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Frequent Contributor
ShiningDown
Posts: 319
Registered: ‎08-12-2011

Re: Cash Advance Amount?

My citi card has  500 cash advance. Never used it.   

  HSBC  has   1,200 cash advance limit. Because I have used it so many times.

Chase has 1,200 cash advanced limit. Used this often in the past. 

Frequent Contributor
TheConductor
Posts: 491
Registered: ‎07-24-2012

Re: Cash Advance Amount?

[ Edited ]

Jlu wrote:

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.


+1 to this. In an ideal world of fully-informed borrowers, this thread would never exist.

 

Cash advances are the devil incarnate. Simply do NOT do it. Treat every card as if your cash advance limit is $0.

 

No, make that $-20, because believe me, any time you pull a cash advance they are going to find a way to make 20 bucks or more off of you.

 

Cash advances are essentially the way otherwise prime lenders get to dabble their toe in the usurious payday-loan industry pool. No thank you.

 

When I was unemployed, I found myself at a point where I was strapped for cash. I had the option of doing a credit card cash advance. Instead, I found odd jobs on the Gigs section of Craigslist and scrounged up cash mopping floors, repairing fences, and organizing closets. That was definitely the better choice.

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HiLine
Posts: 2,836
Registered: ‎10-19-2012

Re: Cash Advance Amount?

Yeah seriously, don't ever take cash advance. I tried to lower my cash advance limit to 0, but the lowest limit my creditors would allow is 200....


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