Credit Cards

[afjock21]

---

andre181 wrote:

---

afjock21 wrote:

---

youngandcreditwrthy wrote:
LOL I already knew about this ;-) and the walmart discover one. Hahaha. These would likely send up red flags to the creditor though! Be careful!

---

I guess Discover would see that I'm accepting cash.. maybe no... I don't know, but I would HOPE that this wouldn't send up 'red flags' or else that is simply ridiculous. Next thing I know I got a package in the mail saying 'Sorry your credit line has been reduced' wowww I would definitely need to get some air...

---

I did it once at Walmart because I needed $20 in cash and didn't feel like stopping at the bank. On my statement, it showed my Walmart purchase and the cash-over seperately, so they definitely know you're doing it.

As long as you don't abuse it, I'm sure they won't mind. But if you start doing it regularly and especially if you start carrying balances while doing it, that could signal to them that you might be going through some financial difficulty which could cause some AA.

---

Good to know. Very good to know. I figured I'd 'get my feet wet' and do a random $120 just as a test. Figures the bastards have it come up seperate... can't a guy just get some cash without credit company going all nutty?! Apparently not.

[afjock21]

---

distantarray wrote:

---

andre181 wrote:

I did it once at Walmart because I needed $20 in cash and didn't feel like stopping at the bank. On my statement, it showed my Walmart purchase and the cash-over seperately, so they definitely know you're doing it.

---

^ this, on my BCP Amex stuff bought inside and gas outside are coded differently probably because they don't want you to get 3% back on ciggarettes and hotdogs

---

BAAAAAAAAAAA HAHAHAHAHAHAH!!!! WOW!!! Thanks bro, that was a good one.

[shadow2k]

---

distantarray wrote:

---

andre181 wrote:

I did it once at Walmart because I needed $20 in cash and didn't feel like stopping at the bank. On my statement, it showed my Walmart purchase and the cash-over seperately, so they definitely know you're doing it.

---

^ this, on my BCP Amex stuff bought inside and gas outside are coded differently probably because they don't want you to get 3% back on ciggarettes and hotdogs

---

Try different gas stations.  I get my gas at Quiktrip.  Penfed 5% on gas at the pump, but only pays 0.25% inside.  But my Amex BC gets the bonus inside.  No idea why it's different for the two cards, but I'm not complaining.  I haven't tried other gas stations because QT is where I typically go anyway.

[distantarray]

---

shadow2k wrote:

---

distantarray wrote:

---

andre181 wrote:

I did it once at Walmart because I needed $20 in cash and didn't feel like stopping at the bank. On my statement, it showed my Walmart purchase and the cash-over seperately, so they definitely know you're doing it.

---

^ this, on my BCP Amex stuff bought inside and gas outside are coded differently probably because they don't want you to get 3% back on ciggarettes and hotdogs

---

Try different gas stations.  I get my gas at Quiktrip.  Penfed 5% on gas at the pump, but only pays 0.25% inside.  But my Amex BC gets the bonus inside.  No idea why it's different for the two cards, but I'm not complaining.  I haven't tried other gas stations because QT is where I typically go anyway.

---

it might be different cause my regular gas station is Mobil gas but 7-11 store go figure.

[JustinNguyen]

Stupid is stupid. Keep doing like that until you have bad mark with creditor, then they never raise your credit limit. You'll get stuck with that credit limit until...... Call your credit card to find out. Lol

[CreviceTool]

---

afjock21 wrote:

This advice is ONLY for RESPONSIBLE credit card users. 

---

How many responsible credit card users would do this for a measly $120 cash advance per day?  If you did this for 30 days in a row, then put it into savings, after a year the interest probably wouldn't pay for the gas for trips to the store.  If you did this because you NEED $3600, then that alone is probably a reason not to.

[Cadillac-XTS]

+1

[youngandcreditwrthy]

Well... I know the Cash Over did NOT count against my Cash Advance limit when I tried it haha but looks like I won't get my first Discover statement til like nov 18th even though I opened it Oct 1st. Haha so... No payment due for like two months +!!! how funny!!
Otoh, the Walmart Quick Cash feature DOES count against your Cash Advance cl. And whenever I used the Cash Over with Discover, it only appeared as a charge, including my actual purchase ...on my recent charges.. No indication of a Cash Over transaction, but I'm sure they know :-P

[youngandcreditwrthy]

I have only used the Cash options when:
A. No extra charges
B. Saves me a trip to the atm
And
C. I pif

:-)... Again... Responsible use of credit, but if I were to fall on a financial hardship, you can bet I'd try to stockpile as much cash as possible, esp. if I ran out of savings.

[afjock21]

---

youngandcreditwrthy wrote:
I have only used the Cash options when:
A. No extra charges
B. Saves me a trip to the atm
And
C. I pif

:-)... Again... Responsible use of credit, but if I were to fall on a financial hardship, you can bet I'd try to stockpile as much cash as possible, esp. if I ran out of savings.

---

THIS is probably the only time I'd do it... like I'm robbing them lol even though it's my ass haha. Basically financial armageddon type scenario it's good for.