Senior Contributor
jsucool76
Posts: 3,788
Registered: ‎12-11-2011
Re: Cap1 Secured cash advance

trumpet-205 wrote:

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.


Cap1 gave me a 100% cash advanced limit of $3000 which is crazy lol. and definitely. that APR can take you right up to your limit pretty quickly. After one year you'd be at over $1000 dollars :smileytongue: 

 

A lot of people who get cash advances usually don't have means to pay them back.

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