Comparing UK 0% credit cards online since 2002What is a cash advance credit card? What are the best cash advance credit cards in the UK?
These are some of the most common questions, regarding a cash advance credit card, that we see on a regular basis.
Most of the over 60 UK credit cards available today, with 0% offers, can be used as a cash advance credit card. A credit card cash advance is most common, when a customer uses their credit card in a cash machine, or ATM, to withdraw money.
Some card companies, also treat gambling or betting transactions as a cash advance. Other companies, treat the purchase of foreign currency, or travellers cheques, using a credit card, as a cash advance as well.
Cash Advance Credit Card
A cash advance on a credit card is often very easy to do. You simply stick your credit card in a cash machine and enter your PIN. However before you do that, you need to be very aware of just how expensive this type of transaction can be.
Using any credit card to make a cash withdrawal from a cash machine will lead to both fees and interest charges. These fees and charges apply as soon as you take the money out of the cash machine.
Unlike with a normal purchase, made using your credit card, there is no interest free period on a cash withdrawal. Interest will be charged from the day you take the money out of the machine, until the withdrawn amount is repaid in full.
Cash advance interest rates are often much higher than the typical credit card rate, which is typically around 19.9% APR variable. Almost all UK credit cards charge a fee, when cash advance credit cards are used to make a cash withdrawal from a cash machine.
Typical cash advance fee and interest rates are as as follows:-
Barclaycard Cash advance: 2.99% fee (min £2.99) and 27.9% APR
HSBC Cash advance: 2.99% fee (min £3) and 27.9% APR
Cash Advance Credit Cards
With the above expensive fees and high interest rates on cash withdrawals, the best cash advance credit cards are actually those credit cards that allow customers to make 0% money transfers.
A money transfer credit card is a credit card that allows a customers to transfer money from the credit card directly into their bank account. A large number of the UK credit cards that did allow 0% money transfers to be made have now been withdrawn from the market. There are still a few cards available. However these credit cards will typically charge a higher fee of up to 4%, for each money transfer.
For many customers a balance transfer credit card may offer a better choice. The customer can transfer the balance from an existing credit card and pay no interest on the amount transferred during the offer period.
The following featured credit cards have a variety of 0% offers allowing customers to save money on interest payments:-
0% Credit Card Expert may receive commissions from some of the credit card companies that we refer users to. How this site works.
0% Credit Card Offers
Credit Card Details
- 0% interest on balance transfers for up to 27 months
- 3% balance transfer fee (minimum £3) on transfers made at application
- 0% interest on purchases for your first 3 months
- Collect 2 Nectar points per £1 spent on Sainsbury's shopping and fuel
- Collect 1 Nectar point for every £5 spent on your card elsewhere
- Online account management
- Annual Fee: None
Application Criteria
- You have a permanent UK address
- You have not been declined for credit in the last month
- You do not have a history of bad credit
- You are aged 18 or over
0% Credit Card Offers
Credit Card Details
- 0% on balance transfers for 23 months from account opening
- 1.99% balance transfer fee
- 0% on purchases for first 3 months from account opening
- Lock and unlock your credit card in app
- Manage your card 24/7 online and by telephone banking
- Annual Fee: None
Application Criteria
- You are a NatWest customer
- You are a UK resident
- You are earning at least £10,000 per year
- You are aged 18 or over
0% Credit Card Offers
Credit Card Details
- 0% interest on balance transfers for 26 month from date account opened
- 0% balance transfer fee
- 0% interest on purchases for 26 month from date account opened
- 0.5% cashback on all of your purchases
- No foreign transaction fee on purchases made abroad in local currency
- Cashback through Retailer Offers
- Monthly Fee: £3
Application Criteria
- You are a permanent UK resident
- You have a good credit history with no history of bad credit
- You have an income of £7,500 per year or more
- You are at least 18 years of age
0% Credit Card Offers
Credit Card Details
- 0% interest for up to the first 20 months on balances transferred within first 90 days
- 2.95% balance transfer fee during first 90 days, 3% fee applies afer 90 days
- 0% interest on purchases for up to the first 20 months
- Internet fraud protection and Clicksafe
- Online card servicing
- Annual Fee: None
Application Criteria
- You are an existing TSB customer
- You are not currently declared bankrupt, have CCJs or subject to IVA
- You have a good credit rating and regular income
- You are a UK resident
- You are aged 18 or over
So, in summary a cash advance credit card is when a customers uses a credit card to make a cash withdrawal using the card.
Gaming or betting transactions, and using the card to purchase foreign currency can also be treated as cash advances. When such a transaction is made fees and interest will be charged as soon as the transaction is made.
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