TSB credit card question

November_Rain

Hi,

I recently made a £5 bet on the Six Nations via Ladbrokes online, using my TSB Mastercard. Now I'm not much of a gambler at all, this was a very rare occasion for me, so little did I know it would be treated as a cash advance by TSB. It was only when I checked my statement online that I noticed I'd been charged a £2.50 cash fee.

I rang up TSB to get a proper understanding of where this fee came from and the assistant explained to me that gambling transactions are treated as cash advances and that I would also incur a small interest charge when my statement is due. However she was not able to tell me exactly how much the interest would be as the statement was not ready yet, but she did go over the standard rates which now escape me.

Has anyone here paid interest on a cash advance with TSB before? How much did you pay? I'm worried that I'm going to end up with a hefty bill now. I've had a look on the TSB website but I want a more clear understanding. I have the classic credit card BTW.

Sorry if I'm being obtuse. Lesson learned though, don't gamble. :beer:

P.S. I have now paid the CC off in full.

YorkshireBoy

The cash advance interest rate will be shown in your T&Cs.


You will see that, from...


£7.50 x cash advance monthly rate / 31 x number of days the balance existed


...the interest will be pennies (eg £7.50 x 1.385% / 31 = 0.335p per day)


You may find you have a small amount of residual interest to pay next month (even fewer pennies!)...just to save you from coming back to ask "why?".

Fruit_and_Nut_Case

Just to add that it's not just TSB that do this. Most, if not all, providers take the same attitude.

YorkshireBoy

Fruit_and_Nut_Case wrote: »

Just to add that it's not just TSB that do this. Most, if not all, providers take the same attitude.

However, quite a few, whilst charging cash interest, don't add a cash withdrawal 'fee' for gambling...meaning you're only 'stung' the once!