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BOA Cash Advance Fees

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marty56
Super Contributor

Re: BOA Cash Advance Fees


@Anonymous wrote:

Have you ever made a payment to someone through Western Union using the card? My brother once paid an electric bill through Western Union (it was the only online option allowed at the Utility Company) and his cc company charged him a cash advance fee+higher interest rate.



I was also thinking that as well.  Is it possible that a recorring charge was coded wrong.  Is it possible that a cash advance fee would be spread out over time rather than asingle charge?  For example, if you did a 5k adavance at 3%, that would be 5 * $30 = $150 with a $15 charge each month for 10 months? 

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 11 of 14
jausanka
Frequent Contributor

Re: BOA Cash Advance Fees


@Anonymous wrote:


Can anyone explain...­Isn't it illegal to charge someone a fee for a cash advance when cash advance has not been made....Pl­ease let me know if there is a class action lawsuit I can start or join regarding this matter...I am now making quadruple payments on their credit card so I can be through with BOA.



This board is a great resource for credit information, and if you provide us with some additional details, I am sure we can help you get it straightened out, no problem.  I don't think you need a lawyer for this one...

 

What exactly does the bill say where you are seeing this fee?  What transactions show on your statement?  Are you sure you are not seeing "Interest Charged on Cash Advances" in your transaction list?  At the bottom of the statement, there is a section that says "2011 Totals Year-to-Date" with a line for Interest Charged and Fee charged.  What do those totals say?

Message 12 of 14
jausanka
Frequent Contributor

Re: BOA Cash Advance Fees

 

@marty56 wrote:

@Anonymous wrote:

Have you ever made a payment to someone through Western Union using the card? My brother once paid an electric bill through Western Union (it was the only online option allowed at the Utility Company) and his cc company charged him a cash advance fee+higher interest rate.



I was also thinking that as well.  Is it possible that a recorring charge was coded wrong.  Is it possible that a cash advance fee would be spread out over time rather than asingle charge?  For example, if you did a 5k adavance at 3%, that would be 5 * $30 = $150 with a $15 charge each month for 10 months? 


 

Or you could have an average daily balance of $822 leftover from that cash advance you did in September October of 2010 and you are paying $13 in interest on it at 19.24% cash advance APR...

 

*Edited to correct date

 

Message 13 of 14
TravellingNomad
Established Contributor

Re: BOA Cash Advance Fees

i had a boa card for a couple of years.  i used this card to order anniversary/birthday gifts online for my wife and kids.  i was always ordering stuff on the same website for two years without any problems with my billing statement.  and then all of a sudden, the last online order i made was treated as a cash advance.  and like OP, i noticed it when i reviewed my statement.  i called boa to let them know it was a mistake...and like OP, i was pretty much told that i made a cash advance and that i will have to suck it up and pay what i owed.  i even told them to review my previous transactions that they have never treated my purchase with this company as a cash advance before.  but they would not budge.  so i got po'd and decided to cancel the card right there and then.  they never did correct their billing.

Message 14 of 14
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