If you need quick cash and you only have a credit card, will the bank allow yo to extract cash from your card? If they do, how much will they charge you for doing this?
2006-10-26 00:26:33 · 17 answers · asked by barbaraspice 1 in Business & Finance ➔ Credit
Yes but it should be a last resort as the interest rate is terrific...cant give exact % as all card providers have different rates..not advised unless your really desperate..
2006-10-26 00:34:25 · answer #1 · answered by geordie.lady 6 · 0⤊ 0⤋
Live life on plastic. Credit cards, charge cards, debit cards are way better than cash. Cash is inconvenient because of loose change. America screwed up by having the penny. The govt looses so much money because people throw away loose change. A card transactions are good ways to monitor your spending and keep a paper trail without collecting receipts. I personally hate using cash because of the arbitrary pricing on products and services. Why would something be $0.99 cents instead of a dollar? Thats just 3 quarter, a dime, a nickel, and four pennies lost. Most people only bother to save the quarters, and the rest gets lost. Nothing automated even bothers to accept pennies, and minting a penny costs more in material than the face value. Anyway, cash is only used for tips, charity, and drug deals. Its because pocket change is considered worthless that these customs have been integrated in our economy.
2016-03-19 00:11:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes. Cash withdrawal against Credit Card is allowed. Usually they set a limit of how much u can withdraw per month. Interest rate depends upon the Bank u have the credit card. But take care not to use the card too often, for the interest charged is often exorbitant.
2006-10-26 00:32:12 · answer #3 · answered by skr 3 · 0⤊ 0⤋
aah yes you can but it is a tricky business. They charge their usual interest rate which they apply when you pay your money late. Moreover:
If for example you used 10.000$ credit via shopping during that month and withdraw 1$ cash at the last day of that month then they charge this interest as if you have withdrawn 10.001$. Thats how tricky they are. Therefore, use a card you haven't used this month to withdraw...
But still, it depends in which country you are living in and what credit card you are using
2006-10-26 00:30:49 · answer #4 · answered by bogus 3 · 0⤊ 0⤋
yes you can, it is called a cash advance. The amount you withdraw from a cash advance gets placed on your credit card statement just like a purchase. Yet, the fees for taking a cash advance, or for withdrawing over your cash advance limit are different.
Check the terms of your cerdit card. It'll be par of the fine print on the back of your monthly statement, or you can place a call to the 1-800 customer service number.
good luck:)
2006-10-26 00:40:38 · answer #5 · answered by Anonymous · 0⤊ 0⤋
you can use your credit card to draw cash out of a cash machine if you want too but you will pay a bit more interest if you draw cash straight out of a cash machine using a credit card, your best bet would be to go too a supermarket that does cash back, then spend about 50p and ask for cash back for the amount you want then you wont have to pay extra interest!!!
2006-10-26 00:31:06 · answer #6 · answered by JAMES P 2 · 0⤊ 0⤋
Depending on what country you are in, the best bet is to go to supermarket, buy something small and when checkout girl asks any cash with that withdraw cash amount then you will not pay interest until that months payment is due.
Of course depends on how much credit you have BEWARE cos they charge interest up to 5% per day for overdue payments that can total up very quickly like interest on interest....then they have your soul... :-(
2006-10-26 00:43:51 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yes you can do it when you got your credit card you should have recieved a pin number with it and you can withdraw cash at atm there is a big charge not sure how much
2006-10-26 00:30:31 · answer #8 · answered by dani 1 · 0⤊ 0⤋
IF you get these checks, in the mail from your credit card, you can use them,The back explains the fees. Mine now say, no Cash Advance Fees. You must not go over your credit limit.Be carefull and read all the fine print until you understand.
2006-10-26 04:55:13 · answer #9 · answered by pooterilgatto 7 · 0⤊ 0⤋
Yes, but you must first establish a pin number. Beware the interest rates on cash advances are very high. You could also use Moneygram ar Western Union to wire money to a trustworthy friend and then take them to get the money and have them give it to you. Just call from a cell and you can tell them you are in a different location.
2006-10-26 00:31:26 · answer #10 · answered by Daniel H 2 · 0⤊ 0⤋