Who does a CLD for taking a cash advance

[creditlady]

 Is barclays known to do this? If I take a small $150 cash advance from a $5000 credit line will they CLD me?

I read somewhere not sure if it was this forum that they did this to someone after taking a cash advacne off their credit card. They woke up the next day and their credit line was cut in half

[Anonymous]

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@creditlady wrote:

 Is barclays known to do this? If I take a small $150 cash advance from a $5000 credit line will they CLD me?

I read somewhere not sure if it was this forum that they did this to someone after taking a cash advacne off their credit card. They woke up the next day and their credit line was cut in half

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You aren't going to get CLDed for a $150 cash advance.  You just don't want to make it a continual habit.  Credit card companies are not adverse to cash back or they wouldn't offer them.  Plus It's an excuse to charge you a higher interest rate.

[kdm31091]

I think the only time the cash advance and CLD are related is if you are doing it habitually and appearing "risky" to the creditor. If you're constantly taking cash advances despite the fact that the fees are crazy, it can signal to the issuer you're in financial trouble, thus the CLD.

But no, I can't see you getting CLD for doing it once.

[takeshi74]

I'd agree that it's not a matter of a single cash advance leading to AA but a pattern of risky behavior.  Always be careful assuming causality.  Without the details of what you read it's impossible to have a meaningful discussion but it's unlikely that the cash advance itself was the only cause.  A number of cash advances or a cash advance plus other risky behavior could lead to AA but a single cash advance of $150 on its own shouldn't be an issue.

That said, consider the cash advance fee, interest and that there probably isn't a grace period on that balance.

[Anonymous]

If you want to do cash advances regularly get the Ring. $3 cash advance fee and normal 8% interest rate. I've been using mine lately like an atm card and they haven't given me any trouble.

[fedxboy]

Should get a Sam's or Wal-mart card, or even Discover as they let you get cash over your purchase with no fees.  Up to 100 on the Sync cards and is it 120 for the Discover a day?

[Dw4250]

Agreed with what all have said. Cash advances (and BTs) are fine and actually desired by CCC. They would not offer them if they did not make a tidy profit from either transaction.

Good rule of thumb is keep your statement balances under 50% on every card and overall reported UTL under 30% across all cards. This isn't necessarily good financial advice depending on your circumstances (lower UTL is ALWAYS better); but it will probably keep you off most banks radars for AA/CLD.

Also need to be careful not to trip any alarms by doing crazy stuff (i.e. Multiple large advances at a casino or strip club lol!)

[Anonymous]

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@Dw4250 wrote:
Agreed with what all have said. Cash advances (and BTs) are fine and actually desired by CCC. They would not offer them if they did not make a tidy profit from either transaction.

Good rule of thumb is keep your statement balances under 50% on every card and overall reported UTL under 30% across all cards. This isn't necessarily good financial advice depending on your circumstances (lower UTL is ALWAYS better); but it will probably keep you off most banks radars for AA/CLD.

Also need to be careful not to trip any alarms by doing crazy stuff (i.e. Multiple large advances at a casino or strip club lol!)

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Maybe its because I make large payments, but I haven't had any trouble when taking an advance at a casino. My debit card for my CU only lets me take out $300 in a day, so for a casino trip I have to take it off the Ring.