If I use my credit card to withdraw cash from an ATM, do I still get the interest-free period like I do with regular purchases, or does interest start building up right away?
No man interest-free period dont apply to cash advances on credit.If you are thinking that you will get the 50 day interest free period for cash withdrawal then you are in bid delulu my good friend😅.
You immediately start paying interest (say 3.5%/month) on say ₹10,000 — no matter when your next statement is due and also you will be slapped with 2 or 3 % fee on amount withdrawn. And also for some cards you lose interest free spending altogether, meaning any subsequent spend will also incur interest.
So i would suggest- Don’t withdraw cash for the sake of your mental peace
Happy swiping..