03-22-2013 02:48 AM
05-17-2013 11:54 PM - edited 05-18-2013 12:02 AM
I was interested in the Amex Clear, too. Looks like it was discontinued for new applicants. Also looks like the cash advance APR is higher than normal.
I'm always interested in capped or $0 cash advance fee cards, with normal interest rates, to use like lines of credit (without the annual fee), especially to smooth out the ups and downs of my investing activities.
Aside from Barclay's Ring, I've only seen these from credit unions. There are a lot of credit unions with $0 or capped cash advance fee cards.
05-18-2013 02:11 AM - edited 05-18-2013 04:58 PM
Unless don't care about significantly increasing the odds of F/R (no matter how quickly the advance is repaid) would recommend using a credit union or USAA where can link a cc with low-ish APR as an overdraft (ideally secondary overdraft, after savings account.) e.g. Affininity Federal (8.X APR)
Of course the interest on a cash advance begins at the time of the transaction (no grace period) so this approach may limit exposure to fees as well.
05-18-2013 03:14 AM - edited 05-18-2013 03:15 AM
Nice. I wasn't familiar with Affinity FCU but that's exactly the kind of card that I'm looking to add (No cash advance fee, 8.6% APR). Perfect for use as a Line of Credit. Thank you for the tip!
05-31-2013 08:27 PM
is it possible to lower my amex clear cash advance interest rate?
05-31-2013 08:37 PM
05-31-2013 09:25 PM
I seriously think the cash advance features on a CC should be used on an EMERGENCY basis, not for regular use. Otherwise, you're just throwing money down the toilet since as others have mentioned, there is no grace period for CAs. So it's not just the ATM fee that you're paying.
i realize the logic is odd, but i like the idea of having a credit card that is just as convienent to use as a debit card to withdraw cash. having an iphone in one hand to almost instantly pay off the cash advance, and a no fee cash advance card in the other hand gives me that unique ability i have sought and have always longed for ever since i was a kid.
so i spoke with a very friendly amex rep. and he said that NOT ONE single american express card member has or is able to adjust the cash advance apr. he clearly explained that while amex does wish to allow the convience of a cash advance, amex wishes do discourage the use of such a feature. oh well.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.