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What is your cash advance limit with American Express?

New Contributor

What is your cash advance limit with American Express?

Received my letter confirming approval for a CLI to $25K, but noticed that my cash advance limit has been $200 since my original approval for the BCE about two years ago.  My original limit was $1K so I'm guessing that the cash advance limit new grew with the credit limit, but I was curious as to what others have experienced.  I don't really care, as I don't intend to ever use a cash advance, but it just seemed bizarre that my cash limit would be less than a percent of my credit limit.

Message 1 of 27
26 REPLIES
Established Contributor

Re: What is your cash advance limit with American Express?

I think this happens a lot, not just with Amex, but with most lenders.  Often the cash advance limit does not increase with a credit line increase, but stays the same.  Some have successfully requested a cash advance limit increase separately.

 

I have never cared about my cash advance limit because I have never taken a cash advance.

 

I did look at my Amex cash advance limits and they have not increased with my credit lines.

Current scores (FICO 8): EX-793, EQ-766, TU-760
NFCU Flagship $22K | NFCU Cashrewards $22K | Discover IT $34K | SECU Visa $10K | CSR $15K | Chase Marriott $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX SPG $23K | AMEX Hilton Surpass $15K | AMEX PRG | Aviator Red $26K | Citi TY Premier $11.6K | BoA Premium Rewards 23k | BoA Cash Rewards $15k | USAA AMEX $6K | Cap1QS $8K | BJs MC $13K | Walmart MC $5.1K | Loft MC $11,250 | Macy’s Store/Amex $10K/$4K | BR Visa $5K | JCP $7.5K | Kohl’s $3K | VS $3.2K | Home Depot $10K | Lowes $8.5K | Target $4.5k
Message 2 of 27
Valued Contributor

Re: What is your cash advance limit with American Express?

with any lender it's always a bad idea to take a cash advance

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 3 of 27
Super Contributor

Re: What is your cash advance limit with American Express?


-Wade- wrote:

with any lender it's always a bad idea to take a cash advance


But depending on the circumstances, it might be less bad than the alternatives

Message 4 of 27
Valued Contributor

Re: What is your cash advance limit with American Express?


longtimelurker wrote:

-Wade- wrote:

with any lender it's always a bad idea to take a cash advance


But depending on the circumstances, it might be less bad than the alternatives


i agree it's bettter than a payday loan. Just not good credit 101

 

http://credit.about.com/od/avoidingdebt/qt/avoid-credit-card-cash-advance.htm

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 5 of 27
Regular Contributor

Re: What is your cash advance limit with American Express?

Amex ED card came today in mail 5k limit and 1k cash.

Message 6 of 27
Frequent Contributor

Re: What is your cash advance limit with American Express?


longtimelurker wrote:

-Wade- wrote:

with any lender it's always a bad idea to take a cash advance


But depending on the circumstances, it might be less bad than the alternatives


Yes, just today I had to go to the DMV to get a TN title made into a NC title and they wanted a $5 notary fee that had to be paid in cash. 

 

Had to go to the gas station and pull $20 out on my Barclaycard since I had forgot my debit card at home(30 min away and I was on lunch break). 

 

Stupid cash only polices ruin everything, I was quite irate. 

765 TU FICO.
Message 7 of 27
Established Contributor

Re: What is your cash advance limit with American Express?


longtimelurker wrote:

-Wade- wrote:

with any lender it's always a bad idea to take a cash advance


But depending on the circumstances, it might be less bad than the alternatives


 

Yep, I will try almost anything rather than take an Amex cash advance... However, I would still prefer owing that money to Amex, rather than to one of them MSer vegetarian with an attitude...  Ouch!

 

 

Message 8 of 27
Valued Contributor

Re: What is your cash advance limit with American Express?

To answer your question OP I would assume that the cash advance limit is 25% of your total limit. Most lenders limit your cash advance limit to a portion. I think Cap1 allows 100%? At least they allow me 100% according to my statement.


I realized i am still young and still have many years to achieve whatever i want.
Message 9 of 27
Mega Contributor

Re: What is your cash advance limit with American Express?


-Wade- wrote:

with any lender it's always a bad idea to take a cash advance


The Barclay Ring $1fee and 8% there are worse things I could do but not recommended other than an emergency.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $13.5k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $6.1k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $4.85k / Citi DC (WMC) $7.1k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 10 of 27