Money transfers

lumper1967

Hi , I know that withdrawing money on a CC from a cash machine can affect your credit score but does the same apply for a money transfer into your bank account?

[Deleted User]

No - it's not marked as a cash advance.

But remember that you don't have a credit score - just credit history.

Craig1981

money transfer is not a cash advance, so wont show up on your file as an advance

lumper1967

Brilliant thank you :-)

T-G-C

For complete assurance, I would recommend asking them on the phone. The adviser will confirm whether it is reported to the credit reference agencies.

I know that Vanquis allow customers to transfer some of their credit limit into their bank account over the phone, branded as a money transfer at the purchase rate, however these in particular are reported as a cash advance, but I can't speak for others.