Date: Mon, 30 Aug 2004 17:27:37 +0100
From: GSV Three Minds in a Can 
Newsgroups: uk.finance
Subject: Re: Taking cash out of credit card?

Bitstring <4133543b$0$52176$65c69314@mercury.nildram.net>, from the 
wonderful person md  said
>Because of circumstances working out the way they have I'm short of money
>until the beginning of January, at which time I'll be getting a big cash
>injection. I was thinking of taking some cash out of my credit card to pay
>off my living expenses(rent,food etc) until January, when I'll then pay off
>this small credit card 'loan' in full.
>I've always paid off my credit card bill in full after every month since I
>got it in 98, and I've never used it to buy anything over £400. So using my
>card in this way by taking out a couple of grand in cash is something I've
>never done before. I also have a perfect credit history.
>Will my bank make any objection to this course of action? Basically I'll be
>living on credit until January so I'm not sure what they'll say.

They'll say 'thank you very much' and charge you a fortune in interest. 
If you want to borrow money, and can demonstrate you have the income 
arriving in 6 months time, go and TALK TO YOUR BANK MANAGER. He will 
(normally) do you a personal loan at about half the interest rate that 
the average credit card will screw you for.

Now I know it's not going to be a lot of money, but you might as well 
figure out how to do it right before you need to do it for £20k or £200k 
.. repeat after me, 'borrowing from credit cards is a mugs game' (unless 
you have an interest-free deal of some kind).

-- 
GSV   Three Minds in a Can
Outgoing Msgs are Turing Tested,and indistinguishable from human typing.