Accidentally used credit card for cash point withdrawal

CliveOfIndia

pjs493 said:

I know the credit score number isn’t a ‘real’ thing, but the note on my file will obviously have an impact. 

Making a single cash withdrawal will have a miniscule impact on your credit history - if any.  It's only if you do it regularly that it starts to make lenders a bit jittery.

pjs493

CliveOfIndia said:

pjs493 said:

I know the credit score number isn’t a ‘real’ thing, but the note on my file will obviously have an impact. 

Making a single cash withdrawal will have a miniscule impact on your credit history - if any.  It's only if you do it regularly that it starts to make lenders a bit jittery.

It’s had a significant impact on my report with one of the credit reference agencies. My score dropped by 57 points and hasn’t been that low in years. It is noted in my file that I withdrew cash on a credit card. 

CliveOfIndia

pjs493 said:

CliveOfIndia said:

pjs493 said:

I know the credit score number isn’t a ‘real’ thing, but the note on my file will obviously have an impact. 

Making a single cash withdrawal will have a miniscule impact on your credit history - if any.  It's only if you do it regularly that it starts to make lenders a bit jittery.

It’s had a significant impact on my report with one of the credit reference agencies. My score dropped by 57 points and hasn’t been that low in years. It is noted in my file that I withdrew cash on a credit card. 

No, it hasn't had a significant impact.  As has been stated numerous times, the score dished out by the CRAs is totally irrelevant - not least because a lender can't even see it.  All it represents is the CRA's (usually very skewed) view of you - and since they're not the ones lending you money, who cares two hoots what they think of you?

A lender will look at the raw data in your file and form their own opinion. And each lender will have very different criteria (another reason why there cannot possibly be a one-size-fits-all score).

Yes, a lender will see that you made a cash withdrawal.  But an isolated cash withdrawal will not bother them one bit.  If you're withdrawing cash every week (and particularly if you then fail to repay the full balance every month) then of course that would be a different matter - the obvious implication being that you're living beyond your means and struggling for cash.

But honestly, there really is absolutely nothing to worry about in your particular scenario.