Cash Advance Charges

  • Hud's Avatar
    Fresh Eyes
    Hi, I'm new to this.
    I've had my credit card for a couple of months now.
    I pay it off before the minimum payment is due.
    But, I've had two payments go out on the 29th of each month for a cash advance?
    Is this interest?
    I can't figure out what else or would be?
    Thank you in advance for any help.
  • 1 Reply

  • Verified Answer

    ChristopherP's Avatar
    Your Community Expert
    Verified Answer
    @Hud Hey there, thanks for getting in touch!

    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: gambling transactions, wire/international money transfers, repaying borrowing, purchasing non-Sterling currency outside of Tesco, payments to prepaid or virtual cards, purchasing gift cards, investments, share trading and spread betting.

    Have you made any of those types of payments? If so, you will see interest charged over two statements. The first statement will show the cash transaction fee and the interest from the date of the transaction until the statement came out. The second statement will show interest accounting for the period between the first statement coming out and the balance being paid in full. After this there’d be no more interest applied to this specific transaction.

    I hope this clarifies things for you.


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