We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Whats the best way of borrowing cash???
tassle_2
Posts: 5 Forumite
in Credit cards
Help! I often need to pay people in cash and am having big cash flow problems (i.e. I have to wait for money to clear by cheque etc before I can withdraw it to pay people!)
I would love to get a credit card as it would give me greater flexibility and i could easily pay off the full amount every month, however I'm aware that withdrawing cash on a credit card is a big no-no!
Can anyone suggest a solution? Is there an acceptable cash withdrawl credit card? Should I look at a loan instead even though I can pay it back each month?
Help and advice greatfully recieved!!!!
cheers!
Tassle
I would love to get a credit card as it would give me greater flexibility and i could easily pay off the full amount every month, however I'm aware that withdrawing cash on a credit card is a big no-no!
Can anyone suggest a solution? Is there an acceptable cash withdrawl credit card? Should I look at a loan instead even though I can pay it back each month?
Help and advice greatfully recieved!!!!
cheers!
Tassle
0
Comments
-
I would think that the obvious answer is an overdraft. If your bank doesn't offer a good deal then switch to one that does.
Alternatively, the answer could be a credit card. But as you say, don't withdraw cash on it!
Just use your credit card where you can (a cash back card would be best for this), e.g. supermarkets, petrol, etc. That will leave you with more money in your current account that you can withdraw as cash. Then pay off the credit card bill in full and you won't pay interest.
But I think the real solution is to do a budget, stick to it, and build up your current account balance a little bit. Then the money will be in your current account when you need it, and when the cheque clears you will be back up to your now regular higher balance.0 -
EGG Money does not charge anything for cash withdrawls, they do charge interest from the same day the cash is taken out though ...0
-
Barclays allow you to withdraw cash at the time of paying in a cheque - don't know if other banks do too.
Mel.Though no-one can go back and make a brand-new start, anyone can start from now and make a brand-new ending.
(Laurie Taylor, THE no. 1864)0 -
Apply for a Virgin card and ( BT @ 0% + fee ) direct to your bank account.
60 -
Just an update - I've taken No_6's advice and applied for an abbey card (no fee). Their advisor said that a balanct transfer to my overdraft was ok. I'll post again when it comes through!0
-
Tassle, are you happy you know what you are doing with the BT? Or do you want to post your plans here for us to think through with you?0
This discussion has been closed.
Categories
- All Categories
- 347.1K Banking & Borrowing
- 251.6K Reduce Debt & Boost Income
- 451.7K Spending & Discounts
- 239.3K Work, Benefits & Business
- 615.2K Mortgages, Homes & Bills
- 175K Life & Family
- 252.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards