Credit card cash withdrawal on credit report?

xzibit

I had an email from ClearScore stating my credit score had dropped. Upon checking it’s saying that I’ve withdrawn cash from my credit card at least once in the past 3 months. 

This hasn’t happened as I don’t withdraw cash from my credit card, it doesn’t appear on my statements and isn’t recorded on my Experian report. 

Is it worth worrying about trying to correct it with Equifax or it’ll just pass in a few months and eventually be no issue? 

[Deleted User]

Don't worry. Equifax say a lot of things that aren't true. Almost as many as Experian.

If the data is correct, then it's fine.

Ebe_Scrooge

As above, you can ignore pretty much most of what the CRAs tell you.  And a drop in your score is absolutely nothing to worry about as its not used, nor even seen, by any lender.

As a slight aside, do be aware that certain credit card transactions are treated as cash.  Common ones are gambling transactions, buying foreign currency, sometimes buying gift cards from a dedicate gift-card site (not usually if you buy them from a supermarket).  So you could have a "cash-like" transaction (though you'd probably have noticed it on your statements), or it could just be a mistake from Equifax.

xzibit

Actually, it isn’t a mistake by Equifax. 

I now remember back at the beginning in June I needed to buy a small amount of foreign currency for a trip. I went to M&S and presented my Chase UK card and they got all uppity about it not having a card number. When I tried to get the card number on the app I discovered I didn’t have phone signal. As there was a queue forming behind me I just handed the chap my credit card to get the transaction done. That’ll be it. A flustered mistake.

Ebe_Scrooge

xzibit said:

Actually, it isn’t a mistake by Equifax. 

I now remember back at the beginning in June I needed to buy a small amount of foreign currency for a trip. I went to M&S and presented my Chase UK card and they got all uppity about it not having a card number. When I tried to get the card number on the app I discovered I didn’t have phone signal. As there was a queue forming behind me I just handed the chap my credit card to get the transaction done. That’ll be it. A flustered mistake.

Glad you've found a logical, simple explanation, it's always reassuring to get to the bottom of things.

Yep, you do need to watch for these "cash-like" transactions on credit cards, they can catch a lot of people out (although, things that are treated as cash are usually detailed on the back of your statement, or in the T&C's for your card, useful for future reference).