Credit Cards Center Credit cards from our partners
Reply
Valued Contributor
Posts: 1,627
Registered: ‎03-03-2015
0

Don't be stupid like me and fund your DCU account with a credit card

I recently obtained DCU membership and made my $10 donation, and $5 deposit into savings.

 

I did a little searching in the forums to see if it would code as a cash advance, but didn't see anything recent. Now I see I was using the wrong search terms because "DCU Funding" comes back with a warning from 2014: Funding a DCU account will code as a cash advance. I don't see anything more recent than that, so I'm posting this as a warning to others. 

 

I just took a look at my Capital One account online, and I see two transactions ($5 and $10) and two $10 cash advance fees as well. Smiley Mad

 

 


In the garden since 3/18/17 - Mini app spree Smiley Happy
Starting scores:
552 EQ, 570 TU, 558 EX Current scores (3/21/17): 724 EQ 692 TU 702 EX
Moderator
Posts: 7,058
Registered: ‎06-20-2015

Re: Don't be stupid like me and fund your DCU account with a credit card

I'm sorry this happened to you.  Smiley Sad

 

FWIW, there's a great DoC article with a list of many banks/CUs and how their funding codes:  http://www.doctorofcredit.com/does-funding-a-bank-account-with-a-credit-card-count-as-a-purchase-or-...

 

There's no entry in the article for DCU, but down in the comments there are a couple of people who had the same experience as you, so you're definitely not alone.  Smiley Frustrated

Highlighted
Valued Contributor
Posts: 2,991
Registered: ‎08-13-2009
0

Re: Don't be stupid like me and fund your DCU account with a credit card

Ouch!

 

Did you have the option of using a debit card to fund your account?

 

The interest starts accruing immediately for cash advances on the cc, so you might want to pay it off immediately!

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.