topic Re: Help.... Quick Cash Advance Question in Credit Cards

Help.... Quick Cash Advance Question

vayub4 — Mon, 10 Feb 2014 16:54:42 GMT

I need cash urgently.... This money is already on the way to me but wont get to me until Wednesday(two days time)... I need this cash by the end of today... If I get the cash advance will I need to Pay Interest when I pay back on wednesday or is it just like purchases where interests only come to play if you dont PIF at the end of the Month!!!

Please someone with knowledge in this area should help out

Re: Help.... Quick Cash Advance Question

longtime_lurker — Mon, 10 Feb 2014 16:49:28 GMT

Cash advances start immediately

Re: Help.... Quick Cash Advance Question

Anonymous — Mon, 10 Feb 2014 17:02:16 GMT

For a short-term cash advance, fees rather than interest is the dominant factor.

For example, if you take a $1000 advance, with a 5% fee and 25% APR, and pay it back a week later, then you'll pay $50 in fees and around $5 in interest.

If you have a CU card without fees, or an LOC, and 12% APR, then you'd pay around $2.31 total.

Re: Help.... Quick Cash Advance Question

longtime_lurker — Mon, 10 Feb 2014 17:07:10 GMT

@Anonymous wrote:
For a short-term cash advance, fees rather than interest is the dominant factor.

For example, if you take a $1000 advance, with a 5% fee and 25% APR, and pay it back a week later, then you'll pay $50 in fees and around $5 in interest.

If you have a CU card without fees, or an LOC, and 12% APR, then you'd pay around $2.31 total.

Forgot about fees, lol. Only time I cash advanced was on my CU CC and there's no fee, 8.9%. Thanks for reminding me

Re: Help.... Quick Cash Advance Question

vayub4 — Mon, 10 Feb 2014 17:09:27 GMT

Thanks all for the responses... I need $650.... The only card I have with that much advance available is amazon chase(High APR) and I do not have an account with chase... Does it take time for them to deposit the cash in my bank account?

Re: Help.... Quick Cash Advance Question

Anonymous — Mon, 10 Feb 2014 17:11:10 GMT

If you go into a bank, you can take an advance at a teller window, and deposit the cash immediately.

I'm not recommending this, but it does work.

The alternative would be an ATM.

Re: Help.... Quick Cash Advance Question

Creditaddict — Mon, 10 Feb 2014 17:11:36 GMT

@vayub4 wrote:
Thanks all for the responses... I need $650.... The only card I have with that much advance available is amazon chase(High APR) and I do not have an account with chase... Does it take time for them to deposit the cash in my bank account?

if it's cash advance you would need the pin number for the card and just go to an ATM and use your credit card like a debit card.

if you are doing it online as a Balance Transfer that will take longer then the 2 days.

Do you mind asking what you need the cash TODAY for if you have it coming on wed?

who do you bank with? might be able to just float it out of your checking account or if you have direct deposit a lot of banks today will offer a form of a payday advance sort of thing based on your deposits and relationship... USbank and Wells have this sort of thing I know for sure. but not sure any offer more than $500

Re: Help.... Quick Cash Advance Question

Anonymous — Mon, 10 Feb 2014 17:17:02 GMT

If you already have a pin set up, you can withdraw it from an ATM. Otherwise you can also drop by a chase branch and they should be able to withdraw it for you as cash.

Re: Help.... Quick Cash Advance Question

vayub4 — Mon, 10 Feb 2014 17:17:04 GMT

I need the money to complete an amount to buy a car out of state. I do not plan on going there with cash! I want to buy a cashiers check or something with the total and I understand I can't swipe CC for a check. I bank with BOA. I have a measly $500 CC with them and I am allowed $250 for cash advance. I have already booked a flight if not I would have postponed. I thought the money would be here today but it looks like tomorrow or Wednesday latest. If anyone knows where I could get a check with CC please let me know too

Re: Help.... Quick Cash Advance Question

vayub4 — Mon, 10 Feb 2014 17:18:44 GMT

I am from NC... There are no chase banks around here this is the reason I closed my bank account with them... Chase was my first bank account

Re: Help.... Quick Cash Advance Question

Anonymous — Mon, 10 Feb 2014 17:19:57 GMT

@vayub4 wrote:
I am from NC... There are no chase banks around here this is the reason I closed my bank account with them... Chase was my first bank account

You should be able to get an advance at almost any bank's teller window.

Re: Help.... Quick Cash Advance Question

clocktick — Mon, 10 Feb 2014 17:24:17 GMT

Do you have the pin number? If so, you should be able to go to an ATM and take out the cash. Also, the dealer (if it is a dealer and not a private seller) should be able to take a credit card payment as money down. I just did this.

Re: Help.... Quick Cash Advance Question

vayub4 — Mon, 10 Feb 2014 17:26:05 GMT

Unfortunately it is a private seller.... I don't have a pin for the chase card.. Only have pins for Discover and BOA cards but those don't have as much as I want!

Re: Help.... Quick Cash Advance Question

Gunnar419 — Mon, 10 Feb 2014 17:28:05 GMT

Since you need $650, you are probably best off going to your bank. An ATM might place a smaller limit on daily transactions.

You don't have to go to the bank that issues your card. Earlier this year, I got a much larger cash advance on a CapitalOne card at a regional bank with no connection to CapOne.

I don't mean any disrespect, but are you 100% sure the car deal is legitimate? Have you seen, driven, or had the vehicle tested by somebody you trust? Something about the need for haste here makes the hairs stand up on the back of my neck. I hope I'm wrong and sorry if I overstepped.

In any case, your local bank tellers should be able to give you cash from your card.

Re: Help.... Quick Cash Advance Question

clocktick — Mon, 10 Feb 2014 17:32:25 GMT

I know my local BOA bank (who I also bank with) the ATM withdrawl limit is $1000/day. I don't know if that limit goes for everyone though. You can call the back of your card and the rep should be able to help you with a PIN, or the automated service may be able to help (or your online account but again, not sure though).

Re: Help.... Quick Cash Advance Question

vayub4 — Mon, 10 Feb 2014 17:38:03 GMT

I Intend to drive the car before I pay for it. And also have the title duly signed by a notary.. This is how I bought my two previous cars and I believe there is no cause for alarm. The fact that they actually want a check instead of cash makes me relax a little more.

Thanks everyone for the help... Since it is easy to get the cash from one of the cards, I will wait until tomorrow morning to see if the money comes in. If not then I can go ahead with the withdrawal...

Thanks again everyone

Re: Help.... Quick Cash Advance Question

efranklin23 — Mon, 10 Feb 2014 23:08:48 GMT

@vayub4 wrote:
I Intend to drive the car before I pay for it. And also have the title duly signed by a notary.. This is how I bought my two previous cars and I believe there is no cause for alarm. The fact that they actually want a check instead of cash makes me relax a little more.

Thanks everyone for the help... Since it is easy to get the cash from one of the cards, I will wait until tomorrow morning to see if the money comes in. If not then I can go ahead with the withdrawal...

Thanks again everyone

I bank at BOA and maximum ATM withdrawal for me I believe is 500/ day. You can try withdrawing half today and then half tomorrow from the ATMs if worse comes to worst. I'm not sure why you haven't called the bank customer service to see if you can get the pin over the phone.