2007-03-23 05:02:47 · 18 answers · asked by RachLA 2 in Business & Finance ➔ Credit
Yes you can but DONT!!!! Unless you really need to as they charge you a higher rate of interest on money taken out of cash machines.
If you don't pay in full each month the money you do pay comes off other puchases first (those that are charged at lower rates of interest). This means the cash you have taken out remains on your account for a longer period of time - all the while you are being charged a higher rate of interest on it!
Bit of a con if you ask me - and on top of this they charge you 2.5% for the privilege of taking the cash out before they even begin to add your monthly interest.
2007-03-23 05:10:40 · answer #1 · answered by Sunday 3 · 0⤊ 0⤋
My Barclaycard Credit Card
2016-11-08 02:09:47 · answer #2 · answered by maritza 4 · 0⤊ 0⤋
Yes you can get money out of an ATM, if you know the PIN, but credit cards usually make a charge for this , as it is classed as a cash advance. Not sure about Barclaycard but mine charges about £2.50 for each withdrawal. So I only use it as a last resort.
2007-03-23 05:12:13 · answer #3 · answered by feebee 2 · 0⤊ 0⤋
If it is a brand new account then you certainly will be able to withdaw cash however initial and classic cards are now restricted to only letting you draw up to half your total limit in cash, once you reach half your limit you can only use the card for purchases.
Also you have daily limits which you can't exceed either these are
£100 on initial
£300 classic
£500 for platinum & gold
Be warned if you withdraw large amounts of cash (and sometimes even small amounts) early in an accounts life barclaycard now have a policy of reducing your limit and even withdrawing credit limits
Finally if you do choose to withdraw cash, and i advise against, barclaycard will most likely refuse all future requests for limit increases as they will feel you are a higher risk customer, even if your account is always paid on time!
2007-03-26 09:10:48 · answer #4 · answered by deejay 1 · 0⤊ 0⤋
Barclaycard Cash Advance
2016-12-26 06:56:23 · answer #5 · answered by sittloh 4 · 0⤊ 0⤋
Yes you can take money out of an ATM ,providing you are not over your limit. But watch out that you are not paying a higher rate of interest on a cash withdrawal than for purchases. If cash is a higher rate buy your goods on the card and leave the ATM alone.
2007-03-23 05:41:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes you can... but don't do it, for several reasons. 1, because of interest charges being higher than annual purchace rate, 2, cash is always the last thing to be paid off of your balance, incuring more interest as time goes by. 3, it gos against your credit scoring, the way the banks or cc companys looks a cash withdrawls are you have no money... and they dont like that thought, as it makes you look like you cannot afford a credit card. banks always advise against making cash withdrawls.
2007-03-23 23:44:07 · answer #7 · answered by tinker33 2 · 0⤊ 0⤋
Yes, with a pin number you can withdraw cash from an ATM, just as you can with a debit card. However, BE CAREFUL - a lot of credit cards charge huge fees & interest for withdrawing cash - check with your bank first.
2007-03-23 05:11:07 · answer #8 · answered by keys780 5 · 0⤊ 0⤋
Yes, you can use it at an ATM as long as you know your pin number. You can also get cash from your bank using your card.
2007-03-23 05:07:52 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Depends on your:-
Daily Maximum rate & Total Credit Allowed...
Do NOT forget there will also be CHARGES to your account for EACH transaction as you draw down from your Maximum Credit Amount...
2007-03-23 05:07:53 · answer #10 · answered by Rod Mac 5 · 0⤊ 0⤋