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Decrease cash advance limit

Established Contributor

Decrease cash advance limit

Has anyone ever requested to decrease their cash advance limit? DH has some bad habits, and I am hoping there is a way to lower the temptation without treating him like a kid by taking away his credit cards. I, not we, worked my butt off to repair our credit to buy our house and don't want anything to mess it up.

Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Current Score (9/3/15): Wally TU 639 | Amex EX 628 | DCU EQ 639
Goals: Homeowner as of 9/27/2013. Last app 8/1/15. TU-5; EX-16; EQ-13. Aiming for ZERO inqs.
Message 1 of 14
13 REPLIES
Valued Contributor

Re: Decrease cash advance limit

Have the PIN removed from the account. I only keep PINs on 2 of my lowver limit cards to help resist temptation.

Message 2 of 14
Established Member

Re: Decrease cash advance limit


Credit-hoarder wrote:

Have the PIN removed from the account. I only keep PINs on 2 of my lowver limit cards to help resist temptation.


That only works for ATMs, he can still go in a bank and they can run it off their machine without a pin.

Amex BCE: 3000, Discover It 2500, Capital One QS1: 1750

Message 3 of 14
Super Contributor

Re: Decrease cash advance limit

Some people doing manufactured spend set their cash advance limit to 0.   This avoids unpleasant surprises when buying a new instrument you are not sure will be counted as purchase or a cash-equivalent cash advance.  It can be easily done with a phone call.  (Of course, your spouse may not like the solution!)

Message 4 of 14
Super Contributor

Re: Decrease cash advance limit


longtimelurker wrote:

Some people doing manufactured spend set their cash advance limit to 0.   This avoids unpleasant surprises when buying a new instrument you are not sure will be counted as purchase or a cash-equivalent cash advance.  It can be easily done with a phone call.  (Of course, your spouse may not like the solution!)


+1

 

Have all my cards set to 0.  

 

Anyway, if I wanted a cash advance, there are much better ways than using their terms.  

Message 5 of 14
Established Contributor

Re: Decrease cash advance limit

Thank you all for the advice. I actually don't think my husband will go for it. Maybe I can request the change in writing. Not trying to be sneaky, just worried about re-living our past. We live in the DC area, right near PG County, MD, where casino gambling was legalized last year. Now it's too close to home. Smiley Sad

Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Current Score (9/3/15): Wally TU 639 | Amex EX 628 | DCU EQ 639
Goals: Homeowner as of 9/27/2013. Last app 8/1/15. TU-5; EX-16; EQ-13. Aiming for ZERO inqs.
Message 6 of 14
Senior Contributor

Re: Decrease cash advance limit

He should know better! A 3-5% fee plus 20%+ apr!!!!! Noooooo!!!!
You better crack the whip! Lol jk :-p
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 7 of 14
Moderator

Re: Decrease cash advance limit

I like the idea of changing all of the cards to 0 to avoid a charge posted on something you didn't know would count as a cash advance. Will look into changing mine within the week. That's why I love reading this forum.. always find new useful info. TY everyone!

Message 8 of 14
Super Contributor

Re: Decrease cash advance limit


KennyS2006 wrote:

I like the idea of changing all of the cards to 0 to avoid a charge posted on something you didn't know would count as a cash advance. Will look into changing mine within the week. That's why I love reading this forum.. always find new useful info. TY everyone!


Right, the only disadvantage is when a group of narco-terrorists seize you at gunpoint and demand that you give them $15,000 in cash within the hour or they will kill you and your family.  Then having a cash advance limit set to 0 seems like a foolish decision.

 

So best advice is to avoid such situations.

Message 9 of 14
Established Contributor

Re: Decrease cash advance limit

LOL! @longtimelurker

@youngandcreditworthy - The whips cracking, but either he ignores it, or likes it. Smiley Tongue He actually made a cash advance today, but thankfully, gave me the money to pay the card. I guess he won.

Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Current Score (9/3/15): Wally TU 639 | Amex EX 628 | DCU EQ 639
Goals: Homeowner as of 9/27/2013. Last app 8/1/15. TU-5; EX-16; EQ-13. Aiming for ZERO inqs.
Message 10 of 14