topic Re: Capital One Cash Advance? in Credit Cards

Capital One Cash Advance?

wasCB14 — Tue, 12 Mar 2019 05:31:54 GMT

I've heard a lot of people say that Capital One rewards post when the purchase posts.

Can there sometimes be a short delay? Or does the absence of rewards mean a transaction is ineligible for rewards?

I'm concerned the transactions in red may be coding as cash advances.

Re: Capital One Cash Advance?

Shooting-For-800 — Tue, 12 Mar 2019 10:07:30 GMT

I would be worried about it being a business expense. Is it?

Re: Capital One Cash Advance?

HeavenOhio — Tue, 12 Mar 2019 11:10:42 GMT

I've noticed that "immediately" may actually mean something closer to "within 24 hours." I zeroed out the rewards on two Capital One cards a couple of weeks ago, and a few cents in stray rewards posted to each card the next day.

I see the same thing this morning. About $500 in charges posted to one of my cards overnight, but the rewards haven't been bumped up yet. I'd expect them to catch up by tomorrow morning.

Re: Capital One Cash Advance?

simplynoir — Tue, 12 Mar 2019 13:29:45 GMT

@Shooting-For-800 wrote:
I would be worried about it being a business expense. Is it?

Why would that matter?

Re: Capital One Cash Advance?

wasCB14 — Tue, 12 Mar 2019 16:42:17 GMT

@simplynoir wrote:
@Shooting-For-800 wrote:
I would be worried about it being a business expense. Is it?
Why would that matter?

Personal tax payment...though a business tax payment would code the same.

@HeavenOhio wrote:
I've noticed that "immediately" may actually mean something closer to "within 24 hours." I zeroed out the rewards on two Capital One cards a couple of weeks ago, and a few cents in stray rewards posted to each card the next day.

I see the same thing this morning. About $500 in charges posted to one of my cards overnight, but the rewards haven't been bumped up yet. I'd expect them to catch up by tomorrow morning.

Glad to know short delays are possible. No change atm, but I'll check it again later today or tomorrow.

Re: Capital One Cash Advance?

wasCB14 — Tue, 12 Mar 2019 19:26:08 GMT

Well, the points did post, along with my bonus.

Capital One changed the posting date for the transactions from March 11 to March 10. Maybe that had something to do with it.

Alarm over.

Re: Capital One Cash Advance?

HeavenOhio — Tue, 12 Mar 2019 19:48:11 GMT

My batch of rewards posted too.

Re: Capital One Cash Advance?

Shooting-For-800 — Wed, 13 Mar 2019 00:51:43 GMT

@simplynoir wrote:
@Shooting-For-800 wrote:
I would be worried about it being a business expense. Is it?
Why would that matter?

Because some cc will shut down cards that are personal and used for business or business and used for personal especially when rewards are involved.

Re: Capital One Cash Advance?

Revelate — Wed, 13 Mar 2019 01:15:00 GMT

@Shooting-For-800 wrote:
@simplynoir wrote:
@Shooting-For-800 wrote:
I would be worried about it being a business expense. Is it?
Why would that matter?
Because some cc will shut down cards that are personal and used for business or business and used for personal especially when rewards are involved.

First one sure, Amex known for that; however, second one?

Lot of people with SP's are totally blurry anyway and I don't really think the banks care if you smoke your liability shield as any other sort of entity. Actually, I just had a nasty cynical thought: they probably prefer it

Also things have changed a lot since that was a rampant thing to my knowledge, namely Business cards have become the next frontier for the credit card rewards offers and no longer suck for such things.

Re: Capital One Cash Advance?

simplynoir — Wed, 13 Mar 2019 13:11:07 GMT

@Shooting-For-800 wrote:
@simplynoir wrote:
@Shooting-For-800 wrote:
I would be worried about it being a business expense. Is it?
Why would that matter?
Because some cc will shut down cards that are personal and used for business or business and used for personal especially when rewards are involved.

That shouldn't matter at all unless you're making transactions of the MS variety. The type of charge short of being marked as a cash advance makes no difference.

Edit: @Revelate pretty much summed it up nicely. I still think it's fine to mix n match personal/buinsess use on cards but that's just me.

Re: Capital One Cash Advance?

HeavenOhio — Wed, 13 Mar 2019 13:38:10 GMT

Doesn't the big sin have something to do with using your own cards (either business or personal) to charge at your own business on your own terminal?

Re: Capital One Cash Advance?

simplynoir — Wed, 13 Mar 2019 13:52:53 GMT

@HeavenOhio wrote:
Doesn't the big sin have something to do with using your own cards (either business or personal) to charge at your own business on your own terminal?

Yes, that's a big no-no with any credit card company and is pretty much a death sentence of your accounts with them.

Re: Capital One Cash Advance?

Shooting-For-800 — Wed, 13 Mar 2019 14:41:56 GMT

To each their own, but terms exist...

Amex --- “Each Cardmember acknowledges and agrees that cards are intended to be used for the Company’s commercial or business purposes.”

Capital One --- You “acknowledge and agree that all cards and convenience checks will be used solely for business or commercial purposes and not for personal, family or household purposes.”

Chase --- “I certify, understand and agree that…this is a business account which shall be used only for business purposes and not personal, family or household purposes.”

Re: Capital One Cash Advance?

simplynoir — Wed, 13 Mar 2019 16:17:21 GMT

If those credit card companies followed those terms (and others if you're gonna go in this direction) there would be many card closures.