0% balance transfer for credit card cash withdrawal

cassie13

Would it be possible to withdraw £1200 cash from credit card at 10.58% interest charge and balance transfer to new 0% credit card? Would this adversely affect my credit rating?

grumpy_codger

https://www.experian.com/blogs/ask-experian/what-is-a-cash-advance/

Using your credit card for a cash advance doesn't directly affect your credit score

https://www.equifax.co.uk/resources/loans-and-credit/what-is-a-cash-advance.html

A cash advance from a credit card account can appear on your Equifax Credit Report. As one of the most expensive ways to withdraw money, it can have a negative effect on your credit score

born_again

grumpy_codger said:

https://www.experian.com/blogs/ask-experian/what-is-a-cash-advance/

Using your credit card for a cash advance doesn't directly affect your credit score

https://www.equifax.co.uk/resources/loans-and-credit/what-is-a-cash-advance.html

A cash advance from a credit card account can appear on your Equifax Credit Report. As one of the most expensive ways to withdraw money, it can have a negative effect on your credit score

No but banks note things like this. So as we know credit score is meaning less, unlike banks reporting of cash withdrawals on a credit card.

prettyandfluffy

Wouldn't it be easier to get a money transfer credit card and move the money straight from the card into your bank account?