lovetravellingoz
Enthusiast
- Joined
- Jul 13, 2006
- Posts
- 12,704
I think that you may be confusing two different fees/charges. The part you cut off from my post was myself saying that the interest would still be charged, and not the cash withdrawl fee while overseas..
One is the withdrawl fee. The other is the interest charge for the cash advance.
On top of the upfront fees, remember that on any cash advance on a credit card interest is charged immediately, regardless of any interest-free period applying to purchases. The exception seems to be as the Oz-bargainer reported if the card has a pre-paid balance on it. This used to be the case for 28 Degrees, but then cracked down on people doing this practice.
Credit card cash advance | ANZ
No interest-free days
Unlike your purchases, where you could get up to 44 or 55 interest-free days (depending on your credit card), you start paying interest from the moment you make the cash advance. Bear in mind that the interest is charged on a daily basis.
A cash advance will always attract interest, regardless of whether you have interest free periods on your credit card account. With cash advances it’s important to know that interest will generally be charged from the date of the cash advance and will continue to be charged on the outstanding cash advances balance until you pay off that transaction balance (including any previously billed interest, fees and charges) in full. You may avoid being charged interest on a cash advance if your credit card account is in credit (by at least the amount of the cash advance) at the time of the cash advance. Your account may be in credit if, for example, you have previously paid more off your account than you owe.
Learn more about interest-free days
Cash Advance Fee
You may also have to pay a Cash Advance Fee (usually the greater of a percentage of the cash advance amount or a minimum fee), in addition to the interest charges. This fee will be added to your cash advances balance, which means you will also be paying interest on this.
Also See Term 12.
12. Standard annual percentage interest rate is 20.24% p.a. on purchases, 21.74% p.a. on cash advances and 21.74% p.a. on standard balance transfers as at Thursday, 23 February 2017 and is subject to change.
From just taking a look now if you can see somewhere where the interest fee charge is exempted please point me to it as I cannot see where this is stated.
Last edited:
for using this card, which I have read the points rule book. But at least a free return flight is provided!
