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Caught out by cash-like transaction fees
Comments
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I was referring to the way BC categorise certain MCC's when using the card to purchase varying items. So, for example, paying for a Gift Card on a CC can either go down as a Cash-Like Transaction and you'll be charged (extortionately) for it, or, it could go down as a standard purchase and then be charged accordingly.zagfles said:
The new BC reward card doesn't treat cash any differently to purchases so it doesn't really matter, except you don't get the 0.25% reward for cash. I use it for ATM withdrawals.MrFrugalFever said:I've found Barclaycard to have the least amount of transactions classed as 'Cash like transactions', but this seems to vary depending on lender.
The OP wasn't referring to cash withdrawals and neither was I.If you believe you can, you will. If you believe you can't, you won't.
Secured/Unsecured loans x 1
Credit Cards x 8 (total limit £55,050)
Creation FS Retail Account x 1
Creation Credit Sale 0% x 1 = £112.50pm x 20 mths
0% Overdraft x 1 (£0 / £250)
Mortgage Outstanding - £137,707.00 (Payment 13/360)
Total Debt = £7,400 (0%APR) @ £100pm - Stoozing0 -
MrFrugalFever said:
I was referring to the way BC categorise certain MCC's when using the card to purchase varying items. So, for example, paying for a Gift Card on a CC can either go down as a Cash-Like Transaction and you'll be charged (extortionately) for it, or, it could go down as a standard purchase and then be charged accordingly.zagfles said:
The new BC reward card doesn't treat cash any differently to purchases so it doesn't really matter, except you don't get the 0.25% reward for cash. I use it for ATM withdrawals.MrFrugalFever said:I've found Barclaycard to have the least amount of transactions classed as 'Cash like transactions', but this seems to vary depending on lender.
The OP wasn't referring to cash withdrawals and neither was I.The point was it doesn't matter even if it is treated as a "cash like transaction" with the BC reward card, because cash isn't charged differently to purchases. You won't be "charged (extortionately) for it".Other BCs are different.0
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