We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!
cash advance and purchase interest
Options

A_T
Posts: 975 Forumite


in Credit cards
Something I've been wondering about. Say I withdraw £50 from an ATM with my credit card. The same day I make a purchase with it also of £50. The next day I make a payment to my card of £60. My card has interest on ATM advances from day one and the usual interest-free period if you pay off your statement when it's due.
Does that £60 payment first pay off the cash advance so minimising interest I have to pay? Is it split between the ATM withdrawal and the purchase? How do CC companies work these things out?
Does that £60 payment first pay off the cash advance so minimising interest I have to pay? Is it split between the ATM withdrawal and the purchase? How do CC companies work these things out?
0
Comments
-
It will pay off the items according to the order of payments as listed in your particular card T&Cs. Usually the cash withdrawal but you need to read your terms to confirm.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards