Accidentally used credit card for cash point withdrawal

pjs493

I took out some cash yesterday to buy something off Facebook marketplace. I accidentally used my credit card for the withdrawal; I just took the wrong card out of my purse and didn’t realise. Later in the day I logged into my online banking app and realised my error. I immediately transferred the amount from my current account to my credit card to clear the balance. 

My question is, will this have an impact on my credit file? Are cash withdrawals recorded if cleared immediately? Are they only recorded if they sit on the credit card account? I know that cash withdrawals on credit cards are a big no-no. 

I’ve never withdrawn cash using a credit card before and I’m a bit surprised it didn’t warn me on the screen that I was using a credit card. Presumably my credit card company doesn’t charge a fee for withdrawals otherwise it would have given me an on-screen warning. 

I’m kicking myself now, I was in a rush because there was a queue behind me and I was parked in the cash machine lay-by in a busy car park with my children in the car. I don’t often take money out from a cash machine and usually pay for things using my phone, which probably explains why I took the wrong card out of my purse. 

Voyager2002

Your card may well charge a fee later, in which case there would not have been an on-screen warning. If you telephone them and ask they may well waive the fee.

The transaction will have been recorded and if a lender is upset about it they will know: however most lenders would not be concerned about this.

pjs493

Voyager2002 said:

Your card may well charge a fee later, in which case there would not have been an on-screen warning. If you telephone them and ask they may well waive the fee.

The transaction will have been recorded and if a lender is upset about it they will know: however most lenders would not be concerned about this.

Thanks, I’ll try to contact my bank to explain the mistake and see if any fee can be waived. 

How long will the transaction show on my report? How long will I see an impact from this?

It used to be easy to tell the difference between a debit and credit card, but with new sleek designs and no raised numbers on a debit card it’s hard to tell them apart. Especially when banks seem to use the same colour branding on their cards. Annoyingly the credit card is a different colour in my Apple wallet which might be why I got it confused. It looks very similar to my debit card. 

Hoenir

Pay it off immediately. Job done. 

pjs493

Hoenir said:

Pay it off immediately. Job done. 

I did. Withdrew the money around 1430, logged into online banking around 1800, saw my mistake and transferred the money. It credited my credit card immediately taking my credit card balance back to £0. 

lisyloo

Can you let me know the source that says this a big no-no.
lots of us take cash out abroad on credit cards on holidays.

why do you think there might be a fee?
usually you get charged interest but on zero days that will be zero.

flaneurs_lobster

Did exactly this a week ago, first time ever I've drawn cash on a credit card. Realised what I'd done later that day and transferred funds from current account to clear.

Two days later a £9 fee appeared on the CC account (3% of the £300 I'd withdrawn, as per the t&cs). 

Very annoying, difficult to appeal for refund without playing the "silly old person getting confused" card.

pjs493

lisyloo said:

Can you let me know the source that says this a big no-no.
lots of us take cash out abroad on credit cards on holidays.

why do you think there might be a fee?
usually you get charged interest but on zero days that will be zero.

Check out the credit card section on this website, it talks about how it’s bad to take out cash on a credit card in the UK. Withdrawing overseas is different, but in the UK it’s bad for your credit file as it looks like you don’t have cash to hand and therefore you’re resorting to using your credit card to get access to cash. 

Many credit card companies charge a fee for cash withdrawals. I have no idea if mine does or not because I’ve never done it before. 

GrumpyDil

Actually that section refers to regularly withdrawing cash. I can't see a one off withdrawal is going to have any impact let alone a significant one. 

Brie

I've never had a CC* charge a fee for a cash withdrawal here or overseas.  I have had the ATM machines charge a fee occasionally - particularly overseas.  What I've experienced is that interest will be charged on the cash withdrawn until it is paid off.  So the fact that you cleared it immediately would assume no or minimal interest will be charged.

Do ring the bank and ask what they do in these circumstances.  If there is a fee they may be happy to waive it.  If not pay another amount on the card to clear that and any trailing interest.  

fyi - I've never seen anything on a credit report (& I've seen a few) which specifically shows that cash has been withdrawn with a CC.  

*my cards have included M&S, Barclaycard, MBNA, Santander & RBS.

sammyjammy

Can I suggest that you change the PIN for one of the cards, its really not advised to have them all the same.  If someone sees you taking out cash and then steals your bag they have everything they need.

It would also save you making the same mistake again.