Barlcaycard T&Cs Change: Cash Withdrawals

[Deleted User]

phillw said:

Zellah said:
By a "negative effect" I meant not being able to successfully obtain a few credit cards, mortgage, 2 loans and car finance over the last decade or so. Of course lenders don't just look at CRA data, they look at other factors as well (ie the bigger picture) but I'm 99% sure if my regular cash withdrawals were an issue, I would have been declined for credit. 

I don't see the big deal with cash advances, you can avoid cash entirely and live off spiraling credit card debt.
The only downside is if people use cash obtained from a credit card to cover the minimum payment.
Usually it's the fees and interest that is the real issue.
But there may be lenders that you didn't apply to that would have a problem with it and you won't know.

Cash Advances are explicitly detailed on the credit reports and generally viewed negatively - particularly by manual underwriters. Along with the minimum payment marker being Yes with both indicating possible financial stress. 

CRISPIANNE3

Looking through the new terms and conditions I understand provided you pay the balance off every month then no interest is payable. However what about the fee for withdrawing the cash. Has that been abolished as well. 

jonesMUFCforever

I have sent them a secure message asking them about this - will come back when I have received a reply

Zellah

CRISPIANNE3 said:

Looking through the new terms and conditions I understand provided you pay the balance off every month then no interest is payable. However what about the fee for withdrawing the cash. Has that been abolished as well. 

No, with the exception of the Rewards card, all Barclaycards will still incur a 2%+ cash withdrawal fee, both in UK and abroad. 
https://www.barclaycard.co.uk/personal/customer/terms
 

jonesMUFCforever

jonesMUFCforever said:

I have sent them a secure message asking them about this - will come back when I have received a reply

Okay they have replied.
A cash withdrawal will incur a 2.99% fee.
There will be no cashback on cash withdrawals.
No interest would be charged if paid in full by due date.

Zellah

jonesMUFCforever said:

jonesMUFCforever said:

I have sent them a secure message asking them about this - will come back when I have received a reply

Okay they have replied.
A cash withdrawal will incur a 2.99% fee.
There will be no cashback on cash withdrawals.
No interest would be charged if paid in full by due date.

I assume you don’t have the Rewards card? My Rewards card shows 0% as the cash advance fee, it was already fee and interest free for oversees cash withdrawals under the current t&c’s. 

SuperAllyB

jonesMUFCforever said:

jonesMUFCforever said:

I have sent them a secure message asking them about this - will come back when I have received a reply

Okay they have replied.
A cash withdrawal will incur a 2.99% fee.
There will be no cashback on cash withdrawals.
No interest would be charged if paid in full by due date.

So basically, it's handy to have in an emergency but nothing more than that.

CRISPIANNE3

jonesMUFCforever said:

jonesMUFCforever said:

I have sent them a secure message asking them about this - will come back when I have received a reply

Okay they have replied.
A cash withdrawal will incur a 2.99% fee.
There will be no cashback on cash withdrawals.
No interest would be charged if paid in full by due date.

Why am I not surprised. I thought it was too good to be true!

Zellah

CRISPIANNE3 said:

jonesMUFCforever said:

jonesMUFCforever said:

I have sent them a secure message asking them about this - will come back when I have received a reply

Okay they have replied.
A cash withdrawal will incur a 2.99% fee.
There will be no cashback on cash withdrawals.
No interest would be charged if paid in full by due date.

Why am I not surprised. I thought it was too good to be true!

In that case why not apply for a new Rewards card as that really is “too good to be true”?

CRISPIANNE3

Zellah said:

CRISPIANNE3 said:

jonesMUFCforever said:

jonesMUFCforever said:

I have sent them a secure message asking them about this - will come back when I have received a reply

Okay they have replied.
A cash withdrawal will incur a 2.99% fee.
There will be no cashback on cash withdrawals.
No interest would be charged if paid in full by due date.

Why am I not surprised. I thought it was too good to be true!

In that case why not apply for a new Rewards card as that really is “too good to be true”?

I have 4 cards with them and 2 through migration. Nice idea but cannot see them doing anything for me.