Reply
Frequent Contributor
Posts: 333
Registered: ‎08-12-2011
0

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
Posts: 492
Registered: ‎07-24-2012
0

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.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12)
Current: EQ 670 (myFICO 9/8/14), EX 694 (Prosper 7/17/14) , TU 693 (WalMart 9/2/14) Goal: 700+ x3
My Wallet: Amex BCP $30k, Chase CSP VS $12.2k, Amex Zync NPSL (> 10k), C1 Venture VS $5k, Amex SPG $4.5k, Walmart (Store) $2.5k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Best Buy Rewards MC $500
My Loans: Prosper $25k/36mo
My Business: Chase Ink VS $5k
Blogger
Posts: 3,355
Registered: ‎10-19-2012
0

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....

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.