topic Re: BoA changes cash advance on 2 cards in Credit Cards

BoA changes Statement Categories

fuzzy-bear — Tue, 21 Jun 2011 01:37:03 GMT

I recently received notice from Bank of America that:

Your statement will now show four categories of transactions, In addition to Purchases and Balance Tranfers, your statement will show Bank Cash Advances and a new category called Direct Deposit and Check Cash Advances and a new category called Direct Deposit and Check Cash Advances. See the table on the reverse side for more details.

There's a limit on certain cash transactions, Initially, the maximum amount available for Bank Cash Advances will be 30% of you total credit line. This limit is called the Cash Credit Line. We'll continue to review the credit lines assigned to your account.

Does anyone totally get this?, and has anyone else encountered this

Re: BoA changes cash advance on 2 cards

Anonymous — Sun, 19 Jun 2011 04:41:45 GMT

Yes, I did received it in the form of postal mail 1 month ago saying the same thing, 30% cash advance on my total CL, effective on June 26. I did not use any of their cash advance and have no idea what in their mind though.

Re: BoA changes cash advance on 2 cards

Anonymous — Sun, 19 Jun 2011 05:30:43 GMT

Got my letter a month ago.

Re: BoA changes cash advance on 2 cards

smc733 — Sun, 19 Jun 2011 14:30:08 GMT

I was always wondering what the CA limit on BofA actually was, since they never really disclose it anywhere.

Re: BoA changes cash advance on 2 cards

Open123 — Sun, 19 Jun 2011 16:36:54 GMT

I received the letter in June disclosing the new cash advance terms. Mostly, the percentage of cash advance to credit limit has lowered, along with various "other" transactions that used to be categorized as purchases will not be treated as "cash advance."