Need Advice on using new credit card for Travelling.

Anne1234_2

Hi All,

This question has probably been asked lots, but after searching the forum was unable to find my answer! So here goes;
A few months ago I was successful in obtaining an RBS Platinum card. with a limit of £4000.. Did a BT from my old HSBC card for the balance of less than £500 - to which my minimum payment is £5. Don't have any other debts which is great but the reason I applied for the card was so I could use it to go to Canada on a working visa. I'm also starting Uni in a couple of weeks and may use the card for any essentials I need... What I want to know is, i'll be using the card to buy flights, insurance, my actual visa, train tickets ect , but I'm also planning on using the card to draw cash out. I will probably be taking out up to £1000.. and to be honest, I probably will only be making my minimum payment until I finish uni and am in employment full time again.

I won't be maxing out the card, and have £1000 to put on straight away to bring the balance down - I have estimated I'll end up with -£2000 on the card roughly in total. How much will my minimum payment be on a balance of this amount with maybe £1000 ish being drawn out as cash?? I know cash withdrawals are charged at a different rate? Is it advisable for me to do this? Or should I soley use the card for Purchases only? I beleive the card's apr is something like 15.9%.
Thanks.

unimaginative_user_name

If you have any other way of withdrawing cash please use that. With most credit cards there is a roughly 3% cash advance charge and unlike purchases you pay interest from the day you withdraw the money until it's paid off in full.

CLAPTON

which card do you have?
was there any promotional interest rates?
I'm sure the details of interest rate for purchases and cash advances are shown in your T&Cs as are the minimum monthly payment.

cfw1994

We had a month I the US this summer. We specifically opened a Metro bank account (to get cash with no added charges) and a Post Office MasterCard (again,no fees added). The latter also conveniently had a 3 month 0% interest, so we can wait a while to pay off (still need to make a minimum payment)

Both worked a treat, recommended!

Also worth contacting them to let them know when you will be abroad...could reduce the risk of refusal!!

Cheers!