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New Member
NewBie09
Posts: 5
Registered: ‎05-04-2009
0

Anyway to get cash from CC without treating as cash advance?

Hi everyone, I'm new to this forum so if I did anything stupid, please don't hesitate to tell me..... Recently I need to pay something that only accept cash, check or money order. I want to use my credit card to pay, but looks like if I get cash or convinent check they will treat it as cash advance. So I'm wondering if there is any method to get cash from CC without treating as cash advance? I heard some people said I can buy a "allacess visa gift card" with my credit card and then use the gift card to buy money order. Did anyone try that? Thank you so much.
New Contributor
thoughts1
Posts: 110
Registered: ‎01-12-2009
0

Re: Anyway to get cash from CC without treating as cash advance?

you can also buy presidential 1$ coins from here

https://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?langId=-1&storeId=10001&catalogId=10001&identifier=8100

 

BUT it could take up to a month for them to actually charge you and ship, they are slow...depending on how fast/slow need the cash of course.

 

the visa gift card is a good idea as well.

Established Member
Jazzy8104
Posts: 33
Registered: ‎02-26-2009
0

Re: Anyway to get cash from CC without treating as cash advance?

Paypal!!!

 

Set up two accounts, a "to" account and a "from" account and send urself a payment from ur cc. You should then be able to transfer that money into your bank account. I haven't tried this myself yet but it works in theory. Let us know!

New Contributor
kyobakes
Posts: 59
Registered: ‎04-28-2009
0

Re: Anyway to get cash from CC without treating as cash advance?

if you have a discover card, you can get cash back at walmart at checkout...

 

how much are you talking?

 

Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008
0

Re: Anyway to get cash from CC without treating as cash advance?

A few details would be helpful.

 

1.  What type of card and who is the issuing CCC?

2.  Does your card offer cash advances or is there no cash available and can only be used for purchases?

3.  Are you trying to avoid the day 1 interest accrual or advance fees?

 

Generally if you have a card with cash advance, there will be immediate interest accrued and a cash advance fee on the transaction.  However, some cards may not issue a cash advance option, meaning they only allow for purchases and not for any cash transactions.

 

There are a variety of "cash" out methods, all of which would be called cc factoring.  Most cash transactions that are not "cash advances" per your terms are prohibited and can cause the issuer to suspend or cancel the account if they find out.

 

My younger brother had an AMEX and used Paypal to send money to a friend.  AMEX froze the transaction and cancelled the card.  He had a perfect payment history, but when he called in they would not budge and would not reopen the card.  Paypal codes the transaction if you are sending "quasi-cash" or if you are making a purchase (shopping cart or auction associated).  If the card issuer doesn't like the transaction they may decline it and worst case may take AA on the account.

 

With that said, Visa and MC usually are less sensitive to this than AMEX who monitors very closely. 

 

Also, if you use Paypal, they charge a "discount" of approximately 3%, so you do not avoid a type of "fee" on the transaction.

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New Member
NewBie09
Posts: 5
Registered: ‎05-04-2009
0

Re: Anyway to get cash from CC without treating as cash advance?

My CC is a US Bank College Student Card (VISA) and I also have a bank account associate with it.

 

I need to pay rent about $700 every month and I want to use my CC to pay it because:

1. sometimes I don't have enough cash or money in checking account when the rent is due...

2. I want to earn some points through this transaction

 

I know my card has cash advance and the APR is 21% and also 4% transaction fees, so it would be pretty expensive.

 

If I can buy, say, all acess gift card with my credit, then I only need to pay $5 for a $500 card

 

I didn't try the paypal method yet, did anyone succeed?

Established Contributor
Watchmann
Posts: 985
Registered: ‎05-14-2008
0

Re: Anyway to get cash from CC without treating as cash advance?


txjohn wrote:

 

My younger brother had an AMEX and used Paypal to send money to a friend.  AMEX froze the transaction and cancelled the card.  He had a perfect payment history, but when he called in they would not budge and would not reopen the card.  Paypal codes the transaction if you are sending "quasi-cash" or if you are making a purchase (shopping cart or auction associated).  If the card issuer doesn't like the transaction they may decline it and worst case may take AA on the account.

 

With that said, Visa and MC usually are less sensitive to this than AMEX who monitors very closely. 

 

Also, if you use Paypal, they charge a "discount" of approximately 3%, so you do not avoid a type of "fee" on the transaction.


If you are sending 'quasi cash' perhaps it is more visible to AMEX, but I use my AMEX Optima (had since 1990) as a backup funding source for my Paypal account (checking account is primary) if I am buying something expensive on eBay (mainly high end stereo gear and wristwatches).  During 2008 I used my AMEX account to purchase five expensive items (highest single transaction was $4,350, total value $14,300) and never heard a peep from AMEX.  When you buy something on eBay and use Paypal AMEX is paying Paypal the funds and then Paypal pays the vendor after duducting their 3% or so.  So AMEX will approve the charge based on your credit situation, they really don't care what you are buying or who will eventually get the money, it is just a payment to eBay.  Not sure what AMEX saw in your brother's situation that made them close the account, perhaps Paypal was just the trigger event.  I've also used my Visa card for similar charges on eBay and never had a problem there either.  You have to keep a super clean record with AMEX and PAYPAL to stay in their good graces, once you start initiating chargebacks with Paypal all bets are off.  People either love or loathe Paypal but so far I've not had any issues with them since I've used them since 2002.

New Contributor
kyobakes
Posts: 59
Registered: ‎04-28-2009

Re: Anyway to get cash from CC without treating as cash advance?

Oh, man...You won't earn points on a cash advance transaction.  Paying RENT with credit...well, that's never a good idea/sign.  I guess, if you're desperate, you could ask your landlord to accept paypal, but he would probably just laugh in your face!
Senior Contributor
MattH
Posts: 3,240
Registered: ‎04-03-2008

Re: Anyway to get cash from CC without treating as cash advance?


NewBie09 wrote:

My CC is a US Bank College Student Card (VISA) and I also have a bank account associate with it.

 

I need to pay rent about $700 every month and I want to use my CC to pay it because:

1. sometimes I don't have enough cash or money in checking account when the rent is due...

2. I want to earn some points through this transaction

 

I know my card has cash advance and the APR is 21% and also 4% transaction fees, so it would be pretty expensive.

 

If I can buy, say, all acess gift card with my credit, then I only need to pay $5 for a $500 card

 

I didn't try the paypal method yet, did anyone succeed?


My friend, you are skating on very thin ice here, you should really clamp down hard on spending until you have built up a sufficient cash reserve.  The desire to get cash from a credit card is like white smoke coming out of your computer: a sign that something is failing.

 

 

 

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Frequent Contributor
illtakecreditforthat
Posts: 320
Registered: ‎05-03-2009
0

Re: Anyway to get cash from CC without treating as cash advance?

I agree with the previous posts -- not a good idea to take cash from CC.  However, (there's always a however) if you have a CC and checking account from the same institution, you can request that your CC be used as overdraft protection for checking account.  The advantage is no cash advance fee (ususally 3-4%). usually a $5 transaction fee.  I don't know if they would charge same interest as cash advance.  I'd check with US Bank
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