10-19-2012 12:25 PM
10-19-2012 12:36 PM
Call and ask because i have a citi card with 6k limit and my cash advance limit is only $300
10-19-2012 02:27 PM
Each card has it's own cash advance limit check your statement.
I think one of my Amex has $2000 cash on 10K limit.
10-20-2012 10:02 AM
You mean they'll let you take out $2000 with a $100 fee and 25% interest with no grace period? HOW GENEROUS.
10-20-2012 10:13 AM
If your Citi card offers you a BT, you can actually take the BT offer and have the funds direct deposited into your checking account (they are very quick about it). So if the BT offer came with X months at 0%, you would just have to pay the 3% BT fee. No interest as long as you repay the money within the 0% time frame.
We just did this. Had to replace our furnace last week and I used my Cash+ card to pay for it (to earn rewards), then used my DH's Citi Simplicity to do a BT and I chose to have the money direct deposited into our checking account (the same acct we have linked to Citi to pay our bill each month). The BT had a 3% fee, but it's 0% until December 2013.
The terms are way better than a cash advance would be. And Citi direct deposited the funds into our checking account the very next day. I was impressed!
10-20-2012 10:18 AM - edited 10-20-2012 01:16 PM
My golden rule is don't charge anything you couldn't otherwise buy with cash unless it is an asset (home, car, equities etc). This rule plays back in my head each time I swipe my card. However if you are taking out a cash advance it is due to the fact that you don't have any (cash) thus it is in and of itself a violation of my rule.
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