Cash withdrawal on credit card

[userxx]

This is probabaly a daft question but if I withdraw cash on my credit card will intrest only stop being charged once I have paid the full amount off including any purchases made on the card?

The credit card is 0% intrest for 12 months on purchases.

Your statement should tell you how they allocate payments.

They will probably allocate payments to the transactions that incur the most interest first.

I wouldn't take cash out on a credit card, they charge you an awful lot for that.

Highest interest rate paid off first after fees and charges so the cash will be paid off before the 0% on purchases. It used to be the other way round which is why it was always a terrible idea to get cash out on a credit card. I don't think cash withdrawals on a credit card do your credit rating any favours though so worth keeping in mind if that might cause you an issue going forward

Also there's usually no interest free period at all on cash withdrawals so consider that too.

I think mine was something like 0% on purchases for 12 months but as soon as I withdrew cash the 0% would stop

@BlahBlahBlahh That's interesting to know.

Thanks Jessica that makes sense.

I'm using the credit card and paying it off each month, well in theory anyway, there seems to have been a few payments that have sneaked through and I've noticed very small amounts of interest.