Never withdraw cash from your credit card if you can possibly avoid it. Ever. Interest on cash withdrawals is charged at a far higher rate than normal transactions – up to 25% in some instances. Adding insult to injury, you’ll also be charged a fee for using the cash machine when you withdrew the money. Even if you pay your off your balance in full every month you will be out of pocket, because interest is charged on cash withdrawals from the day you take it out.
Articles & Guides - Order of payments
Got a nice deal on your balance transfer? Either 0% for a limited period or a lifetime deal for a few percent? Then ensure you never use that card again. Because if you do, you will be charged the card's highest interest rate on the new spending until the very last of your balance transfer is paid off. This is because almost all card providers use your repayments to pay off your cheapest debts – such as balance transfers – first, which means your additional spending collects interest for as long as possible.
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