If I made a cash withdrawl on my credit card, what interest is charged? Is it daily?
Jul 15, 2010
in
Credit Card Machines
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!?
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4 comments
SandraD on July 15, 2010 at 11:48 pm
Most cards are about 24%
scottsmylie on July 15, 2010 at 11:48 pm
You Probably get a fee on top of the cash advance rate.
Bob on July 15, 2010 at 11:48 pm
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.
Maryn Bittner on July 15, 2010 at 11:48 pm
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.