taking cash advances from a credit card is definitely not healthy for your credit record because it is recorded. I only found out it was recorded when i ordered paper version of my credit record - Definitely a no no for someone who wants to apply to the mainstream lenders.

Johntea

Thanks for the advice, you learn something new every day!

Could I do a PayPal Gift to myself then?

chanz4

yes you can, if your partner or friend has an account

Jib111

chanz4 wrote: »

yes you can, if your partner or friend has an account

Or if he has a second account?

c-m

Paypal will take 3 days. If you're doing that, just do a balance transfer instead and set the amount at £200

izools

You can't balance transfer to a current account with capital one. PayPal is the most sensible way.