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purchase interest

Posted by mishelle-lee mishelle-lee
Message 1 of 2 928 Views

what is the difference please between purchase intrest and cash advance interest and why and i getting fees for both on my creditcard every month?

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Re: purchase interest

Posted by SarahF SarahF
Message 2 of 2 923 Views

Hi @mishelle-lee, I can certainly help with this Smiley Happy  When you draw cash against the credit limit or utilise the funds transfer facilities via Bankwest Online Banking to transfer funds from your credit card account, it is deemed as a cash advance. A Cash Advance Fee of 2% or $4.00, whichever is the greater, will apply if the account is in debit after the withdrawal. Purchase interest is charged on any purchases you make with the credit card.

 

Hope that clarifys the difference between the two.

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