Credit Balances - Cash Withdrawal?

alcester

I'd be very grateful for any thoughts on the situation below...

I have a Halifax Clarity credit card which I use only for foreign transactions (never cash withdrawals) abroad. I settle the monthly statement in full on the due date.

Due to an error on my part, I paid my recent bill twice and now have a credit balance of £258. Is it possible to simply withdraw the majority (£250) of this via an ATM and not be charged the usual daily interest for cash advances?

If this is possible, could having a credit balance be a cheap way to access cash via an ATM when abroad? (Rather than open an account with Metro Bank or Norwich/Peterborough for their pure fx no-fee Debit Cards).

Thanks in advance!

YorkshireBoy

alcester wrote: »

Is it possible to simply withdraw the majority (£250) of this via an ATM and not be charged the usual daily interest for cash advances?

Possibly, depending on any purchase transactions already in the pipeline.

If this is possible, could having a credit balance be a cheap way to access cash via an ATM when abroad?

Possibly, although I wouldn't risk breaching condition 16.9 myself...especially with such low charges involved (circa 0.5% for a balance carried for 2 weeks) and also considering what I'd do if they blocked the account (as has been known to happen).

StuC75

Dont use the ATM, contact the credit card company and ask that they either refund by Cheque, or if one of the payments was be Direct Debit say? ask that it be refunded by that method (could be quicker)... Cash advances will carry the fee regardless of balance

YorkshireBoy

StuC75 wrote: »

Cash advances will carry the fee regardless of balance

What fee? It's a Halifax Clarity card.

alcester

Thanks YorkshireBoy. I've just read 16.9 in the T&C's and deliberate credit balances would indeed put me in breach.

Off to Metrobank for an overseas cash solution...

Many Thanks!

chattychappy

alcester wrote: »

Thanks YorkshireBoy. I've just read 16.9 in the T&C's and deliberate credit balances would indeed put me in breach.

Off to Metrobank for an overseas cash solution...

Many Thanks!

You need overseas cash solutionS. I'm sitting at Heathrow now with 3 fee-free cards and a few other backups.

The cost in terms of interest of using Clarity are minuscule as YB pointed out. Good idea about getting Metrobank - but don't worry about drawing cash on Clarity.

These cards are very prone to getting blocked by trigger-happy fraud prevention systems - so the more cards the merrier (within reason).