Aqua credit card cash withdrawal

Jasonkg9

(AQUA CLASSIC)

Hello I don't no if I am posting in the wrong place I think I might be. 😁

I just wanted to no how much would it cost each day if I made a £200 cash withdrawal from my credit card. The Apr is 49.9%

I did try and post In the credit card section but it said only post about deals&offers and come to the "i wanna" form.

Thanks :j

System

Bear in mind it will hurt your credit history as well as costing you an absolute fortune. You should never withdraw cash on a credit card.

Willing2Learn

beany_bot wrote: »

Bear in mind it will hurt your credit history as well as costing you an absolute fortune. You should never withdraw cash on a credit card.

^^^ This ^^^

Have you considered making £200 worth of purchases on your card instead (things like food and travel costs), so that you don't incur the fee or damage to your credit file?

Ben8282

£6 cash withdrawal fee.
Interest at about 28p per day if at 49.9% but think the 49.9% APR card has a higher rate of 59.95% APR for cash transactions, so say about 33p per day. Very approximate figures,

Jasonkg9

Thanks ben ��

Willing2learn - Yes but the money is not for me it's for a family member. I just wanted to no how much daily interest would be, as if its alot then i wont do it but it's only going to be a 1 time thing.

Thanks all

MallyGirl

regardless of interest it will leave a footprint on your credit history that you took cash from a credit card (which is generally not seen as a positive thing to do)

Yellow_mango

If it’s for a family member and this is the only way you can access the cash to lend them, this sounds like a recipe for disaster.

This is not money you can afford to lend.

adindas

Yellow_mango wrote: »

If it’s for a family member and this is the only way you can access the cash to lend them, this sounds like a recipe for disaster.

This is not money you can afford to lend.

It has been numerous cases here on MSE where people end up with family dispute. The one who use their credit card to help lending money for family will pay all of the cost including ruining the creditworthiness.

[Deleted User]

Don’t withdraw cash on a credit card, even for a family member.

Seek alternative ways of getting funds together

dresdendave

Yellow_mango wrote: »

If it’s for a family member and this is the only way you can access the cash to lend them, this sounds like a recipe for disaster.

This is not money you can afford to lend.

In reality it not being lent, it's being given away as it's virtually certain the "loan" will never be repaid.

Jasonkg9

Ok thanks people for your answers. I don't think I be doing it now.