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Cash Credit Line: How does it report to CC records?

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Bpearl2010
Regular Contributor

Cash Credit Line: How does it report to CC records?

So here is the run down of what I am trying to do.

 

I am getting married and I have to pay a venue $3,750. However, they do not accept CC payments; it has to be paid with either Check or Money Order. I have the money to pay them with a check, but I was wonder if I should do a Cash withdraw from my Bank Of America Cash Rewards card and deposit it into my BOA Checking and pay the venue with a check.

 

Then after the check post and funds are withdrawn deposit cash into my BOA checking and pay off the $3,750 balance on the credit card?

 

Confusing but trying to see if it's worth it, so that BOA Cash rewards credit analysts see high usage?

Message 1 of 3
2 REPLIES 2
Revelate
Moderator Emeritus

Re: Cash Credit Line: How does it report to CC records?

It would count as a Cash Advance.  

 

Historically banks have tended to frown on these from anecdotal reports; personally I would never do that but that's me.  No grace period on it typically, doesn't count as a purchase, and tradeline use I consider to be less important than not doing something which a lender may just not like for whatever reason.

 

I don't know how BOFA looks at them explicitly, maybe it's OK, but I sort of view it as leaving a loaded revolver in a room full of 3 year olds.  

 

Write the check imo.




        
Message 2 of 3
Bpearl2010
Regular Contributor

Re: Cash Credit Line: How does it report to CC records?

Thank you for information!! Yeah, see I never knew that they could see it as a Cash Advance.

Message 3 of 3
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