Debenhams Card - Charges for travel money interest question

clairey22

Hello,
I hope you guys can help me. I recently used my Debenhams credit card (operated by GE Money) to buy some currency for a trip to the USA from a Travelex branch. I took out $750 and was charged circa £15 on my statement I think for a cash withdrawal fee. Not so fussed about that as I guess they see it as a cash withdrawal and charge the fee.

However, I paid my statement balance in full (I always do on that card) but I have now been charged £14 in interest. I queried this with them and they said interest is charged on a daily basis from the date of the transaction for cash withdrawals. I have asked for a copy of the terms and conditions but in the mean time, does anyone know if this is normal practice or not? I thought if I paid the balance in full every month then they wouldn't charge me interest.

thanks for your help
clairey

CLAPTON

it's entire normal and standard industry practice for cash withdrawal or equivalent (i.e. foreign currency purchase, gambling sites etc) to be subject to a cash handling fee (often 2-3% ) and interest at a high rate from the day of transaction to when paid off.

CLAPTON

also

see
https://www.gemoney.co.uk/apply/debenhamsapplication?appFunc=showSummaryBox

whilst not the full T&Cs its clear that cash advance has no interest free period.

clairey22

Ok thanks guys for the info. I'll remember not to use my credit card for currency next time. I thought it would be worth it to get the debenhams points but it didnt turn out that way if I have to pay extra for using it in this way!

cheers
clairey x

Threewheeler

My wife has a Debenhams credit card, paid in full every month, to-day she received a letter about "PrivacyGuard" asking her to sign up for a Free trial and get her "Credit Report". After 30 days she agrees to a £69.99 a year to be able to monitor her score!!! This credit report is, as we know available by sending a cheque to the agencies and they must comply by law.
What a rip-off?
The small print on the card you sign and send off for the FREE trial says "By applying you give your consent to GE Capital....provining your updated account information to Affinion.......and to the transfer of data outside of the EEa to the USA.........processing."
Thought that this info should be available for all MSE' readers.