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UK Answer: Some credit cards have a separate 'cash limit' meaning that you can onl withdraw a certain percentage of your credit limit as cash. This is an area in which credit cards vary greatly from company to company, but almost every company charges a higher interest rate on cash withdrawals (the only difference is how much higher), each company charges a cash advance fee of at LEASE 1.5% upfront (this is under Visa rules, it stops customers withdrawing cash to make the minimum payments on their cards) and what's worse is that most cards ensure that your payments pay the lowest interest accruing balance before the highest - thereby maximising the interest you pay to the banks. If your card is overlimit when you try it in the cash machine it will simply be returned. However if you have broken the agreement you have with the credit card company or have arrears, they may well have keyed what's known in the business as a 'retain marker' in which case the machine will keep your card.

by Andy E

2 months ago

Asker's Rating: 

stay away from credit cards!!! stick to debit cards.. that way you know you can only spend the money that you do have.....

by Jorge P- 2 months ago

You can withdraw the cash withdraw limit stated in your credit card account. If you don't know the exact limit amount, try to ask the credit card provider. In your 2nd question, "did the machine hold our cards or not", The will not hold your card instead the machine will inform you about your limit. I used to read below source in dealing any credit card concerns.. You can it as your guide :D

by Joan- 2 months ago

Hi! You should have some details that came with your credit card stating your credit card limit and your cash withdrawal limit. The cash withdrawal limit is the amount of cash you can withdraw on your card on a daily basis, though please bear in mind, this is a costly way to get cash - not only do you pay a fee for the pleasure of withdrawing the money but you are also charged a higher rate of interest on the withdrawal if you do not pay your balance in full each month. A cash machine is not privy to your account information and will not, therefore, tell you what your cash withdrawal limit is. Also, if you try to withdraw an amount three times from the machine on the same day and you are declined, your credit card issuer will place a hold on your account meaning you will be unable to use it. This is done as a security measure - in case someone else has got hold of your card and is trying to obtain cash - and if this happens, you will need to contact your card issuer and confirm that it was you trying to withdraw the money before they will release the hold. Hope this helps.

by 71cooldude- 2 months ago

Card information is with the card provider = the machine contacts them (actually, their computer) by phone when you withdraw money .. Each card has it;'s own cash limit - anything from £100 to £500 and you pay interest (often at some higher rate than purchases, i.e. typically 20 to 25%) from the day you withdraw (and some also impose a cash withdrawal fee, typically £2.50 or 2.5% whatever is higher) .. Anyone withdrawing cash from a Credit Card must be desperate and is plainly living beyond their means .. sooner (rather than later) it's going to all come crashing down .. STOP SPENDING MONEY YOU DON'T HAVE NOW ..

by Steve B- 2 months ago