Ways to get cash advances from a credit card??

dn852k4

Could I buy sterling travellers cheques and deposit them in to my bank account, that way I would have cash at a purchase interest rate? My card is capital one, and my bank account is Halifax.

MrsMillar

I suspect that purchase of travellers' cheques would count as a cash advance. I think the best way to get a "free" cash advance is to offer to pay by credit card, say, if you go out for a meal with friends, and have your friends give you cash for their share! :beer:

saucy77

Agreeing with MrsMillar on this one.

I used my card to buy euro's for holiday and was astounded when they said they would charge me for using my card to buy them. I can't remember the rate, but it was about £6. Then when I got my statement through I noticed that it had been charged as cash advance.

So I don't think it will work for travellers cheques.

I'm not sure if there is a way round it, but would be interested to find out if there is.

YorkshireBoy

M&S treat Sterling TC's ordered from them as a purchase on their &more card, and they'll even give you 0% on the transaction for a new account. There is a 1% fee though, and not all banks will encash them so check first if yours does!

PBA

Slight correction, all banks will accept sterling travellers cheques, but you'll need to wait for them to clear in to your account. Some banks might encash them instantly, but they'll probably charge you a foreign exchange commission.

MrsMillar has the best simple solution, just buy something for someone else on your card and get them to give you the cash.

CptnLockhead

There might be warranty/refund issues if you buy something big for a friend? Sods law will tell you that car is bound to go wrong.

Does anyone know if any credit card providers will let you transfer to pay off a (supposed) overdraft i.e. to a current account? i read that Mint did so in early 2006, but this might have changed?

I need to raise £25k cash quick. Have about this limit at 0% across 3 cards, but don't know how to wangle this?

Tipustyger

The Virgin credit card lets you do balance transfers to an current account. I think Natwest might as well but don't know what the costs would be. Virgin charge 3%.

meno_2

i once (long time ago) done a balance transfer of 5k to a card which i only owed £2 on, this put me 4998 in credit, i then cancelled that card and got a £4998 cheque in the post, they have probably clicked on these days

jonesMUFCforever

meno wrote: »

i once (long time ago) done a balance transfer of 5k to a card which i only owed £2 on, this put me 4998 in credit, i then cancelled that card and got a £4998 cheque in the post, they have probably clicked on these days

This is the main reason most cards now don't allow you to be in 'credit' on your credit cards (I know there are exceptions such as Egg) as this was an easy way for fraudsters to get 'clean' money.

QwertyCat

meno wrote: »

i once (long time ago) done a balance transfer of 5k to a card which i only owed £2 on, this put me 4998 in credit, i then cancelled that card and got a £4998 cheque in the post, they have probably clicked on these days

I once went into credit also, they froze my account and I got standard letter about their terms & conditions and money laundering regulations blah blah