Transfer DCU Visa funds to DCU checking - cash advance?

[glamchick]

I need to transfer funds to my checking account and when I called DCU they told me I could do so by using my DCU visa as a cash advance.   

I read a lot of others on MyFico do this with there DCU accounts also.

My questions are:

1. I thought banks frowned upon using credit cards for cash advances?

2. Will this prevent me from ever getting a CLI on my DCU credit card?

Thanks for any advice.

[pipeguy]

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@glamchick wrote:

I need to transfer funds to my checking account and when I called DCU they told me I could do so by using my DCU visa as a cash advance.   

I read a lot of others on MyFico do this with there DCU accounts also.

My questions are:

1. I thought banks frowned upon using credit cards for cash advances?

2. Will this prevent me from ever getting a CLI on my DCU credit card?

Thanks for any advice.

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DCU doesn't care - the transfer is just that a move from a "line if credit" to your checking account. I do this all the time, no issues, no problems, no extra fees and it does not affect future CLI's or loans as I've rec'd both.  DCU and several other CU's promote this "service" on their sites as a benefit of membership.

[glamchick]

Awesome!  Thanks!!

Also, do you know how they charge interest on a cash advance transfer?   I ask the rep by he told me I would have to wait till my statment?

[pipeguy]

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@glamchick wrote:

Awesome!  Thanks!!

Also, do you know how they charge interest on a cash advance transfer?   I ask the rep by he told me I would have to wait till my statment?

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It's treated as a "charge" meaning the same rate as your credit card and the interest starts right away rather than after a statement cuts, but there is no 3%-5% transfer fee and no much higher "cash advance" interest rate.