topic do CCC hate it when tou get a cash advance? in Credit Cards

do CCC hate it when tou get a cash advance?

Anonymous — Tue, 14 Oct 2008 20:11:14 GMT

i got a cash advance from my target visa, next thing i know, my CL is decreased!! i carryied a high balance, but do they like it when you get a cash advance or not?

Re: do CCC hate it when tou get a cash advance?

score_building — Tue, 14 Oct 2008 20:43:51 GMT

carrying high balances and taking cash advances are just two of several potential AA/CLD triggers in current climate. sorry you found out the hard way...as you may know, the only way for you to pay off the cash advance immediately is to PIF since they will apply any partial payments to lower interest debt first.

Re: do CCC hate it when tou get a cash advance?

Anonymous — Tue, 14 Oct 2008 21:23:57 GMT

Cash advances are viewed as risky by most lenders, even if they entice you into taking one, because it is usually a sign that you do not have enough liquid assets to take care of your everyday expenses. Unless their is a great promo, cash advance rates are offer higher than your purchase APR, painting you as desparate and possibly in financial trouble in the eyes of many account reviewers.

Re: do CCC hate it when tou get a cash advance?

wmarat — Tue, 14 Oct 2008 21:30:26 GMT

Yes they do hate cash advances. It can lead to AA.

Re: do CCC hate it when tou get a cash advance?

Anonymous — Tue, 14 Oct 2008 21:53:53 GMT

It's a love & hate thing.

Re: do CCC hate it when tou get a cash advance?

Anonymous — Tue, 14 Oct 2008 23:14:13 GMT

@Anonymous wrote:
i got a cash advance from my target visa, next thing i know, my CL is decreased!! i carryied a high balance, but do they like it when you get a cash advance or not?

Yea cash advances are a big no no...I also found that out the hard way. My wife did a $300.00 cash advance through my Best Buy M/C and the second she did it hsbc CLD me from $2500. to $1206. The silly thing is she didnt need the cash she said she forgot her citibank pin and she didnt know the diffrence in cards.

Ol well not that i needed that much credit anyway RIGHT....

Re: do CCC hate it when tou get a cash advance?

Anonymous — Wed, 15 Oct 2008 01:02:18 GMT

Then why offer it if they don't want you to use it? That's insane? Is there any circumstance under which the creditors would think a cash advance is okay?

Geez...

Re: do CCC hate it when tou get a cash advance?

fused — Wed, 15 Oct 2008 01:31:21 GMT

bcnu176 wrote:
i got a cash advance from my target visa, next thing i know, my CL is decreased!! i carryied a high balance, but do they like it when you get a cash advance or not?

If you have an Amex account, I wouldn't take a cash advance from one of your other creditors.

Re: do CCC hate it when tou get a cash advance?

Anonymous — Wed, 15 Oct 2008 02:53:06 GMT

@Anonymous wrote:
Then why offer it if they don't want you to use it? That's insane? Is there any circumstance under which the creditors would think a cash advance is okay?

Geez...

I agree 100% with ya...I asked best buy (HSBC) the same question.

POINTLESS................

Re: do CCC hate it when tou get a cash advance?

Anonymous — Wed, 15 Oct 2008 03:18:26 GMT

@Anonymous wrote:
@Anonymous wrote:
Then why offer it if they don't want you to use it? That's insane? Is there any circumstance under which the creditors would think a cash advance is okay?

Geez...

I agree 100% with ya...I asked best buy (HSBC) the same question.
POINTLESS................

I agree too, but can also see why it would say to them 'this person doesn't have any money!' and might make them a bit nervous. In the case of AmEx, EVERYTHING makes them nervous, but really... cash advances don't tend to be a good deal and would indicate your checking account is, at best, empty. Cash advances tend to come with higher interest rates (horribly high, usually) and don't earn you any rewards... but if you're a good customer with a good history with the CCC, and don't seem to be maxed out all over the place and apparently withdrawing cash to live on, a cash advance needn't necessarily mean 'this customer must be in financial trouble'. I think the only time I'd risk a cash advance would be, say, in the unlikely event that I had a wallet stolen on vacation with my debit card in it, but had a credit card back at my hotel... or something. Even then, I'd call the CCC first to give them the heads-up and do my best to reassure them that the cash advance wasn't the result of impending destitution...

Sorry about the CLD - that sucks.