From: "Andy Pandy" 
Newsgroups: uk.finance
Subject: Re: Best High Street place for get Euros
Date: Sat, 22 May 2004 16:53:07 +0100


"Jane Tweedynn"  wrote in message
news:2h91irFahgv7U1@uni-berlin.de...
> > Also you can avoid most of the interest on your Nationwide CC by paying
> off the
> > amount of your cash advances as soon as you get back off holiday - instead
> of
> > waiting till when your next normal payment date. Their payment allocation
> system
> > works in your favour as payments are set against cash advances first.
> >
>
> I didn't know that, and if they do its rather decent of them.
>
> So it depends on when they calculate the additional payment.  For instance
> suppose you have £500 on credit card and you make an interim payment of £200
> because you expect to withdraw £200 in cash in a few days time, does the
> £200 go against the first £500 because you have yet to withdraw the cash or
> is the payment not calculated until statement date at which time it will go
> against the cash advance.

It'll go against what's currently on the card (including spending in the current
month which is due to appear on your *next* statement), so paying in advance is
no use unless your card is completely clear and you don't intend to make any
purchases before your cash advance(s).

> If it is the latter people could therefore prepay their Nationwide credit
> card (if they are the pay off balance in full each month then they can do it
> at any time whereas people with a balance will have to wait until after
> their payment date has expired) with their expected currency withdrawal and
> will not pay any interest charges.

No, because whether or not you pay your balance in full every month, there could
still be outstanding transactions in the current month, if you pay in advance
the amount you pay will be set against these.

If you travel as a couple and you both have your own cards (not 2 cards on the
same account) then you could use one for purchases and the other for cash
advances and pay the latter in advance making sure there's nothing outstanding
on it first.

But it's probably less bother to open a flex account, then you avoid the fee as
well.

--
Andy