topic Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit in Credit Cards

GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

texasman07 — Wed, 25 Sep 2013 18:26:47 GMT

Hi everyone. Does anyone know how this is determined?

I have a walmart DC 4,000 CL
AEO Visa 4000 cl
gap visa 3500 Cl
Tjmaxx mc 2000 CL
All with a 400 Cash advance limit

Now I just got upgraded to the SAMs discover. I haven't got my card but when I call it says I have $700 available limit for cash advance.

Huh?

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

youngandcreditwrthy — Thu, 26 Sep 2013 01:32:50 GMT

In the Terms and Conditions, it' says 20%
Often times, my Cash Advance lines wouldn't increase when i got clis, so I'd have to call Customer Service and have them manually do it.

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

BearsAndTurtlesRtheBest — Thu, 26 Sep 2013 03:46:47 GMT

Where all these cards obtained through the automatic upgrade? Or were they instant approvals? Curious

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

texasman07 — Thu, 26 Sep 2013 19:32:53 GMT

All my cards were automatic upgrades. I really hope my last card (Banana Rep) gets the upgrade. I doubt it since I have had it since 2011 with no luck.

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

HeilFico — Thu, 26 Sep 2013 22:54:03 GMT

Ok, I'm going to be the elephant in the room. Would you ever use this feature? I know emergencies happen, but you have other cards which might give you better terms than the GE creditcards. Cash advance fees and APR's are always monstrous. If you want your limit adjusted you may have a chance speaking with an underwriter.

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

texasman07 — Thu, 26 Sep 2013 22:57:41 GMT

I would NEVER use it! I was trying to figure out why all my accounts had so much variability

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

HeilFico — Thu, 26 Sep 2013 23:05:27 GMT

the formula is weird.

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

tld409 — Thu, 26 Sep 2013 23:46:57 GMT

@HeilFico wrote:
Ok, I'm going to be the elephant in the room. Would you ever use this feature? I know emergencies happen, but you have other cards which might give you better terms than the GE creditcards. Cash advance fees and APR's are always monstrous. If you want your limit adjusted you may have a chance speaking with an underwriter.

With Walmart and Sams, a cash advance is included as a regular charge with your purchases. There isn't a cash advance fee applied. Your standard APR would apply of course. I don't know about the other GE cards though.

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

youngandcreditwrthy — Fri, 27 Sep 2013 03:56:17 GMT

I use the "quick cash" feature of my Walmart Discover and pif with NO interest almost monthly.
It's a great feature and saves you a trip to the atm!

The rest have huge fees and aprs! It's always good go be prepared financially.
Im not afraid to admit that Ive called them to adjust my cash advance line. Theyre the ones who set it at 20%, so I gotta make sure they do ;-)
The only card mine auto cli'ed the Cash Advance line on was Paypal MC. I had a $5k cash advance limit! Lol

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

09Lexie — Fri, 27 Sep 2013 04:12:35 GMT

@young

Please tell me you never used the cash advance feature with PayPal MC?

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

youngandcreditwrthy — Fri, 27 Sep 2013 04:19:23 GMT

Noooo!!!! Never! Lol I don't use cash advances! Well...
I did actually use my Trav Amex for a couple hundred while in NYC. I didnt get money transferred to my Chase account in time, but I got Barclay's to credit all $29 back in fees/interest and pif already :-)
That was a super rare occassion though. Im so anti cash advance!!!
It's just reasonable imo to have a cash advance limit readily available if an emergency where you have a need for it.
The chance a person would exhaust all other means is slim to none!

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

09Lexie — Fri, 27 Sep 2013 04:24:20 GMT

Ok, as usual- I'm just concerned.

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

HeilFico — Fri, 27 Sep 2013 04:33:07 GMT

You guys are right about Walmart and Sams Club. I have a Walmart store card and I have used the cash option several times when checking out. It is indeed exempt from an exuberant Cash Advance APR fee and charged as a purchase for all intents and purposes. With that being said, you are limited to $60 a day. OP was looking to increase Cash withdrawal limits so I assumed they were looking for a larger amount. Does Walmart allow more than $60 a day through an UW? I wonder if using it too much would trigger AA.

As always with large Cash Advances, they should always be a last resort.

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

youngandcreditwrthy — Fri, 27 Sep 2013 04:32:02 GMT

Thanks:-) I do like that walmart/sam's club feature. Once you get the Discover upgrade, the quick cash increases to $100 a day

Re: GE CARDS WHAT DETERMINES YOU CASH ADVANCE Limit

navigatethis12 — Fri, 27 Sep 2013 05:00:01 GMT

I just looked and Dillards seems to have increased to 3500 along with the limit increases. Whenever I get the chance I ring the lender and ask to reduce the cash advance to the lowest possible. I would hate to open a bank account or buy a giftcard and it try to post as a cash advance. This way, I should be covered.