Cash withdrawals with CC

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  • sourcrates
    sourcrates Posts: 28,924 Ambassador
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    tryin wrote: »
    In the MSE guide it says that an occasional withdrawal is ok, but if you use it a lot it looks bad. Your saying the whole thing is rubbish, and they have no way of seeing if you used it for cash transactions at all. Who should I believe? And BTW, where can I see my credit report?


    It may imply to the creditor that you are dependant on borrowing cash if you withdraw cash a lot on your credit card.


    That has absolutly nothing to do with what is recorded on your credit report.


    You can view your report online at various 3rd party websites or directly from the top 3 here :


    https://www.equifax.co.uk/Products/credit/statutory-report.html


    https://www.noddle.co.uk/


    https://www.experian.co.uk/consumer/statutory-report.html
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • tryin
    tryin Posts: 351 Forumite
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    sourcrates wrote: »
    It may imply to the creditor that you are dependant on borrowing cash if you withdraw cash a lot on your credit card.


    That has absolutly nothing to do with what is recorded on your credit report.
    If its not on the credit report, how can it imply anything to the creditor? He doesn't know about it!
  • Fingerbobs
    Fingerbobs Posts: 1,648 Forumite
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    edited 8 April 2019 at 6:32PM
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    sourcrates wrote: »

    The only recorded information is if your payment was on time, late, and how late, credit reports actually show very little information, and certainly do not show individual transactions.

    They don't include individual transactions, but Experian records the number of cash advances each month and their total value, even if you pay them back straight away.
  • sourcrates
    sourcrates Posts: 28,924 Ambassador
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    tryin wrote: »
    If its not on the credit report, how can it imply anything to the creditor? He doesn't know about it!


    It will only be visable to the card provider you are borrowing from, no one else.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Takmon
    Takmon Posts: 1,738 Forumite
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    sourcrates wrote: »
    It will only be visable to the card provider you are borrowing from, no one else.

    The cash advances shown on the credit report will be visible to any credit provider who carries out a search on your report.
  • sourcrates
    sourcrates Posts: 28,924 Ambassador
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    Takmon wrote: »
    The cash advances shown on the credit report will be visible to any credit provider who carries out a search on your report.


    Only if they use Experian.


    No other CRA records this information.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • tryin
    tryin Posts: 351 Forumite
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    doesn't really help me that, unless its possible to know which banks use which CRA. But even if yes, I've got no idea which bank I'm gonna get a mortgage from. So if I want to play on the safe side, I'll have o find a different way to transfer cash.
  • phillw
    phillw Posts: 5,596 Forumite
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    sourcrates wrote: »
    Only if they use Experian.


    No other CRA records this information.

    How do you know what CRA a lender will use?
  • sourcrates
    sourcrates Posts: 28,924 Ambassador
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    phillw wrote: »
    How do you know what CRA a lender will use?

    We did have a list at one point, but I believe it would be well out of date by now, it involves asking individual creditors which CRA they report too, under a freedom of information request.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • tryin
    tryin Posts: 351 Forumite
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    As I said, its irrelevant unless you know years in advance which company your getting your mortgage from, or which credit card your going to apply for. (You can't even know if that CC will be available in a year, never mind that its the only one your going to want).
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