Question
cash withdrawal using credit card?
I am planning on going to the bank to withdrawal cash ($200) using a credit card. How much do they charge me to withdrawal this cash? What is the best/cheapest method? Is it better to withdrawal cash (from a credit card) from the bank? Or ATM? or what?
4 weeks ago - 3 answers
Best Answer
Chosen by Asker
they will charge you a cash withdrawal fee which is around 2 to 2.5 % (varies from bank to bank) and than there will be an interest of around 1.49 to 3.49% or higher. Best way will be you call up the bank and ask for a DD. You can ask for a DD upto your cash withdrawal limit. This way you'll save cash withdrawal fees and you could pay back in EMI's
by yashgifts
4 weeks ago
Asker's Rating: 
Other Answers
you can take it out of the ATM, they will charge you a nominal fee and HUGE fees (higher % rate) on the money so my advice- immediatly transfer the balance from the card you took the cash advance on to another credit card
by Dave87gn- 4 weeks ago
Usually there is a transaction fee of 3% on cash advance and minimum is $10. It does not matter if you take out from ATM or directly from the bank. But remember the interest rate on cash advance may be really high. Sometimes it is the same as purchase, but sometimes it's different. If you have any promotional offer of 0% APR on cash advance, that's better.
by Cash- 4 weeks ago
Read the most recent terms for your credit card, because if you are in the USA most are bumping the cash advance fee from 3% to 4 to 5% (with specified minimum) due to recently passed legislation that will not take effect until Feb 2010. Your usually higher cash advance interest rate starts immediately at the time you take the cash advance (no grace period). No difference from a bank or ATM, unless you use an ATM not from that bank that charges an extra fee.
by efflandt- 4 weeks ago