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@Anonymous wrote:Discover More card is absolutely the best card for cash advances. You can visit grocery chains such as Food Outlet, Ralphs, Safeway and even Walmart do what Discover calls a "cash over" your purchase. It is treated as a standard purchase with no ATM, Bank or other hidden fess. It is awesome!
it is,,, and welcome to the forums
Nice I didnt know that.
So it's like using debit for your payment and you ask the cashier like $20 cashback?
@CS800 wrote:Nice I didnt know that.
So it's like using debit for your payment and you ask the cashier like $20 cashback?
60 at walmart
Thanks for the welcome from Dalebb and the forum. Actually, it is treated like a debit purchase and I did a cash over of $40 at Walmart last month and much more convenient than trying to find an ATM machine as already Christmas shopping. No hidden fees!
I did read about the "cash over" feature with the Discover card on their website, but totally forgot about it moments after reading it...I just happened to be perusing through all of the tabs on their site that day and came across it. IMO, cash advances are there for a reason...because sometimes you have an emergency and need cash. There is no shame in utilizing that feature on your card and I'm pretty certain credit card companies don't give a darn if you do. They're happy to charge you the fee and keep your business just the same. If I had a momentary cash flow issue and needed a cash advance to help myself out, then I would. It would be foolish of me not to. What's the point of having a credit card and not taking advantage of all of the benefits that it offers?
@Anonymous wrote:Hi all! I recently got approved for a Capital One Spark Business card with a cl of $5000. And it says it has a cash limit of $2500.
The card also came with a pin number. Does that mean I can go to an ATM and withdraw cash from the card? and if so, how much?
I'm not actually going to do this, I was just wondering how that works.
You would be able to use your credit card with your PIN at an ATM to obtain cash. Refer to your documents, call Capital One, or use the Capital One website to find out what your limits for cash are.
You should not use your credit card for cash, though.
For most credit cards, the interest rate for a cash advance is 25% - 30%.
A cash advance from a credit card is apparently a warning signal (to the credit card company) that can result in credit limit decreases that "chase you down:"
as you pay down your balance, your credit limit is decreased along with the amount of the balance that is paid off.
@Gollum wrote:
@Anonymous wrote:Hi all! I recently got approved for a Capital One Spark Business card with a cl of $5000. And it says it has a cash limit of $2500.
The card also came with a pin number. Does that mean I can go to an ATM and withdraw cash from the card? and if so, how much?
I'm not actually going to do this, I was just wondering how that works.
You would be able to use your credit card with your PIN at an ATM to obtain cash. Refer to your documents, call Capital One, or use the Capital One website to find out what your limits for cash are.
You should not use your credit card for cash, though.
For most credit cards, the interest rate for a cash advance is 25% - 30%.
A cash advance from a credit card is apparently a warning signal (to the credit card company) that can result in credit limit decreases that "chase you down:"
as you pay down your balance, your credit limit is decreased along with the amount of the balance that is paid off.
+1
Except in extreme, dire situations, I would NEVER use a cash advance. I unknowingly used one back when I was in college and that interest was terrible because that's on top of other interest you're paying if you carry a balance. :/