Hey guys,
Just wanted to tell you a little tip if you're ever in need of meeting a spend requirement, or if you're already in the business of looking for a new bank account.
Once I received my Freedom a couple minutes ago, I applied for a US Bank account which allows CC funding (since I already wanted a relationship with US Bank). Put $500 on the card, and I'm SD'ing it until the categories can beat Discover. Free $150.
Please note that sometimes banks will charge the CC as a cash advance, and you can see which banks do that here:
(not all banks allow CC funding)
Edit: per uswala's post, I forgot to mention that you probably want to check that it codes as a normal purchase and not as a cash advance (to receive your bonus and avoid interest charges)
Hope this helps to people who never knew about this! Just trying to spread the word 
@Anonymous wrote:Interesting. New to me.
Yes....it was new to me too, but when I opened bank accounts sometimes they let me include CC funding, so I looked more into it and this is what I found.
@Anonymous wrote:Hey guys,
Just wanted to tell you a little tip if you're ever in need of meeting a spend requirement, or if you're already in the business of looking for a new bank account.
Once I received my Freedom a couple minutes ago, I applied for a US Bank account which allows CC funding (since I already wanted a relationship with US Bank). Put $500 on the card, and I'm SD'ing it until the categories can beat Discover. Free $150.
Please note that sometimes banks will charge the CC as a cash advance, and you can see which banks do that here:
(not all banks allow CC funding)
Hope this helps to people who never knew about this! Just trying to spread the word
And also certain banks let you adjust the cash advance amount to $0. Great free money plan bud!
@Anonymous wrote:
@Anonymous wrote:Hey guys,
Just wanted to tell you a little tip if you're ever in need of meeting a spend requirement, or if you're already in the business of looking for a new bank account.
Once I received my Freedom a couple minutes ago, I applied for a US Bank account which allows CC funding (since I already wanted a relationship with US Bank). Put $500 on the card, and I'm SD'ing it until the categories can beat Discover. Free $150.
Please note that sometimes banks will charge the CC as a cash advance, and you can see which banks do that here:
(not all banks allow CC funding)
Hope this helps to people who never knew about this! Just trying to spread the word
And also certain banks let you adjust the cash advance amount to $0. Great free money plan bud!
Thanks buddy
Yes -- I actually have some more info for you in the adjustment regards.
FNBO -- tried adjusting to 0. They told me they could make it 0, but I would be ineligible for ANY automatic credit line increases. This was a turn off. So I requested my request to be withdrawn.
Chase -- Only allows a MINIMUM cash advance limit of $20. Still eligible for automatic CLIs.
@CreditCuriousity wrote:This is how I funded my PenFed checking initially although I had the cash in another checking account, although with a different Chase CC to meet spend.. This is a very typical method as alot of Banks/CU allow this.. Without stating the obvious I would personally pay back that $500 when the statement cuts and not carry the balance as you gotta pay the piper one day or another. Glad you met you $500 spend though.
Yuppers -- that's exactly what I plan on doing .
@uswala wrote:If I remember correctly, certain credit card issuers do not count cash advances among the spent amount for bonuses. Correct me if I am wrong. Do not know about Chase.
100% correct.
That's why you check the list in the link I originally provided to see if funding is considered as a cash advance.
In the case with funding a US Bank account with Chase Freedom, it is considered a normal purchase.
Edit: Sorry, looks like I forgot to mention what you said in my post. Thanks for the reminder!
@Anonymous wrote:Hey guys,
Just wanted to tell you a little tip if you're ever in need of meeting a spend requirement, or if you're already in the business of looking for a new bank account.
Once I received my Freedom a couple minutes ago, I applied for a US Bank account which allows CC funding (since I already wanted a relationship with US Bank). Put $500 on the card, and I'm SD'ing it until the categories can beat Discover. Free $150.
Please note that sometimes banks will charge the CC as a cash advance, and you can see which banks do that here:
(not all banks allow CC funding)
Hope this helps to people who never knew about this! Just trying to spread the word
Ok, um. You are certain this transaction will qualify for the $500 spend? It was only a few minutes ago, after all....
Are you not aware that Freedom is 10 UR points per dollar on Amazon only to the end of the year? Seems like that already is a bit better than Discover.
