Credit card that allows you to transfer cash from card to current a/c

massdebater

Hi,

I'm looking to find out if there's a credit card out there that will allow me to transfer cash direct to my current account i.e. I get the new credit card which has a limit of say €1000. I want a card that will allow me to transfer that €1000 into my current account so I can spend it and pay the €1000 back to the credit card at a later date.

Most of the credit cards seem to be for purchases only, I was just seeing if one is available that will let me do this?

Thanks,

M

eagle_i

I've had my cc for more than 20 years now, so can't comment on cc's that are of more recent issue.

I just have question to you. Why would you do a cash withdrawal and spend the cash rather than simply using the cc to purchase?

My reason for asking, is that you incur a withdrawal charge on cash advances, plus the interest rate charged for cash withdrawals is significantly higher than that charged for straight purchase. Read the T&C of you cc, sorry but you post does not make financial sense.

If is a case you need cash for the short term, approach your bank for an overdraft it will certainly be alot cheaper than cash withdrawals on a cc!

massdebater

eagle_i wrote: »

I've had my cc for more than 20 years now, so can't comment on cc's that are of more recent issue.

I just have question to you. Why would you do a cash withdrawal and spend the cash rather than simply using the cc to purchase?

My reason for asking, is that you incur a withdrawal charge on cash advances, plus the interest rate charged for cash withdrawals is significantly higher than that charged for straight purchase. Read the T&C of you cc, sorry but you post does not make financial sense.

If is a case you need cash for the short term, approach your bank for an overdraft it will certainly be alot cheaper than cash withdrawals on a cc!

Yeah it does seem a bit of a weird one but it's not for any purchase in particular, just that I want to get the extra money in my current account without going for a loan etc.

If I can find a credit card that will allow me to move the money to my current account, I can use a balance transfer from a different card with 0% interest for up to 10 months (therefore not paying any interest on the cash being moved). That way I'll have the extra money in my current account while only owing the original sum to the balance transfer card.

Does that make sense? Sorry, my explanation mightn't be the best

voxpop

Mbna do it - they also have credit card cheques - so you can write a cheque and it comes off you CC

massdebater

voxpop wrote: »

Mbna do it - they also have credit card cheques - so you can write a cheque and it comes off you CC

Cool thanks, I'll look into that then

Random

mbna and aib both allow it in their online systems. you will be charged cash advance fees and interest though. rates vary per card.

3DataModem

Or you can deposit into Moneybookers with your credit card and cashout to your bank account.

Or try fundsend.com