When can file/score look good after using CC for cash withdrawal?

excalibar

Ok say I did cash withdrawal on my CC card, but by March I have a decent balance and want to get another CC card from a bank, what are my chances? and how can you improve your chances in getting a bank CC card?

Thrugelmir

Credit card companies report people that withdraw cash to the CRA's. All part and parcel of the data that's maintained. No one single factor should be ever be taken in isolation though. As whether a bank will will accept your application and what terms if it does. Is subject to a considerable number of variable factors.

One factor you can rely on though. Is that time heals. Keep a clean history and matters will gradually improve.

chattychappy

Oh I really wouldn't worry. I'm using CCs to get cash withdrawals all the time. In fact I withdrew VND2M on Clarity and VND8M on Santander Zero this afternoon (about £300 in all). Probably make 50 withdrawals a year, usually on Zero, Barclaycard or more recently Clarity. Took about £1000 out last week.

Seem to have no problems getting credit.

I think it is only a factor when combined with others - eg if it looks like you are making cash withdrawals just so you can pay off the minimums.

ICan'tStandIt

chattychappy wrote: »

In fact I withdrew VND2M on Clarity and VND8M on Santander Zero this afternoon (about £300 in all).

What is that in English?

YorkshireBoy

ICan'tStandIt wrote: »

What is that in English?

Vietnamese Dong.

YorkshireBoy

chattychappy wrote: »

Oh I really wouldn't worry.

But you're an international lawyer. OP hasn't got a pot to p two pennies to rub together (reading between the lines of his other thread on the subject).

ICan'tStandIt

YorkshireBoy wrote: »

Vietnamese Dong.

Thanks, but I still had to google it


Who the chuff has a currency with the word 'dong' in it! It's like something out of a 'carry on' film


And why would an international lawyer want to do a cash advance?

YorkshireBoy

ICan'tStandIt wrote: »

And why would an international lawyer want to do a cash advance?

Because it's generally the cheapest way of obtaining foreign currency abroad, certainly outside Europe and on two of his cards (I forget the deal with Barclaycard...maybe there's a 2.99% fee, but it's up to 56 days interest free like purchases?).