Unexpected Cash Advance on Barclaycard Initial

UsetheFORCE

potatoking wrote: »

I did! I left a good couple of quid. As in....£2. I had a feeling it would be a bad idea haha, but I never expected a cash advance. Perhaps they should choose another name, as opposed to "CASH" advance. It seems rather odd to be charged such a thing for an internet payment, when no notes/coins were involved.



Thanks for the help, but it's ok, I just emptied it once. When I have a big enough float, I'm clearing all my cards and burning them. I don't need a mortgage as I should have enough for a house in 2~3 years, and I hope to move away from banks and their unethical ways altogether. Therefore, they can choke on my "credit history."

Again, thank you for the help :heartsmil

Quasi CASH????
E-Cash????

I agree but it really is effectively cash so we have been lucky that so many providers have treated it as a purchase for so long...

I don't mind paying interest from day 1 BUT like yourself I very much disagree with the fee for the advance since there isn't even a cost to them like loading a ATM....

Anyway, that is the way it is so we'll have to live with it!

meer53

Lots of cash withdrawals on a credit card are just as much of a red flag as gambling transactions.

osborn99

I have a initial card. When I used it to gamble I misread the t&c, sent a secure message to Barclaycard to say it was a honest mistake and could they waive the gambling fee. They did. Ask them, see what they say

potatoking

grumbler wrote: »

Good luck...
Is this plan based on the above 10-25% p.m.?
Bookmark this thread and tell us in 3 years how it is going...

No. Although, I suppose that would be possible. I'm a developer/engineer.

osborn99 wrote: »

I have a initial card. When I used it to gamble I misread the t & c, sent a secure message to Barclaycard to say it was a honest mistake and could they waive the gambling fee. They did. Ask them, see what they say

osborn you legend! That's what I want to hear. How did you misread the t & c? I can't even find them. What do you mean by secure message?

meer53

potatoking wrote: »

No. Although, I suppose that would be possible. I'm a developer/engineer.



osborn you legend! That's what I want to hear. How did you misread the t & c? I can't even find them. What do you mean by secure message?

If i were you and the charges are minimal at the moment, i'd suck this up and not bother contacting Barclaycard. All you'll do is draw attention to the fact that you're making gambling transactions.

You know now how it works, so you can avoid any more charges.

grumbler

potatoking wrote: »

No. Although, I suppose that would be possible. I'm a developer/engineer.

My question was based on the assumption that a high earner wouldn't need to resort to CCs for arbing.

redpete

potatoking wrote: »

Perhaps they should choose another name, as opposed to "CASH" advance. It seems rather odd to be charged such a thing for an internet payment, when no notes/coins were involved.

You're not buying any goods or services with the CC either - you are transferring money from your CC account into another account (the bookie) - seems fair to treat this as a cash advance.

cos_2

UsetheFORCE wrote: »

I have 3 credit cards and I only ever use my capital one card to make any betting transactions for this very reason! Even then, I keep it minimal as it looks bad on your credit file.

Do you mean it looks bad to the particular lender?

I'm pretty sure that purchase details or cash withdrawals don't show up on CRA reports, therefore, no other potential creditor would know that you're gambling or taking cash.

Could be wrong, though

chattychappy

potatoking wrote: »

Perhaps they should choose another name, as opposed to "CASH" advance. It seems rather odd to be charged such a thing for an internet payment, when no notes/coins were involved.

Yes, I rather agree with this, though of course it's always qualified in the T+Cs. I think the best way would be if it was made clear at the time of the transaction - eg on the signature line or on the website - that it will be treated differently. (Though no doubt that will lead to even more disputes.)

redpete wrote: »

You're not buying any goods or services with the CC either - you are transferring money from your CC account into another account (the bookie) - seems fair to treat this as a cash advance.

I disagree - with all transactions you are effecting a transfer of funds into the merchant's account. You can also argue that gambling is some kind of service. I agree there is a distinction, but it is a bit blurred.

grumbler

Apparently cash advances do show now and are likely to be interpreted negatively.