Looking for a card

For just about anything you want to get off your chest about credit cards.
6 posts
Savannah_az
 
Posts: 1
Joined: Thu Jan 07, 2016 6:24 pm

Looking for a card

Postby Savannah_az » Thu Jan 07, 2016 6:29 pm

Looking for (if it exists) a decent sign up bonus WITH a no interest for at least 18 months on cash advance card.


User avatar
Vattené
Centurion Member
Centurion Member
 
Posts: 1219
Joined: Sun Jan 26, 2014 3:55 am
Location: US

Re: Looking for a card

Postby Vattené » Thu Jan 07, 2016 7:45 pm

You want no interest on cash advances? I've never heard of a card that offers that.

Cash advances are treated completely differently than purchases. It's pretty common for cash advances to be subject to a higher interest rate than the regular APR for purchases, to be exempt from introductory 0% APR periods, and even to be excluded from grace periods (so even if you're paying in full, interest on cash advances will start accruing immediately). Discover lets you take cash over a purchase, which may be your best option. You can't get it from an ATM, but you go somewhere like Walmart and make a normal transaction. When you swipe your card you can choose an amount of cash to receive, which is added to the transaction amount.

Something may be out there, but if you're consistently needing cash a credit card is not a good way to go about getting it.
-Vattené
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4447
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Looking for a card

Postby CarefulBuilder14 » Thu Jan 07, 2016 10:59 pm

If you take a cash advance on one card (like the no-advance-fee Barclaycard Ring, or certain cards from Fort Knox or PenFed) and then quickly (within days) do a balance transfer to another card, I suppose that could accomplish something similar.

It would still be very risky, and I wouldn't suggest doing it.

Or could a cash advance, under some circumstances, not qualify for a BT when a balance from a purchase would?
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Vermonster
Centurion Member
Centurion Member
 
Posts: 725
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Re: Looking for a card

Postby Vermonster » Fri Jan 08, 2016 12:19 am

CarefulBuilder14 wrote:If you take a cash advance on one card (like the no-advance-fee Barclaycard Ring, or certain cards from Fort Knox or PenFed) and then quickly (within days) do a balance transfer to another card, I suppose that could accomplish something similar.

It would still be very risky, and I wouldn't suggest doing it.

Or could a cash advance, under some circumstances, not qualify for a BT when a balance from a purchase would?


I think theoretically you can, but that is a dangerous game.

I would look towards a card that will give you the "BT" checks. You are allowed to write one to yourself for any amount. It would have a 3% fee, but would still fall under the 0% period. I got those checks when I received my Citi card.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

kdm31091
Centurion Member
Centurion Member
 
Posts: 1074
Joined: Sat Feb 21, 2015 3:35 pm
Location: Claymont, DE

Re: Looking for a card

Postby kdm31091 » Fri Jan 08, 2016 7:27 am

I don't want to lecture you, but if I were you I'd really look into why I was needing cash advances. They should be a basically last resort when you have no other options. Taking out a new card to then use for cash advances isn't going to look great to whichever creditor you choose.

I'd just take a step back and evaluate the situation and see if you have any other alternatives. Credit cards are by far not the best choice for getting cash.

takeshi
Centurion Member
Centurion Member
 
Posts: 1741
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Looking for a card

Postby takeshi » Fri Jan 08, 2016 8:17 am

Savannah_az wrote:Looking for (if it exists) a decent sign up bonus

Decent is always highly subjective. Give us a number or a range. Never assume that what you consider "decent" is the same as what others do or do not.

Savannah_az wrote:WITH a no interest for at least 18 months on cash advance card.

Good luck with that. I'm not aware of any. Cash advances are generally seen as risky to creditors. Be careful relying on them. As stated above, if you need cash advances then you probably have bigger issues to address.

Also, as stated above, BT checks in some cases can be used to obtain cash. Depends on the terms of the BT checks provided.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 3 guests