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    I've just been pondering as to whether or not you start paying interest from Day 1 if you get cashback after a transaction? Like say I'm in Tesco and get £80s worth of shopping, would I then be charged if I asked for like £20 cashback? Do they even do cashback on credits cards? lol

    It's only just occurred to me that I had no idea
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    I don't think you can get cash back on credit cards.
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    I don't think many places do cashback on credit cards. But, as it would be counted as a cash advance, I think you would be
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    (Original post by _MaLc_)
    I've just been pondering as to whether or not you start paying interest from Day 1 if you get cashback after a transaction? Like say I'm in Tesco and get £80s worth of shopping, would I then be charged if I asked for like £20 cashback? Do they even do cashback on credits cards? lol

    It's only just occurred to me that I had no idea
    In the context of credit cards it's known as a "cash advance" and generally yes, you will pay interest (at a very high rate) from the moment you take the cash. It's a very bad idea as a result! As ever, it's worth checking your card's T&Cs to confirm the specific details (they'll be online if you don't have/haven't kept the printed copy you'll have received).

    While you may be quite unlikely to be offered this at retail stores (due to the high interest), the reason this is still an issue is that you can make cash withdrawals from ATMs using a credit card, with the same effect.
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    You can't get cashback when using a credit card.

    You may be able to use a credit card to get a cash advance from the ATM (not all cards do, my dad's £10k Barclaycard has a £0 cash advance limit) and you'll probably be charged about £3 for this (although I've found if you do it from a ATM that charges then you're only charged that charge, but I've only ever done it once so that could have been a fluke).
 
 
 
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