Cash advance loophole?

[Anonymous]

Plastiq is a service where they will pay companies that don't take credit cards as valid payments by sending them checks. But what if you use that and make a payment to yourself using Plastiq and then go ahead and cash the check. Would that be a loophole around cash advance interest rate?

[jeffm4688]

I'm guessing that there is some kind of system in place to throw up red flags if this happens, and if so, they may cancel your account. Just looked at the terms of service, came up with this.

4.1 Restricted Activities

In connection with your use of our website, your Account, or the Services, or in the course of your interactions with Plastiq, a Merchant, or a third party you will not:

1. Send money to yourself;
2. Send money to recipients who have not provided a good or service;
3. Provide yourself a cash advance from your credit card (or help others to do so);

[Anonymous]

Without knowing anything specific about your credit profile other than the cards you currently own, here is my input. The Barclay Ring offers cash advances for $3 and Citibank will direct deposit cash into your account for specific credit products. You will have to pay a BT fee of 3% with Citibank.