... Must admit I have never checked the exchange rates and compared CC Transaction vs Cash withdrawal (I do get charged £1.50 for a foreign Cash withdrawal). Might go back and check last years. ...
Hi, Ploppy,
I may have misunderstood that bit .... but NEVER use a CREDIT card to withdraw cash unless there is no other option!
First off, the card company will start charging interest from the date of withdrawal - no grace period (and depending on which card company, at a higher rate than normal).
Secondly (again, depending on which card company) any payments you then make into the account will be paid-off against purchases before cash withdrawals - so they give themselves a bigger bite of the cherry.
Last but not least, any business which accepts card payments will
probably charge an extra premium, to cover their charge from the card company.
I would always try to draw cash on a DEBIT card and use that to pay - assuming I hadn't got enough cash to start with.
Next time you see that ad. that asks "What's in your wallet?", you'll know the answer is "You thieving b******s!".