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Old 10-24-2007, 07:21 PM   #1 (permalink)
englands_charm
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If I made a cash withdrawl on my credit card, what interest is charged? Is it daily?

Say for example if I withdrew £50 from a cash machine with credit card, any ideas on how much interest is paid at the end of the month!?
 
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Old 10-24-2007, 07:21 PM   #2 (permalink)
SandraD
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Most cards are about 24%
 
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Old 10-24-2007, 07:21 PM   #3 (permalink)
Bob
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You pay at your card's "cash advance rate" not the "purchase rate". There is no grace period, like with purchases. Every day a cash advance is outstanding accrues interest on the amount outstanding on that date.
 
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Old 10-24-2007, 07:24 PM   #4 (permalink)
Maryn Bittner
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That depends entirely on the card and the bank that backs it. It should be in the literature you got when you got the card.
 
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