0% Cash Advance Credit Card

What is a 0% cash advance credit card? What is the correct way for a customer to use a 0% cash advance credit card?

Many UK credit card customers will know that credit cards allow customers to take a cash advance from the card. This is very often done, by using the credit card in a cash machine, to make a cash withdrawal.

However, any cash withdrawal taken in this way, will be charged interest at the very high rates reserved for cash advances. These types of cash withdrawals may also result in an additional fee being charged.

There is no 0% interest free period for any cash withdrawals made from a cash machine, using a credit card. The interest rate charged can often be 27% or higher. This high interest rate applies, from the time the cash is withdrawn, until it is repaid in full.

0% Cash Advance Credit Card

0 Cash Advance Credit Card

A 0% cash advance credit card, on the other hand, does allow customers to make a cash withdrawal using their credit card, and benefit from an introductory 0% interest free period.

A customer can use a cash advance credit card to make what is called a 0% money transfer. This transfers money from the credit card directly into the customers bank account. The customer can then make a cash withdrawal from their bank account to access the cash advance taken from the credit card.

When a cash advance is taken from a 0% cash advance credit card using a 0% money transfer, the customer pays no interest for the duration of the introductory 0% money transfer period. A 0% money transfer is sometimes called a super balance transfer.

Can You Balance Transfer Cash Advance?

If you have already taken a cash advance from your credit card, can you balance transfer that cash advance?

The answer is that you can balance transfer a cash advance. If a balance transfer is your preferred method of paying off the cash advance then you should make the balance transfer as soon as possible.

With the higher interest rates charged on a credit card cash advance, it make sense to apply for the balance transfer, as soon as possible. Balance transfers can take some time to clear, although most are now completed in a couple of days.

Popular 0% credit cards that will allow you to balance transfer a cash advance, include the following featured credit cards:-


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Card Offers

Balance Transfers:
0% for 25 months
Balance Transfer Fee:
2.85%
Purchases:
0% for 3 months
Representative APR:
21.9% APR (variable)
More Information

Card Details

HSBC Balance Transfer*
  • 0% interest for 25 months on balance transfers made within first 60 days of account opening
  • 2.85% balance transfer fee applies (minimum £5)
  • 0% interest on purchases for 3 months from account opening
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • Worldwide offers and discounts with HSBC home&Away
  • Manage your card online
  • Annual Fee: None
More Information

Application Criteria

HSBC Balance Transfer*
  • You have an annual income or pension before tax of £6,800 or more
  • You are a UK resident
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
More Information
Representative Example: 21.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 21.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

Card Offers

Balance Transfers:
0% interest for up to 22 months
Balance Transfer Fee:
2.99%
Purchases:
0% interest for 3 months
Representative APR:
20.9% APR (variable)
More Information

Card Details

Tesco Clubcard Credit Card for Balance Transfers
  • 0% interest for up to 22 months on balance transfers made within the first 90 days of opening your account
  • 2.99% balance transfer fee in first 90 days, 3.99% fee after 90 days
  • 0% interest for 3 months on purchases from account opening
  • Earn Clubcard points wherever you use your card, plus your usual points in Tesco. Terms apply
  • You can transfer up to 95% of your available credit limit
  • Apply online and get a decision within 60 seconds
  • Annual Fee: None
More Information

Application Criteria

Tesco Clubcard Credit Card for Balance Transfers
  • You have an annual income of at least £5,000
  • You are at least 18 years of age
  • You have a good credit history
  • You live in the UK, or have a British Forces Post Office address
  • You don't currently hold more than 1 Tesco Bank Credit Card
  • You have not applied for a Tesco Bank Credit Card in the last month or have an application currently in progress
More Information
Representative Example: 20.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.9% p.a. (variable)
No balance transfers allowed to this card from Tesco credit cards

Card Offers

Balance Transfers:
0% for 24 months
Balance Transfer Fee:
3%
Purchases:
0% for 4 months
Representative APR:
20.6% APR (variable)
More Information

Card Details

Co-operative Bank Balance Transfer
  • 0% interest for 24 months for balance transfers made within 60 days
  • 3% balance transfer fee, minimum £5
  • 0% interest on purchases for 4 months from account opening
  • All successful applicants will receive this exact rate and offer
  • Online account management
  • Annual Fee: None
More Information

Application Criteria

Co-operative Bank Balance Transfer
  • Only available to customers who have held a Co-operative Bank or smile current account for 1 month or more
  • You are a UK resident
  • You have annual income of £10,000 or more
  • You are aged 18 or over
More Information
Only available to Co-operative Bank customers
Representative Example: 20.6% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 20.6% p.a. (variable)
No balance transfers allowed to this card from Co-operative credit cards

Card Offers

Balance Transfers:
0% for 18 months
Balance Transfer Fee:
2.9%
Purchases:
0% for 18 months
Representative APR:
22.9% APR (variable)
More Information

Card Details

HSBC Purchase Plus*
  • 0% interest for 18 months on balance transfers made within first 60 days of account opening
  • 2.9% balance transfer fee applies (minimum £5)
  • 0% interest on purchases for 18 months from account opening
  • At end of promotional period, balance transfers and purchases will revert to standard variable rate
  • Worldwide offers and discounts with HSBC home&Away
  • Manage your card online
  • Annual Fee: None
More Information

Application Criteria

HSBC Purchase Plus*
  • You have an annual income or pension before tax of £6,800 or more
  • You are a UK resident
  • You are aged 18 or over
  • You do not hold an HSBC Basic bank account
More Information
Representative Example: 22.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 22.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions
No balance transfers allowed to this card from first direct, HSBC, M&S or Partnership credit cards

It is important to note that with a cash advance, after you have made your balance transfer you may still have a small interest payment to make on the old credit card due to the way the interest is charged.

Remember to check and make any payment required to protect your credit rating.

Cash Advance Credit Cards

There are over 60 balance transfer credit cards currently available in the UK. However, credit cards that allow a 0% money transfer directly to their bank account, are now quite rare.

Only a very small number of UK credit cards allowed a customer to make this type of 0% cash advance. Many of the popular cash advance credit cards, that did allow a 0% money transfer to your bank account, have now been withdrawn from the market.

A range of alternative 0% balance transfer credit cards can be found above.

Customers looking to benefit from 0% cash advance credit card offers do need to make regular repayments. Customers must make at least the minimum monthly repayment to the credit card company on time each month.

The credit card company will charge the customer a money transfer fee. This fee applies for each 0% money transfer a customer makes to their bank account. This money transfer fee is often also higher than the equivalent balance transfer fee.

A 0% cash advance credit card can also commonly be referred to as a money transfer credit card.


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