Is there anyway I can get Cash (interest free) from a 0% purchase credit card?

monsta2005

Apologies in advance if my question sounds naive, but I've little experience with credit cards. Ive just been granted a tesco credit card giving me 16 months interest free on purchases. Whilst I do not intend to make any big purchases, why I applied for it was to provide me with more spending money for a trip abroad. Thus I could do with extracting the credit available in 'cash form' without infringing the terms needed for such credit to remain interest free.
The ways I had thought I could achieve this are:

1. Make a large purchase and return this to the store (but im not sure I receive a cash refund?)

2. Contact friends/Family and go with them when they are making a significant purchase, ask for the cash whilst I swipe it on the card (obviously with their consent )

I know the second way would work (right?)... but would the first? Or will the refund be credited back to the credit card? Any other ways I could achieve this?

Thanks in advance

jackc12

Doubt the first would work, they normally return it the original payment method or give you store credits. The second option seems viable to me.

Probably worth checking if you can buy Euros direct from Tesco interest free from the card, M&S offer that but would need to have a proper look at the T&Cs for any catches.

Judder01

For security reasons, most (all?) shops refund to the same payment method. I'd be extremely surprised if any store did otherwise. The second would work, for example if one of your family members are buying anything just pay for it on your card and ask them for the cash. I'm not sure if this is entirely legal or not but I'm sure it would be fine for say 1 laptop at a few hundred quid.

Fruit_and_Nut_Case

Method #2 is often recommended here for people in your situation. With a Tesco CC you also have the bonus of receiving TPF Clubcard points on your friends'/relatives' purchases.

grumbler

IIRC, sometimes Paypal is mentioned in this context, but don't take my word for it.
Also, PP charge a fee for CC deposits.

izools

Or newer services like izettle can be used.

I use paypal sometimes to extract cash at purchase rates, but there is a 3.5% paypal fee as advised.

unimaginative_user_name

jackc12 wrote: »

Doubt the first would work, they normally return it the original payment method or give you store credits. The second option seems viable to me.

Probably worth checking if you can buy Euros direct from Tesco interest free from the card, M&S offer that but would need to have a proper look at the T&Cs for any catches.

Our local Tesco's has a bureau de change and it's possible to get foreign currency with a Tesco credit card with no fees or interest. However the rate you get is not as good as withdrawing cash from an ATM abroad with Halifax Clarity.

CLAPTON

you could of course use the CC for every single purchase you make (you don't have to think of 'large' purchses as lots of small ones quickly add up)

how much cash do you need?
what do you spend in an average month
how long before you need the money