Most if not all CCs operate the same way (i.e. charge interest and possibly other fees on cash advances) and how they operate is explained in the terms & conditions of the card agreement and the schedule of charges that apply.Is this the same for all credit cards??
While looking at my NIB online credit card statement, I noticed that I had been charged 62 Euro interest. I always pay off anything I purchase on my credit card within 2 weeks online to avoid interest charges.
I had assumed that if you take 5,000 Euro from your credit card online and transfer it your current account (which I did), you would have the usual 4-6 weeks to repay it before interest was incurred, just like if you made a retail purchase for 5,000 Euro using your credit card. I phoned NIB visa and was told that if you make a cash withdrawl from your credit card, either in Ireland or on holiday abroad, or transfer money online from crdit card to current account, then interest is incurred from day 1. I queried this with Ulster bank who I have a credit card with too and they gave the same response and said this is normal. Apparently if you top up your credit card (into the black) before you go, you can avoid "most" of the interest charge.
Is this the same for all credit cards??
By the way, this is a cheaper option, than using your ATM card to withdrawn cash in a 'non-euro' country (e.g. UK).
Amex Blue is a credit card, not a charge card.An Amex isn't a credit card so that's not comparing like with like.
One way to avoid interest when abroad is to preload your cc with cash before you travel. However the downside of that is that the usual protection the bank gives you in the event of the card being stolen and misused does not apply to the preloaded cash.
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