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Getting a Cash Advance Could Itself Trigger AA?

Frequent Contributor

Getting a Cash Advance Could Itself Trigger AA?

I've never gotten a cash advance because I've always been paranoid that it makes you look desperate, and thus could trigger AA by a bank.  Is this fear misplaced?

 

I am particularly interested in this issue in regards to BOA.

Message 1 of 14
13 REPLIES
Senior Contributor

Re: Getting a Cash Advance Could Itself Trigger AA?

yes, it can be an AA trigger.  in this market in particular, it is probably one of the very last things you want to test the waters on.  no doubt that a card holder who is willing to pay a cash advance apr which begins accruing the moment you make a withdrawal may look desperate to a lender.  if doing so is viewed as 'out of pattern' spending by the lender, it may be even more conspicuous.  imho, don't even think about it and pursue other options like a personal or peer to peer loan if possible.

 

if i had no choice i may try it with cap1.  under normal circumstances, i can't think of anyone else i would risk it with off the top of my head.  boa can be quite permissive if they 'like' you- but i personally wouldn't try it with them as they are cycling through a zombie phase.  YMMV.


urgent_help_needed wrote:

I've never gotten a cash advance because I've always been paranoid that it makes you look desperate, and thus could trigger AA by a bank.  Is this fear misplaced?

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 2 of 14
Established Contributor

Re: Getting a Cash Advance Could Itself Trigger AA?

HSBC Best Buy slashed my cl about 8 months ago when my wife used it at the atm for cash. My original cl was $2500 and the cut it to $1206. I had a $12 balance at the time. Last month it was increased back to $2500.
Message 3 of 14
Valued Contributor

Re: Getting a Cash Advance Could Itself Trigger AA?

What does AA mean?

Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


Take the FICO Fitness Challenge
Message 4 of 14
Senior Contributor

Re: Getting a Cash Advance Could Itself Trigger AA?


mjbfan79 wrote:
What does AA mean?

 

Adverse Action
DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 5 of 14
Super Contributor

Re: Getting a Cash Advance Could Itself Trigger AA?


score_building wrote:

mjbfan79 wrote:
What does AA mean?

 

Adverse Action

 

Not to be confused with AA meaning Average Age  Smiley Very Happy

 

Or Alcoholics Anonymous of course.

 

Or if you are an ex-Brit, Automobile Association

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 6 of 14
New Contributor

Re: Getting a Cash Advance Could Itself Trigger AA?

or American Airlines ;p

 

unless the cash advance is something like 0% for 12 months special (then they would really want your business) don't do it... 

Message 7 of 14
Moderator Emerita

Re: Getting a Cash Advance Could Itself Trigger AA?

I'm pretty sure that FretlessMayhem had his new American Express card for about 6 hours before using it for a cash advance, after finding that using his debit card to hold his hotel room tied up all his available cash.

He was immediately F'R'd, which might be the shortest turn-around time from issuance to threatened w/d in the history of American Express, at least among out members.

He's still hanging in there with AmEx, I think.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 8 of 14
Senior Contributor

Re: Getting a Cash Advance Could Itself Trigger AA?


mjbfan79 wrote:
What does AA mean?

Free credit report.

Message 9 of 14
Super Contributor

Re: Getting a Cash Advance Could Itself Trigger AA?

I really dont know about other companies. I have Business Credit Card from Affinity Federal Credit Union and they are wonderful. I can drag and drop funds between my Business Credit Card and Business checking account back and fourth and there is no charge or cash advance fee for that. Interest is only 8.25%. It is one of the best card I have. I am hoping in the next 6-12 months they would increase credit limit on my card. 
Message 10 of 14