Valued Contributor
Posts: 2,528
Registered: ‎11-11-2010
Re: Cap1 Secured cash advance
[ Edited ]

tboy1977 wrote:

I don't want the cash advance......I just want to be dealt with fairly.  My goal is to get my secured cards as good as possible so when I finally enter the garden, I will stay a LONG TIME!


Besides 5% of $1500 is $75.  I'm sure I wont go that far over limit :-)

You said you want to be prepared, which is why I suggested getting AMEX branded prepaid card instead (free ATM withdrawal). Cash advance has no grace period, so from day 1 you are charged with interest of 24.9% APR.

$750 cash advance limit is a lot actually, considering that my Chase Freedom card has $600 cash advance limit for $3K CL. That and the fact that each ATM imposes limit on cash advance withdrawal (which is more likely to be less than $750), you SHOULD be happy with a $750 cash advance limit. You are already being dealt fairly, perhaps too fairly.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/ (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)