No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Just got official emails about my QS/Venture approvals a few days back.. Is it normal Cap1 gives 50% of your CL to cash advance? I was kinda surprised by this as most lenders it is 20% of your CL unless it is a CU typically.. Others I assume it is 50% as well? I would never dream of taking a cash advance on the card as I have the ring if I ever need cash that badly at $1 fee, but surprised none the less at that generousness if you call it that
@CreditCuriousity wrote:Just got official emails about my QS/Venture approvals a few days back.. Is it normal Cap1 gives 50% of your CL to cash advance? I was kinda surprised by this as most lenders it is 20% of your CL unless it is a CU typically.. Others I assume it is 50% as well? I would never dream of taking a cash advance on the card as I have the ring if I ever need cash that badly at $1 fee, but surprised none the less at that generousness if you call it that
IMO they're looking out for themselves. They would love for you to take a huge cash advance at a ridiculous APR after all.
@kdm31091 wrote:
@CreditCuriousity wrote:Just got official emails about my QS/Venture approvals a few days back.. Is it normal Cap1 gives 50% of your CL to cash advance? I was kinda surprised by this as most lenders it is 20% of your CL unless it is a CU typically.. Others I assume it is 50% as well? I would never dream of taking a cash advance on the card as I have the ring if I ever need cash that badly at $1 fee, but surprised none the less at that generousness if you call it that
IMO they're looking out for themselves. They would love for you to take a huge cash advance at a ridiculous APR after all.
Oh I agree... Just crazy they would offer me a 10k cash advance on one credit card, scary! I use to use cash advances when I was living beyond my means year back, but don't use them anymore... I was just shocked to see that kinda cash advance line on a CC... I will never take a cash advance again other then on the ring and doubtful I would ever do that since I got my **bleep** in order now and PIF each month and don't live beyond my means anymore. Vegas was my downfall years ago! thank god I got out of living there, visting is another thing, but living there isnt good for most!
My Capital One QS card has a cash advance limit set to 50% of the (initial) credit line as well. I received a CLI last week, but my cash advance limit didn't increase automatically. I'm fairly sure if I were to call them they would change it to 50% of my new CL, but since I never get cash advances I have no intention of doing this. The interest rate for a cash advance with Capital One isn't attractive, not to mention the initial fee for the disbursal.
My USAA Visa has a cash advance limit that is the same as the credit limit, and the interest rate is the same as purchases, but w/ no grace period. I've used one of the 0% access checks once to get cash for a temporary need, and all it cost was the 3% fee, which I considered a bargain. This is the *only* way I would dream of using a cash advance, and this time was truly a 'once-in-a blue-moon' event for me.
Luckily, when times get 'lean' you are able to use the credit card for nearly everything these days, even utilities. Other than the house payment/rent and car payment most things can easily be put on plastic without having to resort to a cash advance.
ok so cap1 cash advance limits are 50% of cl, thanks for the info .. ya cap1 cash advances or cash advances in general are not a good idea as we all know...
@CreditCuriousity wrote:Just got official emails about my QS/Venture approvals a few days back.. Is it normal Cap1 gives 50% of your CL to cash advance? I was kinda surprised by this as most lenders it is 20% of your CL unless it is a CU typically.. Others I assume it is 50% as well? I would never dream of taking a cash advance on the card as I have the ring if I ever need cash that badly at $1 fee, but surprised none the less at that generousness if you call it that
@Anonymous 50% is for the Venture. But the Quicksilver is another animal completely. at one point my Cash Advance limit on Quicksilver was @ 80%. Screaming at me to come get some of that cash. but no thanks. hehehe. Currently It is @ 63% of my limit. will show you Example. Had a thread on this a few months back.
From what everybody is saying, it appears the key takeaway is when it comes to Capital One cash advance limits, it's strictly YMMV.
Scary! No booze and Cap1 cards in vegas for me.. Although I could win at Blackjack lol