Travelex Supercard Cash Advance

OOOO

I currently have a Barclaycard with available credit but no offers for money transfers to my bank. It has a purchase rate of 7.9%

I would like to get a loan for around £3000

Would it be possible to apply for the Travelex Supercard and link my barclaycard to that, then withdraw £500 a day from an ATM?

How would this work out?
Just seen on the website £250 max UK ATM wthdrawl with £1 plus 1% fee? Does this mean for £3000 i would pay £42 total fees?
Would Barclaycard see this transaction as a purchase or a cash advance?

Good or bad idea?

jonesMUFCforever

Cash advance -- sorry.

eDicky

"There is a charge of 1% of the transaction value, plus £1 per transaction when you use an ATM in the UK
However, there are no cash advance fees if you have linked a credit card."

https://www.travelex.co.uk/services/supercard/faqs#transactional-issues

Is the Curve card still in existence..?

The_Urbanite

OOOO wrote: »

I currently have a Barclaycard with available credit but no offers for money transfers to my bank. It has a purchase rate of 7.9%

I would like to get a loan for around £3000

Would it be possible to apply for the Travelex Supercard and link my barclaycard to that, then withdraw £500 a day from an ATM?

How would this work out?
Just seen on the website £250 max UK ATM wthdrawl with £1 plus 1% fee? Does this mean for £3000 i would pay £42 total fees?
Would Barclaycard see this transaction as a purchase or a cash advance?

Good or bad idea?

You will categorically not pay a cash advance fee for spending on a credit card through Supercard. I've got one hooked up to various credit cards and none of them treat it as cash. For peace of mind, I believe this is covered in their FAQs.

Good or bad idea...well there are cheaper ways to rip cash out of credit cards, but that requires a bit of imagination...! Your sums appear to be correct. I know very little about bank loans, but I'm sure I saw a bank offering one for 3.4%. Is a credit card the best option?

OOOO

The curve card looks okay, maybe that would be better than the Travelex?

I am unable to get a loan for less than 12.9%. I have a lot of available and unused credit on 2 cards. Dont want to close the cards at the moment