Credit Cards

[jamesdwi]

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pozativelyliving wrote:

It seems like there is no set % of a credit line or a set number for a monthly max cash back. The numbers are all over the place.  

I also thought that banks frowned apon getting cash back or taking a cash advance.  Doesn't seem like it matter here.

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I saw a pattern but too tired to work out the math,  their is a minimum they give out, and then you get a precent of your credit line up to 200 rounded to the nearest $20, unless you have the discover version where its up to a max of $400.  which maxes sense since you can take up to $100 per transaction. 

[kevinjjc]

It seems like your cash limit has more to do with how long you've been a cardmember instead of your credit limit.

[SwampSystems]

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jamesdwi wrote:

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pozativelyliving wrote:

It seems like there is no set % of a credit line or a set number for a monthly max cash back. The numbers are all over the place.  

I also thought that banks frowned apon getting cash back or taking a cash advance.  Doesn't seem like it matter here.

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I saw a pattern but too tired to work out the math,  their is a minimum they give out, and then you get a precent of your credit line up to 200 rounded to the nearest $20, unless you have the discover version where its up to a max of $400.  which maxes sense since you can take up to $100 per transaction. 

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Mine doesn't fit your pattern, as I only have the store card and my quick cash limit is over $300, with a max of $60 per transaction last time I used it.

[SwampSystems]

Here's an update for you guys. Today I got a CLI on my Walmart Store card through an underwriter to $10,000. I was told my cashback limit is $1,110, with a $60 limit within 24 hours. That is approximately 11% of my CL.

[orl2185]

Walmart Discover....

Current Balance* : $0.00   Minimum Payment Due : $0.00   Payment Due Date : 09/25/2012

Available Credit* : $9,800.00   Available For Cash Advance* : $917.00   Total Credit Limit : $9,800.00

[pozativelyliving]

Great credits lines for a store card! 

Another question about the cash back feature, is the amount that your allowed per month or, per credit line.  My CL is $600. $120 for a cash advances. Say I take the full $120. the first month then make the minimum monthly payment ($30.00?), what becomes available for cash back?   Just trying to figure out how this works.

[Duncanrr]

Just tried mine for first time. I've had card for a week and my credit limit is $1800. I took out $100 and have $360 available for cash advances.

[emptypockets]

My limit is $4600, limit for quick cash/cash advance is $920 (per my last statement). 

[lithium78]

My CL on my Walmart Discover is $2000 and the cash limit is $400.  I used this feature when I moved to another state several years ago and it really is very useful.