Cash Like Transaction - Credit File

  • Josha319's Avatar
    Fresh Eyes
    Hello all,

    I recently made a transaction on my credit card which I had no idea would be classed by Tesco as a “cash like” transaction. I’ve been changed a small fee, which is fine, however I’m going to be applying for a mortgage in a few months and wondered if anyone knows if Tesco will put anything different on my credit file because it’s been classed as “cash like”?

    Will this be treated the same as making a cash withdraw from an ATM and show up on my credit file?

    Thanks I’m advance.
  • 2 Replies

  • Verified Answer

    KellyT's Avatar
    Your Community Expert
    Verified Answer
    Hi @Josha319, thanks for your message. When you make a cash transaction, we charge a fee of 3.99% and interest at your standard cash transaction rate. This is from the date of the transaction until the date this cash balance is paid. We consider the following types of payments to be cash transactions: wire/international money transfers, repaying borrowing, purchasing non-Sterling currency outside of Tesco, payments to prepaid or virtual cards, purchasing gift cards, investments and share trading. This could potentially impact future applications for credit but we wouldn't be able to say for certain. It would be best to check with a credit reference agency for some more information.

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  • 25H's Avatar
    Community legend
    Hi @Josha319

    This should not have any impact on your credit score, however it may affect future credit applications.
    However I would suggest you send Tesco Bank a private message from here.
    Click on this link:
    Complete it with your message and include your full name, date of birth and postcode.
    Click 'Submit Message' and this will send your message securely and privately.

    You will receive a reply.

    Warm wishes, Caz @25H