Withdrawing Cash on Credit card then using it to pay minimum

[CraigNewmarket]

Morning goatee wearing company directors of PH!

If my credit card balance is 1000 and the min payment is 100 and I withdraw 100 from the card then use the 100 to pay the minimum then pay 100 from my own account so the end balance would be 900 am I getting a lower interest rate?

Would this make financial sense?

Regards,

Craig

[CraigNewmarket]

No the debt would decrease to 900 as I would pay the 100 back straight away which is classed as a payment plus another 100 from my own account?

Edited by CraigNewmarket on Wednesday 25th February 09:33

[CraigNewmarket]

So my debt is down to 900 after originally been 1000?

It would actually be below 900 as the minimum payment is capital + intrest?

[CraigNewmarket]

Rules have been changed in 2011 that the most expensive intrest is paid first