Cash advance on CC then transfer the balance?

bindieye

Hello,

I am travelling at the moment, and the countries I'm in do not have the infrastructure to pay for things with credit cards, so currently I am cash poor but have a lot of credit unused.

Is it possible to take a cash advance out on one credit card and then transfer the balance to an interest free balance transfer credit card?

Thanks

simpson_77

Last year Natwest were doing a cash balance transfer for 0% . Over the course of 30 days I transferred the available balance and cleared by transferring to my Tesco card which had 0% on transfers for 24 months. I did this 3 times

0% £15k loan, thanks Natwest and Tesco So can be done

[Deleted User]

The balance on your first card is a debt - it doesn't matter how it was built up. The new lender will pay it (subject to credit limit, and it not being within the same banking group)

Also watch out for the foreign transaction fee on top of the cash fee (if either are applicable on your first card).

As interest starts immediately, you'll want to get your balance transfer started ASAP.

Personally, id apply for the intended 0% BT card first - factor in any BT fees etc they charge - and then you'll know exactly where you stand re: credit limits and can be sure it won't fail due to your new lender(s) not giving high enough limits. Although if you're in situation where you're going to be taking the cash regardless, this isn't so much of an issue.

If your credit history is good, you'd probably be better off looking straight at a MONEY TRANSFER card. Then they'd deposit the cash straight into a bank account (and you go take it out on your debit card). By doing that you'd save on fees/interest. I'm on mobile so can't check, but MBNA et al are normally very competitive for money transfers