Say for example if I withdrew £50 from a cash machine with credit card, any ideas on how much interest is paid at the end of the month!?
2007-09-24 10:29:22 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
You pay at your card's "cash advance rate" not the "purchase rate". There is no grace period, like with purchases. Every day a cash advance is outstanding accrues interest on the amount outstanding on that date.
2007-09-24 10:41:33 · answer #1 · answered by Ted 7 · 1⤊ 0⤋
You Probably get a fee on top of the cash advance rate.
2007-09-24 17:46:50 · answer #2 · answered by scottsmylie 5 · 0⤊ 0⤋
Most cards are about 24%
2007-09-24 19:07:02 · answer #3 · answered by SandraD 3 · 0⤊ 0⤋
That depends entirely on the card and the bank that backs it. It should be in the literature you got when you got the card.
2007-09-24 17:33:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋