We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Cash balance and purchase balance on Barclaycard
p1an0player
Posts: 1,196 Forumite
in Credit cards
A few weeks ago I withdrew £200 cash on my Barclaycard (naughty I know).
Although I knew I would have to pay a cash advance fee, I decided to pay off the whole bill the next day to avoid interest on the cash advance (as the interest would be payable from the date of the transaction not the date of the bill).
It took a few days for the cash withdrawal to be posted on my account.
As I had paid off the whole bill, my purchases balance was -£200 (ie in credit), but my cash balance was £200 (ie owed to them). So the net result was a balance of £0.
I have contacted them and they are going to manually reset it. But I am concerned that if I had made purchases, it would have reduced the credit on the purchases balance and the cash balance would have stayed the same (which could have meant me paying interest on the cash balance).
Has anyone else experienced this?
Although I knew I would have to pay a cash advance fee, I decided to pay off the whole bill the next day to avoid interest on the cash advance (as the interest would be payable from the date of the transaction not the date of the bill).
It took a few days for the cash withdrawal to be posted on my account.
As I had paid off the whole bill, my purchases balance was -£200 (ie in credit), but my cash balance was £200 (ie owed to them). So the net result was a balance of £0.
I have contacted them and they are going to manually reset it. But I am concerned that if I had made purchases, it would have reduced the credit on the purchases balance and the cash balance would have stayed the same (which could have meant me paying interest on the cash balance).
Has anyone else experienced this?
0
Comments
-
as on most cards... they pay off the debts with the least apr first and the highest last
read the t&c.EU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards