topic Re: USAA Cash Advance in Credit Cards

USAA Cash Advance

Anonymous — Wed, 30 Mar 2016 01:19:02 GMT

What is the cash advance limit of USAA cards? Does it vary or is it typically a set % of the overall limit?

Re: USAA Cash Advance

Anonymous — Wed, 30 Mar 2016 02:01:37 GMT

I believe the maximum is $2500 regardless of your limit

Re: USAA Cash Advance

Anonymous — Wed, 30 Mar 2016 02:22:27 GMT

it was 2500 when I did it last month, I would suggest doing a BT to a low interest or zero interest card immediately after you do this to avoid the high interest charges.

Re: USAA Cash Advance

UncleB — Wed, 30 Mar 2016 02:24:31 GMT

The cash advance limit is your entire credit line (it's one of the few areas their card surpasses NFCU), however if you want a no-fee advance into your USAA checking account there's a $2500 daily limit.

If you need more than $2500 in a single day, you can use the card at a bank and get a larger amount but there will be the usual 3% advance fee.

Re: USAA Cash Advance

UncleB — Wed, 30 Mar 2016 02:25:54 GMT

@Anonymous wrote:
it was 2500 when I did it last month, I would suggest doing a BT to a low interest or zero interest card immediately after you do this to avoid the high interest charges.

That's actually my 'back up' plan... to get the cash advance from USAA, then do an immediate no-fee balance transfer to NFCU.

Re: USAA Cash Advance

Anonymous — Wed, 30 Mar 2016 02:43:15 GMT

Well the old man talked with them about insurance recently so I think I've got an in with them. My util is 1% and scores are decent.. a few inq but I don't know who they pull.

I don't know that I would need their insurance right away but being in with them and having that option for the future is appealing to me. As far as credit products probably just their low interest card. $2500/day bounced from a checking/savings with them is fine. The 100% is appealing. The other product I'm targetting is a PLOC with local credit union for prime + 4%. Trying to get 25k on the PLOC which effectively the card would serve the same purpose.. provided I could get the minimum rate on it. Seems more plausible to get the card that high than the PLOC but I'm not sure...... decisions decisions... I probably should just garden for another year+

Re: USAA Cash Advance

Anonymous — Wed, 30 Mar 2016 07:16:47 GMT

If you dont have a checking account with them, is there another way to get a cash advance?

They sent some convenience checks but I think that would invoke a fee if I made it out to me and deposited it into another account at a diiferent bank.

Trying to plan, in case its needed in the future.

Re: USAA Cash Advance

UncleB — Wed, 30 Mar 2016 07:25:21 GMT

@Anonymous wrote:
If you dont have a checking account with them, is there another way to get a cash advance?

They sent some convenience checks but I think that would invoke a fee if I made it out to me and deposited it into another account at a diiferent bank.

Trying to plan, in case its needed in the future.

I've used one of their convenience checks before (during a 0% APR promo) and there was a 3% fee, just like if you got cash at a local bank.

There should be some "fine print" on the sheet that tears away from the check (or somewhere on your statement) that gives the fee as well.

Since their checking accounts are completely free (even the paper checks are free) you might consider getting one for 'just in case'. Their checking accounts also have free ACH transfers to and from deposit accounts at other banks free of charge, so that might come in handy for you as well.

Re: USAA Cash Advance

Anonymous — Fri, 01 Apr 2016 00:40:45 GMT

@UncleB wrote:
@Anonymous wrote:
If you dont have a checking account with them, is there another way to get a cash advance?

They sent some convenience checks but I think that would invoke a fee if I made it out to me and deposited it into another account at a diiferent bank.

Trying to plan, in case its needed in the future.

I've used one of their convenience checks before (during a 0% APR promo) and there was a 3% fee, just like if you got cash at a local bank.

There should be some "fine print" on the sheet that tears away from the check (or somewhere on your statement) that gives the fee as well.

Since their checking accounts are completely free (even the paper checks are free) you might consider getting one for 'just in case'. Their checking accounts also have free ACH transfers to and from deposit accounts at other banks free of charge, so that might come in handy for you as well.

Thanks for the info, UncleB!

I just signed up for a free checking account online and I was impressed that it literally did take just 5 minutes or less, as their wording says. I have been a USAA member for several years so they had my info already, that probbaly contributed tot he fast signup times.

And I ordered the free checks and deposit slips too.

Now I'm ready for the 'just in case' you mentioned.

Re: USAA Cash Advance

UncleB — Fri, 01 Apr 2016 01:02:03 GMT

@Anonymous wrote:
@UncleB wrote:
@Anonymous wrote:
If you dont have a checking account with them, is there another way to get a cash advance?

They sent some convenience checks but I think that would invoke a fee if I made it out to me and deposited it into another account at a diiferent bank.

Trying to plan, in case its needed in the future.

I've used one of their convenience checks before (during a 0% APR promo) and there was a 3% fee, just like if you got cash at a local bank.

There should be some "fine print" on the sheet that tears away from the check (or somewhere on your statement) that gives the fee as well.

Since their checking accounts are completely free (even the paper checks are free) you might consider getting one for 'just in case'. Their checking accounts also have free ACH transfers to and from deposit accounts at other banks free of charge, so that might come in handy for you as well.
Thanks for the info, UncleB!

I just signed up for a free checking account online and I was impressed that it literally did take just 5 minutes or less, as their wording says. I have been a USAA member for several years so they had my info already, that probbaly contributed tot he fast signup times.

And I ordered the free checks and deposit slips too.

Now I'm ready for the 'just in case' you mentioned.

Good job! I genuinely believe you'll be pleased with their Checking, even if you don't use it as your primary account.

You might already know this, but they also refund the fee charged by other bank's ATM machines... you'll get the amount of the fee put back in your account just before they generate the statement. They will refund up to $15 each month/statement.

Also, if you have direct deposit, you'll get your money a day early... which has come in handy quite a few times for me!

Re: USAA Cash Advance

srloring13 — Fri, 01 Apr 2016 01:05:49 GMT

Don't forget about being able to deposit checks at some local UPS stores if you're not located near one of their branches or atms.

Re: USAA Cash Advance

Anonymous — Fri, 01 Apr 2016 01:44:01 GMT

@srloring13 wrote:
Don't forget about being able to deposit checks at some local UPS stores if you're not located near one of their branches or atms.

I didnt know about this feature, or about having ATM fees refunded either, great info.

I'm going to be using their mobile banking app and taking a pic of my checks for deposits.

My current checking account is with B of A and they just sent me a letter saying they would no longer be able to waive the fees associated with my checking account, so they will be deducting 25 a month from my account starting in May. I am happy with them and have been there for just under 20 years, but it isnt worth 25 a month. I use the online BillPay multiple times every month, but USAA also has it. I will be calling them tomorrow and mentioning that if they cant make my checking account free, I'll have to leave. I used to be a customer with a home loan and a good sized IRA with them, but then if that was still the case, I would not have read most every post in the rebuilders forum.

Re: USAA Cash Advance

UncleB — Fri, 01 Apr 2016 02:16:18 GMT

@Anonymous wrote:
@srloring13 wrote:
Don't forget about being able to deposit checks at some local UPS stores if you're not located near one of their branches or atms.
I didnt know about this feature, or about having ATM fees refunded either, great info.

I'm going to be using their mobile banking app and taking a pic of my checks for deposits.

My current checking account is with B of A and they just sent me a letter saying they would no longer be able to waive the fees associated with my checking account, so they will be deducting 25 a month from my account starting in May. I am happy with them and have been there for just under 20 years, but it isnt worth 25 a month. I use the online BillPay multiple times every month, but USAA also has it. I will be calling them tomorrow and mentioning that if they cant make my checking account free, I'll have to leave. I used to be a customer with a home loan and a good sized IRA with them, but then if that was still the case, I would not have read most every post in the rebuilders forum.

You're not alone, my friend. I can relate... more than you might think.

If you would like a local account for the occasional cash deposit, here's an idea. Go with Wells Fargo... I have their basic account, and I get the fee waived each month by doing an ACH transfer from USAA for $500. Wells Fargo "sees" this as a direct deposit, and they waive the monthly fee. You can then simply transfer it back, or what I usually do is just pay a couple of bills with it using Wells Fargo's bill pay. (My home was foreclosed by Wells, so I'm certainly not a 'cheerleader' for them, but I've had a checking account with them for a while and they've actually been pretty good.)

I admit this isn't the most 'graceful' approach, but it's worked for me the last couple of years (when I realized a transfer would "count" as a direct deposit with Wells).

The only place USAA seems to fall short (for me) is if you need to make frequent cash deposits, there's no straight-forward way to do so. Also, this has never been a problem for me, but deposits via mobile phone or the UPS store aren't covered by Reg. CC, so they can hold the deposit if they feel it's necessary. I'll stress, though, that this has never been a problem for me personally.

Actually, when I do a transfer from Wells to USAA (initated at USAA) they give immediate credit for the first $800 (might be more for some folks), and I mean immediate, as in can withdraw from an ATM right away, even though the money technically isn't there yet. (For a couple of days the money will show up in both banks online). This has been helpful a few times as well.

Re: USAA Cash Advance

Anonymous — Fri, 01 Apr 2016 02:28:41 GMT

So I called and I would be eligible for membership through my dad but he would have to buy that $40 jewelery policy. The representative said he would have to keep the policy the entire 12 months. Does anyone know if that is true? Once I got my checking/CC setup and then if he cancelled at 3 months would they revoke my membership? $40 not a terrible price for membership anyway I don't paying the whole thing if I have to.. just trying to figure out if the CSR is pulling my leg or what.

Re: USAA Cash Advance

UncleB — Fri, 01 Apr 2016 02:36:46 GMT

@Anonymous wrote:
So I called and I would be eligible for membership through my dad but he would have to buy that $40 jewelery policy. The representative said he would have to keep the policy the entire 12 months. Does anyone know if that is true? Once I got my checking/CC setup and then if he cancelled at 3 months would they revoke my membership? $40 not a terrible price for membership anyway I don't paying the whole thing if I have to.. just trying to figure out if the CSR is pulling my leg or what.

It's probably true since most likely that $40 is the annual premium. When I helped my grandfather join, the policy I bought for him was around that amount for the entire year as well, so that sounds right.

It's not really that great of an expense when you consider what all you'll get out of it.

If you can somehow figure out how to get your father a refund, as far as I know he would still be "in", since once a member, always a member.