Credit card cheque clearance

sgtbilko

Can anybody tell me if credit card cheques clear immediately ? eg my provider (cap one) says that these can be mad payable to myself when I need some cash...does this mean that, if I pay a credit card cheque into my bank, the cash will be available immediately ?.....or would I have to wait until the cheque cleared ?

I know there are a variety of views on these cheques and differing rates etc within cap one, but I just need to know about the clearance situation.

thanks

inmypocketnottheirs

The cheque will need to clear as usual.

You will be charged interest from the date of the cheque and also a cash advance fee, depending on the deal from C1.

DestroyingAngel_2

Using your ccc to pay yourself is just another way of saying "money transfer". Instead of calling your cc provider and transferring money into your current account, you write yourself a ccc and pay yourself. The same handling charge as a money transfer would apply, along with the same kind of timescale for clearing. You have to make sure the funds have hit your account before trying to make a withdrawal.

sgtbilko

thanks for the replies