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Old 08-11-2007, 10:48 AM
Yahoo!Amit Yahoo!Amit is offline
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Default There is interest payable if you take cash from ATM on a credit card, but is...

...it same for cash back from Tesco? Lets say I buy items for £25 using credit card and take £50 as cashback on same card from any store which provide cash back facility, do they consider as a single transaction of £75 or two transaction 1. Shopping for £25 , 2. Cash withdrawl of £50. If they consider a single transaction, its intrest free untill my due date otherwise £50 would be considered as cash taken from ATM. I do not know answer yet and thats why its here.


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Old 08-11-2007, 01:49 PM
Matt Matt is offline
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I found interesting information about your answer Here:
debt consolidation loans:
http://all-debt-consolidation-loan.blogspot.com/2007/07/debt-consolidation.html
credit cards:
http://all-debt-consolidation-loan.blogspot.com/2007/07/chase-credit-cards.html
Good Luck!
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Old 08-11-2007, 02:49 PM
greenlake2601 greenlake2601 is offline
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I am surprised by some financial questions on here !!!!!
any cashback you take from a shop gets added to your bill, end of.
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Old 08-11-2007, 02:49 PM
Angie Angie is offline
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Cashback is only given when presenting a debit card for payment of goods.

Cashback does not apply to credit cards.
(Credit Cards are cash Advance transactions not cash back transactions. )
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Old 08-11-2007, 03:31 PM
bostonianinmo bostonianinmo is offline
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The excess will be treated as a cash advance and the cash advance terms and conditions will apply. This should be explained in your cardholder agreement, probably in print that will require a magnifying glass to read and likely couched in legalese terms, but it should be there somewhere.
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Old 08-11-2007, 03:31 PM
alatoruk alatoruk is offline
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lots of people have put what i consider the right answer - you wont get offered cash back on credit cards for that very reason, debit cards only.
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Old 08-11-2007, 04:16 PM
Libby one and only. Libby one and only. is offline
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I worked in a supermarket and generally they do not give cash back on credit cards so i do not think you need worry. Should it be possible, but i don't think it is, you pay interest on any cash advance. It is not just a one off interest either- it is payable for the entire time you owe that money.
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