Questions tagged [cash-advance]
16 questions
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4 answers
Why do card processing companies discourage "cash advance" activities
I've been curious about something for a few days now, but I couldn't find out the reason elsewhere.
Reading through, for example, the Square terms and conditions (https://squareup.com/legal/cash-ua#limitations-on-use), they state
... you will not…
Brian Leishman
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Credit cards: How is a cash advance different from a purchase? Why are the fees so high?
I have a couple of questions about the notion of "cash advance" on credit cards.
How does the credit company decide if some transaction is a "cash advance"? Does the merchant tell the credit company it's "cash" or does it depend on the type of the…
StasM
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2 answers
Why are cash advance limits lower than my credit limit?
All my credit cards allow for cash advances. But for some reason the limit for cash advances are always way lower than my actual credit limit, why is this? If a bank trusts me with credit to purchase things, how is that different than trusting me…
Michael
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Cash Advance causes recurring interest fee after paid in full
In January I made a cash advance of $110 with my credit card.
In Februaury, I paid off January's balance (+$10 cash advance fee +$1.82 cash advance interest) in full by the statement due date.
This month, I have $1.42 in cash-advance interest even…
heyitsmyusername
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How quickly will the funds be available when depositing credit card checks?
I have credit card checks, and every time I go to cash or deposit one I get the strangest looks, like "What is this?", and the worst part is they don't have a clue on the turnaround time.
My question is: Can you get cash instantly, or do you need to…
Jeff
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What kind of credit card transactions generally count as a cash advance?
I understand that if I use my credit card to get cash from an ATM, that counts as a 'cash advance'.
Are there any other credit cards transactions that don't involve taking cash from ATM that count as a cash advance? e.g certain forms of online bill…
Victor123
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Cash advance on a credit card with a credit balance
Suppose a credit card has a credit/negative balance of $100.
If a $100 cash advance is charged to the card, which fees apply?
Cash advance fee (max(%, fixed amount))
Interest (cash advance APR)
Is there a standard way that this is handled or does…
arcyqwerty
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If I take out a cash advance, how exactly do I get charged and does it hurt my credit?
I'm in a situation where I need $2500 (USD) in cash (for a money order/cashier's cheque). I'm considering taking out a cash advance on my new US credit card.
My credit card agreement says the "APR" is 19.99% for cash advances. I'm guessing that this…
BZillums
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Does a cash advance hurt your credit or (official) reputation in any way?
Does a cash advance hurt your credit or (official) reputation in any way? Does it appear in records at all, and would it be frowned upon if it did? What if the cash advance were taken at a casino?
I know seeing the words "cash advance" and "casino"…
Andrew Cheong
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Logic behind personal credit rating and cash withdrawals
On the one hand it is usually recommended to spend money with credit card because this might have positive impact on your personal credit rating (of course, if you always pay on time). On the other hand it is highly discouraged to get cash advance…
Slimboy Fat
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Is donating money to charities / non-profits with a credit card considered a cash advance transaction?
I'm UK based. I know that credit cards charge extra cash transaction fees for not only getting cash from the ATM but also for things which are not quite cash like crypto, gift cards or gambling. Is donating money to a charity also considered a cash…
KubaFYI
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What are the implications of withdrawing cash from my credit card immediately after paying it off?
I recently went to a conference in Boston with 3 other students from my university. To make things simpler with the reimbursement process (or so I thought), I paid for everything (airfare, meals, etc. for all of us) on my credit card with a $2,000…
Chris Cirefice
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How to withdraw cash from a credit card if the cash advance limit has been reached
I have a German bank account and a Visa credit card attached to it, but left Germany some time ago and live in a non-European country.
Last Monday a bank officer from the German bank called me on my German mobile number, which I still retain. He…
Sandra
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Statement credit forfeited on American Express card
I signed up for an American Express credit card which was advertising a $225 bonus upon signing up for the card and spending some $1200 in the first six months, which I did and received the cash reward. For the 4 other credit cards I have owned in…
Aritro Pathak
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Is it possible to get a VISA card without support for cash advances (debit)?
I have a VISA card from a major USA bank. I always ask if I can have a card without support for DEBIT (cash advances). I'm wondering if VISA even allows that.
In case you're curious for the reason why: I never use that feature, and in the USA, every…
Harvey
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