Frequent Contributor
Autumnslight
Posts: 311
Registered: ‎07-08-2012
Re: Best way to make a "cash only" purchase with a credit card?

I haven't even entirely decided to make the purchase, but I could use cash if I wanted to. It's more that I enjoy math and problem solving, and I like to see if I can find a way to maximize things to my financial benefit, even just a little. :smileyhappy: If it came down to HAVING to use a cash advance to make the purchase, I just wouldn't make the purchase. The fee is 3%, then the cash advance APR is, on average, about 25%, starting immediately. That's crazy.

 

But, if I can make the purchase, float it at 0% for a couple of months (through the holidays), AND get rewards, then that makes it more attractive. Ultimately, I'm not going to do this using credit unless my net cost is less than the straight cash cost, so even a BT check won't be my solution here. Definitely a great idea for an emergency/necessary purchase though!

Scores:
07/29/12: EX FICO (Amex) 684 | EQ MyFICO 631 | TU Walmart 695
Current: EX FICO (MyFICO) 733 | EQ (MyFICO) 683 | TU (Walmart) 745

First Goal: 700+ across the board - Got it on EX & TU!!!