Bank converts credit card charge to cash advance

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2 posts
rratney
 
Posts: 1
Joined: Tue May 04, 2010 9:00 pm
Location: Boston

Bank converts credit card charge to cash advance

Postby rratney » Tue May 04, 2010 9:10 pm

When I withdrew a mortgage application, the mortgage company told me that there were some nonrefundable fees like surveys and appraisals. I said OK and charged the amount to my Citi credit card. When my CC statement arrived it showed an interest charge for a cash advance. Customer service told me that they treat all charges from "financial service companies" as cash advances even when there was no cash advance. Is this legitimate? Has anybody had the same experience?

Ron in Boston


DoingHomework
Centurion Member
Centurion Member
 
Posts: 707
Joined: Tue Sep 22, 2009 1:15 pm
Location: Arizona

Postby DoingHomework » Tue May 11, 2010 6:41 pm

Completely normal. What matters is the business's main line of business. Since the mortgage company mostly would take credit cards for cash payments everything they take is treated as a cash payment. It works the other way too - often if you get a cash advance on your card from a hotel you are stayig in it will appear as a "lodging" charge.



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