Taking cash out of credit card?

Aug 30, 2004 29 Replies

In message , GSV Three Minds in a Can writes

Yes, I thknj it would be fair to say these arent 'any sort of assets' though!. That kind of 'bridging' was common place but often the share option was informally assigned to the bank by way of a memorandum of deposit and sometimes a blank signed stock transfer form or vesting document which the bank could exercise.

In message , Ronald Raygun writes

Yes, which is why the bank charged the fee. The idea was to charge enough in fees to cover all your costs including your own salary so that the interest earned was pure profit (apart form the cost of the funds lent of course)

>

In message , Fraser writes

Yes, 'repayable on demand'.

Okay, okay........................

Although I would argue you aren't giving a decent rate, you are giving a very good one. A decent rate would be the middle of the road ones, who fall short of the high teens charged by the indecent ones.

Neb

Have some chocolate. Very dark. Very bitter. Oops, sorry, you're bitter enough already.

Without a hint of irony, GSV Three Minds in a Can astounded uk.finance on 30 Aug 2004 by announcing:

It may also adversely affect your credit rating. Cash advances on credit cards are seen by some companies as evidence that you cannot manage your finances.

"Alex" wrote

How would they find out? AIUI, the CRA's only hold total limits & total balances - not split by cash advance/purchases/BTs.

Without a hint of irony, "Tim" astounded uk.finance on 01 Sep

2004 by announcing:

If it's an unrelated company, they wouldn't. If, for example, it was on a Barclaycard then it definitely used to affect your rating when applying for other Barclays products.

If credit card is the only option (why don't you have some savings?), then pay by credit card for whatever you can, rather than withdraw cash and spend cash in the shops. You will save on interest and cash advance fees. You might also consider using two cards, one for cash advances and one for buying things, and pay off the second one from the cash advances.

Aren't nearly all teens considered indecent now?

Sorry, couldn't resist lightening things up a bit! ;)

MM

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required