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Cash Withdrawl On A Credit Card

Hi,

I took £250 from my credit card from a cash machine this afternoon I understand there is a 3% charge for doing so but what about the interest do i pay interest on the £250 I rung up and they said they would send me a settlement figure out Im a bit confused really be great if anyone could explain it to me

Thanks

Comments

  • Night-owl_6
    Night-owl_6 Posts: 858 Forumite
    Cap1?????????
    DELETE ACCOUNT.

    NO LONGER WANTED

    DELETE ACCOUNT

    Due to certain users I no longer wish to use this forum
  • PROLIANT
    PROLIANT Posts: 6,396 Forumite
    1,000 Posts Combo Breaker
    Richard20 wrote: »
    Hi,

    I took £250 from my credit card from a cash machine this afternoon I understand there is a 3% charge for doing so but what about the interest do i pay interest on the £250 I rung up and they said they would send me a settlement figure out Im a bit confused really be great if anyone could explain it to me

    Thanks
    Why did you do that? :naughty:
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
  • NickX
    NickX Posts: 3,046 Forumite
    Richard20 wrote: »
    Hi,

    I took £250 from my credit card from a cash machine this afternoon I understand there is a 3% charge for doing so but what about the interest do i pay interest on the £250 I rung up and they said they would send me a settlement figure out Im a bit confused really be great if anyone could explain it to me

    OK, so you will get stung for 3%, that is £7.50 on the £250.

    The interest will be accruing on a daily basis so to minimize the interest pay your balance off in full as soon as possible - i.e. tomorrow. Also add a couple of pounds to allow for interest accrued between now and when the payment actually clears. If it goes into credit you can always ask for a refund, but the longer you leave this balance outstanding the more you will end up paying.
  • Richard20_2
    Richard20_2 Posts: 12 Forumite
    needed to pay a bill at the post office and they dont take credit cards there
  • PROLIANT
    PROLIANT Posts: 6,396 Forumite
    1,000 Posts Combo Breaker
    Richard20 wrote: »
    needed to pay a bill at the post office and they dont take credit cards there
    Really? So they only take Debit cards, no wonder the Post Office is gannin doon the pan!
    Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.
  • Richard20_2
    Richard20_2 Posts: 12 Forumite
    Its was a Transcash payment and they said you cant use a credit card to pay it.
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