Cash from credit card?

vanquis

I have a credit card with 0% on purchases (for months).

I am in need of around £1000 cash. What's the best way to get cash from this credit card without the 2.5% withdrawal charge, etc?

I was thinking maybe buying John Lewis vouchers or similar with credit card, then buying a pack of cigs with the voucher and getting the (big) change as cash.

Is there a more stress-free way?

Maybe I am thinking out loud and should just pay the 2.5% withdrawal charge (£25).

sharpy2010

I think you may just have to swallow the £25 charge, to be honest if you went the John Lewis route, then you'd end up paying that in packs of fags anyway...

InsideInsurance

It would be a £25 fee, interest from day one and normally much higher than the purchase interest if you withdraw cash.

PayPal can be used with a friend/ family member but of cause you need to trust them to give you the money and you lose the PayPal fees of 3.4% + 20p but at least it should count as a purchase

vanquis

InsideInsurance wrote: »

It would be a £25 fee, interest from day one and normally much higher than the purchase interest if you withdraw cash.

yes, thats why i was taking the john lewis vouchers route. I lose not only £25 but also get charged huge interest.

paypal is an idea - but then ebay+pp combo will charge the friend/family fees on the other end as well.

Tixy

There would't be ebay fees at all, you'd just send the money direct with paypal - and the fees at the friend's end would be the only fees you would suffer - there would no fees for making the payment from your side.

I doubt very much John Lewis or any other department store would give you 'change' from a gift card in cash - they simply deduct the amount you have purchased and leave the rest on a gift card.

If there was an easy way to do it card issuers wouldn't be have much success in persuading customers to pay fees on balance transfers and money transfers.

Could you apply for another card that allows super balance transfers (and take the hit on the transfer fee)? Cheapest deal I think would be a travellers cheque/super transfer from Tesco at 1%

vanquis

Tixy wrote: »

There would't be ebay fees at all, you'd just send the money direct with paypal - and the fees at the friend's end would be the only fees you would suffer - there would no fees for making the payment from your side.

I doubt very much John Lewis or any other department store would give you 'change' from a gift card in cash - they simply deduct the amount you have purchased and leave the rest on a gift card.

If there was an easy way to do it card issuers wouldn't be have much success in persuading customers to pay fees on balance transfers and money transfers.

Could you apply for another card that allows super balance transfers (and take the hit on the transfer fee)? Cheapest deal I think would be a travellers cheque/super transfer from Tesco at 1%

thats actually a good idea. I can certainly take a new card out cos I dont have any debt on the previous card (and not other credit cards at all).

Could u point me to a link which gives more details about these super transfer cards?

Tixy

Here - http://www.stoozing.com/sbt.php
(some call them money transfer cards, but they are the same thing).

InsideInsurance

vanquis wrote: »

paypal is an idea - but then ebay+pp combo will charge the friend/family fees on the other end as well.

No eBay charges, you can simply us the send money option or possibly better get your friend to use the request money option (putting it down as for services rendered or such) and then you pay it - I dont know if there is any difference in the fees with the two options but certainly no eBay fees