topic Re: Funding DCU with CC in Personal Finance

Funding DCU with CC

CreditNoob23 — Fri, 12 Jun 2020 15:02:24 GMT

About to join DCU and was wondering if I fund the accounts with a CC will it code as a cash advance? Is it bank speciific? If so, what banks would just show it as a regular purchase?

Re: Funding DCU with CC

M_Smart007 — Fri, 12 Jun 2020 15:17:22 GMT

@CreditNoob23 wrote:
About to join DCU and was wondering if I fund the accounts with a CC will it code as a cash advance? Is it bank speciific? If so, what banks would just show it as a regular purchase?

Hi @CreditNoob23 and Welcome to the forums!

I cannot speak for DCU, but maybe @Gmood1, @AllZero or @Anonymous could answer?

I always use a Citi DC MC to fund CU accounts, never a cash advance fee

Re: Funding DCU with CC

AllZero — Fri, 12 Jun 2020 16:12:46 GMT

@M_Smart007 wrote:
@CreditNoob23 wrote:
About to join DCU and was wondering if I fund the accounts with a CC will it code as a cash advance? Is it bank speciific? If so, what banks would just show it as a regular purchase?
Hi @CreditNoob23 and Welcome to the forums!

I cannot speak for DCU, but maybe @Gmood1, @AllZero or @Anonymous could answer?

I always use a Citi DC MC to fund CU accounts, never a cash advance fee

@CreditNoob23 I can't recall if I funded mine with CC. Here are some data points on DOC

As @M_Smart007 mentioned, MasterCard is preferred.

Re: Funding DCU with CC

DaveInAZ — Fri, 12 Jun 2020 16:19:16 GMT

I've been with DCU since 2017 so I don't remember if I funded with a CC. But Doctor of Credit has a good list, Bank Accounts at the top menu, then Bank Accounts that can be funded with a credit card. For DCU it says you can fund up to $250 with a CC, and lists cards from BoA, Wells Fargo, Chase & PNC successfully charged as a purchase, but also list Barclays as "unsuccessful".

It's a good thing to set your Cash Advance limit on you cards to $0 or $1, either online or by calling, then if a bank tries to charge your funding as a cash advance it is declined. Cash Advances on a CC are a bad thing anyway with fees & immediate interest.

Re: Funding DCU with CC

Gmood1 — Fri, 12 Jun 2020 17:23:56 GMT

It's been a while, I can't remember if I funded this one with a CC or not.

As mentioned, MC is the ticket.

I've used Navy Fed, Citi DC, Citi Rewards + ( any Citi MC will work), BMO MC and US Bank MC.

My favorite is the Citi DC for bank account funding!

Re: Funding DCU with CC

Anonymous — Fri, 12 Jun 2020 17:27:30 GMT

I funded mine last year with my NFCU cashRewards VISA and was not hit with a CA.

MasterCard isn't always safe. I got hit with a CA fee from Synchrony when I used my PayPal Cashback to open Service CU. Probably best to make sure you use a card that doesn't have CA fees like a lot of CU cards or can't do CA like Apple Card.

Re: Funding DCU with CC

Anonymous — Fri, 12 Jun 2020 17:52:45 GMT

@CreditNoob23 wrote:
About to join DCU and was wondering if I fund the accounts with a CC will it code as a cash advance? Is it bank speciific? If so, what banks would just show it as a regular purchase?

I'll tell you tomorrow when it posts to my card.

Re: Funding DCU with CC

CreditNoob23 — Fri, 12 Jun 2020 19:26:04 GMT

I went ahead and used my Apple card. Had to call DCU (hold time ~35 minutes) because there was a issue with processing the payment on a Mac so now I play the waiting game.

BTW it showed I was pre-approved for an auto loan up to 30k and their Platinum Visa for 5k, could that mean a likely approval?

Re: Funding DCU with CC

Anonymous — Fri, 12 Jun 2020 19:43:34 GMT

35 minutes on hold with DCU has to be some kind of a record. It's usually over an hour.

Their preapprovals are generally solid but dunno if the current economic climate has chilled them out on lending.

Re: Funding DCU with CC

Gmood1 — Fri, 12 Jun 2020 19:53:24 GMT

@CreditNoob23 wrote:
I went ahead and used my Apple card. Had to call DCU (hold time ~35 minutes) because there was a issue with processing the payment on a Mac so now I play the waiting game.

BTW it showed I was pre-approved for an auto loan up to 30k and their Platinum Visa for 5k, could that mean a likely approval?

@CreditNoob23

That's a SP approval. Should be good to go on the CC.

Hopefully you accepted it? lol

Re: Funding DCU with CC

CreditNoob23 — Fri, 12 Jun 2020 20:04:32 GMT

@Gmood1 Unfortunately I did not. I am currently at 7/24 until February with my eye on the Chase Amaon Visa. Although it was nice to see

Re: Funding DCU with CC

Gmood1 — Fri, 12 Jun 2020 21:19:09 GMT

@CreditNoob23

Oh ok, I sure hope that Chase Amazon is worth it.

Good luck with the hunt.

Re: Funding DCU with CC

Anonymous — Sat, 13 Jun 2020 02:21:39 GMT

@Anonymous wrote:
@CreditNoob23 wrote:
About to join DCU and was wondering if I fund the accounts with a CC will it code as a cash advance? Is it bank speciific? If so, what banks would just show it as a regular purchase?
I'll tell you tomorrow when it posts to my card.

Confirmed it posted as a regular transaction this evening.