Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Cash withdrawal limit on credit cards..

6 replies

LynetteScavo · 03/04/2010 16:26

Is the quoted credit limit for cash withdrawal per day? Or per week? Or overall on the credit total?

OP posts:
OldLadyKnowsNothing · 03/04/2010 16:44

I think it's usually per day - can you check the small print?

You'll also pay some sort of commission on a cash withdrawal.

LynetteScavo · 03/04/2010 17:33

OK, it says "your cash limit is part of your credit limit. Your cash limit is £113."

Which seems an odd number to me.

OP posts:
MillyMollyMoo · 03/04/2010 18:13

I did this when I was much younger 18 and what I didn't realise was that any purchases you make after you've taken out a cash withdrawal have no interest free period and the cash has no interest free period either so by the bill comes through you'll already be being charged, possibly at a higher rate too.
Just thought I'd mention it in case you have any other options at all.

OldLadyKnowsNothing · 04/04/2010 09:53

Sorry, had to go out to work last night. £113 does sound like an odd number - is that all the credit you have left on the card, perhaps? I've heard banks are arbitrarily reducing credit limits...

LynetteScavo · 04/04/2010 13:10

I just wanted to make sure for when I was abroad, incase of emergancy, but apparently my Switch/maestro is now going to be a visa debit card...so hopfully I will be able to use that instead.

OP posts:
3point14 · 15/04/2010 06:16

Some cards limit the amount you can advance in cash. My HSBC allow 100% of the credit limit but my RBS card only allows 70% I think and I know another only allows 50%.

So in theory, if you had a % card which only had £113 left on the cash side of the credit limit, then you would only be able to withdraw £113.

New posts on this thread. Refresh page