cash advance

[kdm31091]

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@taxi818 wrote:

There are also other options. They don't offer if they would get mad. People at my fico so paranoid. and most will not see you as more risky. depends on how you pay it back. The best option is to do a BT to yourself. Pay the 3 percent. on $1700 that is only . about 47 dollars. Transfer fee. on a 0% Bt card. if you have it. but only if you have that kind of card. Just found out citi does it. also chase. Barclays as well.

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But typically if you need a cash advance it would be because you need the money quickly, whereas a BT takes days/weeks to actually complete.

No one's really being paranoid. You can't state definitively that they won't see the consumer as more risky (just as I can't say that they will see them as more risky). It's just our speculation that typically someone who is taking a cash advance is seen as a riskier customer. The APR is sky high to discourage people from wanting to use the cards for cash. So I don't think it's something the bank wants you doing constantly. But who really knows.

[taxi818]

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@kdm31091 wrote:

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@taxi818 wrote:

There are also other options. They don't offer if they would get mad. People at my fico so paranoid. and most will not see you as more risky. depends on how you pay it back. The best option is to do a BT to yourself. Pay the 3 percent. on $1700 that is only . about 47 dollars. Transfer fee. on a 0% Bt card. if you have it. but only if you have that kind of card. Just found out citi does it. also chase. Barclays as well.

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But typically if you need a cash advance it would be because you need the money quickly, whereas a BT takes days/weeks to actually complete.

No one's really being paranoid. You can't state definitively that they won't see the consumer as more risky (just as I can't say that they will see them as more risky). It's just our speculation that typically someone who is taking a cash advance is seen as a riskier customer. The APR is sky high to discourage people from wanting to use the cards for cash. So I don't think it's something the bank wants you doing constantly. But who really knows.

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That is a correct statement Kdm. Because once. Im not sure who it was. During the app process. They asked if had taken a cash advance out in the last 6 months. which i thought was weird for them to ask. so maybe that was them trying to see how risky i was. But in todays society and information age. There are many ways to get around paying cash advance fees. even needing the money fast. Its just something i could never do. But in emergency. i can see how others could

[Anonymous]

I too would like to hear from anyone who had experience getting a cash advance from a Comenity Visa or Mastercard. I have an interest in getting one short term too. I want to know your experience with Comenity specifically if someone has done it with them.

[Anonymous]

I'm paranoid from those I would offer to pay five different coworkers their cell phone bills on a credit card before the advance.  Might even get some points racked up that way

[Anonymous]

Anyone with Comenity specific-experience? I'd really like to know

[taxi818]

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@Anonymous wrote:

Anyone with Comenity specific-experience? I'd really like to know

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Op you are not going to find too many here at my fico that would actually take a cash advance. Comenity is just another bank like any other. You would be fine. As long as you would be willing to pay the interest they will not have a problem. Or they would not have offered you the limit to begin with. I don't understand the big worry here. You already know they are going to sock it to you. Depending on how fast you can pay it back. May i ask what is your interest rate. So i can give you a ball park of what they will charge per month. It is not as bad as  most beleive. unless you did it long term. Mostly; im guessing . Apr for cash advance is about 24.99 percent.

if that is the case. on a 1700 loan. per year you would pay about. $425 a year in interest from day one. no grace. Divided by 12 months. which will roughly about. $35 Dollars a month in interest. on top of the principal. So minimum payment plus $35.00 which will be your payment. So there is no reason to sweat it.