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Valued Contributor
scottwagnon
Posts: 1,333
Registered: ‎02-07-2010

amex clear cash advance benefit

anyone use this feature? the only other card i know that has this feature is the penfed promise

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
New Contributor
SnowBowl
Posts: 126
Registered: ‎01-24-2013

Re: amex clear cash advance benefit

[ Edited ]

Even tho AMEX offers no cash fees on clear accounts  I wouldnt take advantage of it and  I wouldnt risk for it CLD scenarios based on what I have heard..


Starting Score: 680
Current Score: MyFICO 721 Credit Karma 692 Discover IT 698 WM 698 Discover 1K merrick bank 2.9K Juniper 4.6K Apple Visa 3.2K WM $1.4K and couple of other accounts I forget off hand.
Goal Score: 740 and a Visa Siggy 5K+ CL


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Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011

Re: amex clear cash advance benefit


SnowBowl wrote:

Even tho AMEX offers no cash fees on clear accounts  I wouldnt take advantage of it and  I wouldnt risk for it CLD scenarios based on what I have heard..


And running the risk of an FR. 

Valued Contributor
jamesdwi
Posts: 1,436
Registered: ‎09-16-2011

Re: amex clear cash advance benefit

as others have said the risk of FR is too great if you use it for enough money to make it useful, if you need $60 or less ($100 or less if you have walmart discover)  go to a walmart or sam's club and pull out your Walmart or Sams' club card repectively or any discover card buy a pack of gum and get cashback.


Cards: Chase Southwest 20k & CSP 10k & Amtrak 4.6k, & Freedom 3.3k & Slate 3.3k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Sams Club Discover 10k, Paypal Extras MC 6k, CapOne 2.5k, CapOne 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Senior Contributor
Open123
Posts: 4,037
Registered: ‎02-23-2011

Re: amex clear cash advance benefit

This feature is although not charged by Amex, would still incur an ATM fee of at least $3, right?  From that perspective (doubt any lender will implement AA for a $100 cash advance), I don't think it worthwhile to pay a $3 fee to withdrawal money.

Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: amex clear cash advance benefit

I wouldnt take a cash advance lok
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: amex clear cash advance benefit

Lol*
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
flowfaster
Posts: 787
Registered: ‎08-30-2011

Re: amex clear cash advance benefit

There are better ways to CA any credit card without fee's.  Keep searching.

Amex BCP/BC/Zync - Amex Business GR - Barclays NFL Visa Sig 49ers/Arrival - BoA BBR - Cap 1 Quicksilver - Citi Forward/Preferred - Chase Amazon/Freedom/Ink Plus - Discover IT - Fidelity Amex - GECRB Amazon/Walmart - PenFed PRV - Target - USAA Amex - US Bank CASH+/Club Carlson
Valued Contributor
scottwagnon
Posts: 1,333
Registered: ‎02-07-2010

Re: amex clear cash advance benefit

I want this feature not because I need it, but rather the convenience to take out cash. My landlord is a nut and sometimes the credit line checks I send him end up in the trash, and that way I can still use credit to pay him paper cash. It's worth the three dollar fee. since the money is already in the bank I have every intention of making a payment even before I take the cash out. I will never do it for any other reason. I already have a online Check sending line of credit with my current bank. This would be a back up plan. I would dare use this without immediately paying off what I have withdrew in cash. And also it ends up being cheaper than using my debit card at another ATM where I work that is t my bank ATM. That way when my impatient landlord who is quick to think I am out to stiff him even though I have never been late, I can pay him right then and there at the ATM on the fly while I am on a ten or I need to go outside for a second.
EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859
Valued Contributor
scottwagnon
Posts: 1,333
Registered: ‎02-07-2010

Re: amex clear cash advance benefit

And I don't have time to use the discover cash over feature. That would take 8 days to do. think I'm building credit on my rent and is cheaper on the fly especially if I am at work.
EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
card line up here: http://ficoforums.myfico.com/t5/Credit-Cards/How-Many-Credit-Cards-Do-YOU-have/m-p/1034512#M290859

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