Never withdraw the cash with your credit card
By youless
@youless (112562)
Guangzhou, China
May 6, 2012 8:27pm CST
I like to use my credit card to pay online and offline as it is very convenient. However, since I have several credit cards and debit cards in my wallet. One day when I wanted to get the cash from the ATM. I should use the debit card but at that time I made a mistake and I used my credit card to get the cash. And the bank charges me high fees and I felt sorry by my mistake
1 person likes this
15 responses
@gloryacam (5540)
• Philippines
7 May 12
That's too bad. You're right, the charges of getting cash from your credit card is really big. I guess we should be very careful in that. One time, I was in dire need of cash and had to resort to using my credit card. When the billing statement came, it really hurt to see that big charge because of the cash advance.
2 people like this
@dpk262006 (58678)
• Delhi, India
7 May 12
Hi there!
Whenever we get a credit card issued we are told that hefty charges will be levied in case of cash withdrawal.
We should always remain careful about it and should never use our credit card for cash withdrawal.
I never use my credit card to withdraw cash from ATM, instead I use my Debit card to avoid paying heavy charges at the end of the month.
Hope this incident would have taught you a lesson for future.
1 person likes this
@stanley777 (9402)
• Philippines
10 May 12
I think the lesson learned here is to look at the cards properly, look at them twice before inserting them in the atm machine.
Since all cards usually look and are as big as the other. I hope you do not go through that mistake again..
Since all cards usually look and are as big as the other. I hope you do not go through that mistake again..1 person likes this
@ryanong (9665)
• Vietnam
7 May 12
It is a lesson for you to remember which one you should use for withdrawing cash...
Honestly, I don't like to own many ATM cards, it is really hard to memorize passwords also. I had many times going to the bank to ask them reset my password because long time i didn't that card then i forgot its password .
Honestly, I don't like to own many ATM cards, it is really hard to memorize passwords also. I had many times going to the bank to ask them reset my password because long time i didn't that card then i forgot its password .
@musicloverfriend (1465)
• India
7 May 12
Hello friend,You should never use credit cards or you should not even buy them.I know that every one will feel uncomfortable that they have pending money to give to bank.So it is better to use debit cards for shopping than credit cards.
1 person likes this
@musicloverfriend (1465)
• India
7 May 12
Why do you think it is good to shop with credit cards?
Remember you will have to pay the money afterwards to the bank!!
@sishy7 (27167)
• Australia
7 May 12
Credit cards have extra charges for just about everything you do with it. I transfered from my credit card account to my saving account of the same bank using its online facility, and I still get extra charge for that. I guess they treat what I did the same as getting cash from my credit card using the ATM.
1 person likes this
@sishy7 (27167)
• Australia
7 May 12
When you get a credit card, you are approved for a certain amount of credit. Whenever you use the credit facility, the creditor (such as the bank) charge you interest. Then, there are other fees associated with your credit card, such as annual fees, late fees, transfer fees, cash advance fees, etc. Some of these fees are mandatory as long as you have the credit card, such as, annual fees. And some are extra fees which can be avoided, such as, late fees.
A debit card, on the other hand, can be used in place of credit card transactions. But debit card takes the fund directly from your bank account. So if you don't have enough funds, the transaction will be declined. It's good that you only have a debit card now. You can still use it for transactions that require a credit card, yet you don't have the extra charges and fees associated with a credit card. Using a debit card will also keep you spending only within your means.
About a shopping card, I'm not sure what you mean by that. Is it like a gift card? I'd say the difference might be that a shopping card cannot be used as a credit card, and may can only be used in certain stores only.
1 person likes this
@chiyosan (30184)
• Philippines
7 May 12
Yeah! we too had an emergency one time and we were not supposed to withdraw money from our credit card but we had no choice. the fees are so high, you even get charges for withdrawing money, and then another interest for the card itself =(
1 person likes this
@williamjisir (22819)
• China
7 May 12
I am so sorry to hear your story that you lost some money for getting some cash at ATM for the use of the "wrong" card. Once bitten, twice shy. I am sure that you have already learned a good lesson from this case. Take care, youless.
1 person likes this
@Hatley (163776)
• Garden Grove, California
7 May 12
hi youless here in the US they are now most banks charging foy using atm cards in the atm which i am going to hate bu t I have a debit check card that is not suppoed to be charged so we shall'see. I do not have a credit card as when y ou nger I got int debt with one and made u up my mind never agaib.,
1 person likes this
@SomeCowgirl (32191)
• United States
7 May 12
Are the cards similar in appearance? I've noticed a lot of banks that offer credit cards tend to keep their credit cards close in appearance to their debit card, so much so that it's hard to tell the difference. Could you not back out before you withdrew money as usually a debit card asks for a pin when withdrawing from the ATM.
I'm sorry that this happened, I know I've always been told not to "borrow" from a credit card as it just gets you into more trouble financially!
Can you not get it reversed somehow?
1 person likes this
@cloud31 (5809)
•
7 May 12
Oh that was really sad,fortunately I never had such experienced.But really credit cards charges are high and that would surely regretful.I don't withdraw cash from my credit cards unless it goes with another account in one card eg. savings or current account.
So, sorry about your experienced, please be more careful next time,so it won't happen again.
Happy myLotting!
@ardoy0731 (7308)
• Philippines
7 May 12
Having a cash advance using our credit cards really cause high charges and you should pay it for just a month but still depends to the bank if they offer SIP.
1 person likes this
@thelmadacullo112659 (642)
• Philippines
7 May 12
Why friend? whats the disadvantage for withrawing with credit card? tell me so that i can watch whenever needed...
1 person likes this
@thewonderboy (7501)
• India
7 May 12
I am really sad to know that you had lost some little part of your money from your account. This tells you that you must be very careful while handling with you ATM cars and your debit card. A single mistake can make you to loss a lot. So be very conscious at what what you are doing, especially when you are handling with money related matters.
1 person likes this
