£500 Limit Fees

OneLife_OneShot

I have £500 available on a credit card and might need to pay for some stuff for my job after Xmas. (It has to be in cash)

It says the cash withdrawal fee is 3% of the withdrawal or £3 minimum, so £480/100 x3 = £14.40 which would eat up £494.40 of my balance is this how it would work?

Cheers.

Edit - I plan to pay most of it back at the end of the month anyway towards my card.

[Deleted User]

Yes. But you will also pay interest from day one so that may take you over your limit during the month. Plus it's an expensive route anyway.

Could you use your card for all other spending and save the cash instead?

OneLife_OneShot

Its really the only available funds I'll have after Xmas until I get paid again so it might be the only option. Thanks anyway

balmk

Have you asked your bank if they can provide a temporary overdraft?

jonesMUFCforever

............Or delay the transaction just for a couple of weeks or even pay a deposit and the balance later?

opinions4u

Many credit cards restrict cash advances to a percentage of the limit.

90% is common. 50% isn't unheard of.