Ask Miles: Should I preload my credit card before I travel?

Ask Miles: Should I preload my credit card before I travel?

If I preload my 28 Degrees Platinum Mastercard with funds (ie: put the card in credit) before travel and then withdraw those funds from an ATM whilst overseas, is that considered a cash advance and therefore attracts a fee?  


Yes, and the cash advance fee for withdrawals will still be charged. 

The cash advance fee is for the provision of a service allowing you to access cash and the fee applies to any cash withdrawn from the account, whether from the credit limit or excess funds transferred there. 

Note that the 28 Degrees Platinum Mastercard is a credit card and not a debit card. Both local and foreign ATM’s will recognise the credit card that is not designed to be used as a debit account.

Cash advance fees vary but generally are charged at the greater of $4 or 3% of the transaction amount as per your financial tables and can also be viewed here under “Rates and Charges”.

General definitions for cash deemed transactions include:

  • withdrawing funds from an ATM,
  • buying currency, and
  • gambling on credit.

You should also be aware that some merchants are only set-up to accept cash transactions.

And how much cash can you withdraw on your 28 Degrees Platinum Mastercard - that would be subject to your available credit and cash limit. You can withdraw up to $1,000 per day at an ATM and up to $3,000 per day over the counter at a financial institution. 

Please note, this may be less depending on where you are in the world. Some financial institutions may limit the amount of cash you can withdraw through their facilities.

The details of your cash limit can be found on your latest statement or by logging on to the Online Service Centre.

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The products, banks and companies mentioned in this Ask Miles question and answer were correct at the time of publishing. The information published is general advice only and should not be taken as specific personal finance advice.