topic Re: Cap1 QS Cash Advance amount same as Credit Limit? in Credit Cards

Cap1 QS Cash Advance amount same as Credit Limit?

yudeology101 — Sun, 23 Mar 2014 13:05:45 GMT

I thought this was pretty weird....My Cap1 QS has a $4.5k limit and i keep seeing my 'Available Cash' limit as same as my actual credit limit....All my other cards offer around anywhere between $400~$1.5k for cash advances, but never this high as the actual credit limit. So just got on live chat w/ Cap1 and it's confirmed:

while I review your account information.

Debbie: Thank you for your patience.

Debbie: , I do see that the maximum cash allotted to this account is $4,500.00. At this time you have $4,382.31 amount available for a cash advance.

you: really?

you: wow

Debbie: Yes, .

Debbie: I appreciate that you have contacted us to check on this.

Debbie: Is there anything else I can help you with today?

you: never seen amount available for cash advance limit as being that large as same as the actual credit line

you: nope that's all

you: thank you

Debbie: You're welcome.

Debbie: My goal today was to provide you with outstanding customer service. I hope I was able to meet that goal for you. If you'd like to provide feedback about your experience with us today, please click here to end the chat and answer a few quick questions.

Debbie: I haven't heard from you for a few moments. Are you still with me?

I thought this was pretty cool, anyone else?

Re: Cap1 QS Cash Advance amount same as Credit Limit?

Anonymous — Sun, 23 Mar 2014 13:10:14 GMT

The perks of having a high limit card?

My CapOne and Barclay cards ($750, $1500, $2200 limits) all have $500 max cash advance limits. My $7k BECU card has the entire line available for cash advances... at $500 per day.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

Anonymous — Sun, 23 Mar 2014 13:10:33 GMT

WOW That is crazy. I havent seen one like that either. I might have to check mine now and see what mine is hahaha

Re: Cap1 QS Cash Advance amount same as Credit Limit?

Uppingmyscore — Sun, 23 Mar 2014 13:11:54 GMT

Cap 1 QS gives you every dime of your CL in Cash Advance. You must request a PIN# to actually use it.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

Anonymous — Sun, 23 Mar 2014 13:12:07 GMT

Hmm mine has a 4k limit and a 500 cash advance.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

yudeology101 — Sun, 23 Mar 2014 13:19:02 GMT

@Uppingmyscore wrote:
Cap 1 QS gives you every dime of your CL in Cash Advance. You must request a PIN# to actually use it.

Not true. My Cash Advance in December was only $450 which i used in Vegas w/ a Pin, and my CL at the time was $1.5k. I've got a CLI last month (22nd) to $4.5k and somehow it changed the Cash Advance to the full credit limit. That's why at first i thought it was weird.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

Uppingmyscore — Sun, 23 Mar 2014 13:25:36 GMT

@yudeology101 wrote:
@Uppingmyscore wrote:
Cap 1 QS gives you every dime of your CL in Cash Advance. You must request a PIN# to actually use it.
Not true. My Cash Advance in December was only $450 which i used in Vegas w/ a Pin, and my CL at the time was $1.5k. I've got a CLI last month (22nd) to $4.5k and somehow it changed the Cash Advance to the full credit limit. That's why at first i thought it was weird.

Really....Mines have always reflected was my credit limit is...aka. available credit limit. I guess it's different strokes for different folks. Thanks for letting me know that.

P.S. I do not have the PIN# so I guess I will never use that perk anyway.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

TheClub — Sun, 23 Mar 2014 15:46:16 GMT

Before I switched from the Cap1 Platinum to the QS my credit limit was $500 w/ a $300 cash advance limit. Once I switched to QS my credit limit and cash advance went up to $1000.

I assumed that was the standard for the card. Although I don't recommend exercising these benefits as the APR is brutal, it's always good to know that you have an alternative way to get cash if you're down to you're last buck.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

CelticLady — Sun, 23 Mar 2014 15:59:58 GMT

I have 3 cap one cards, QS, QSO and a regular plat with rewards added. All 3 of them have the entire limit available for cash. Never notice until I checked after reading this.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

clocktick — Sun, 23 Mar 2014 16:13:20 GMT

That is interesting! I have $1500/4000 for cash advance. I just got a CLI last week so will be interested to see if it changes when next statement comes out.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

yudeology101 — Sun, 23 Mar 2014 16:22:59 GMT

@clocktick wrote:
That is interesting! I have $1500/4000 for cash advance. I just got a CLI last week so will be interested to see if it changes when next statement comes out.

Wow, so far everyone has different Cash Advance limit amounts unless it is the same as their credit line....Shall we put our heads together and see how this works? I'm not a big fan of Cash Advance either, but kinda curious about this.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

daybreakgonesXe — Sun, 23 Mar 2014 16:35:30 GMT

My QS has this as well, however it's been like that ever since it's been an Orchard secured at a lowly $200!

Even when it transferred over to Cap One as a Platinum. I'm assuming mine was likely due to grandfathering of terms, but based on some other responses it could very well be a condition of the QS.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

tskstorm — Sun, 23 Mar 2014 16:50:30 GMT

My QS has a 7500 CL and a 3650 cash limit. I just got this card within the week.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

tskstorm — Sun, 23 Mar 2014 16:51:08 GMT

$3750, typo. Unable to edit from mobile sorry.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

fot1 — Sun, 23 Mar 2014 19:14:29 GMT

Interesting.. My cash limit is the same as my credit limit. My card started as orchard bank then went to Platnium and just PC'd to Qs.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

gdale6 — Sun, 23 Mar 2014 21:44:13 GMT

Cash advance limits are something born in the last decade, prior to that there was no such thing one could walk into a bank and get the limit in cash with no questions asked. To me such limits are meaninless as I have checks laying around for all accounts that I can BT right to the limit at discount rates or the purchase rates. A Cap-1 that I blew off in Jan had a 1250 cash limit when the CL was more than double, ano cap-1 that I still have the cash limit & CL are the same.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

chfenton — Sun, 23 Mar 2014 21:45:08 GMT

It might have to do with the limits. I have a $20,000 credit limit on my QS and "only" $10,000 is available for cash.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

MitchL — Mon, 24 Mar 2014 00:25:06 GMT

My Cap1 Platinum was an Orchard card. Just recently received CLI to $800. I have $800 as available cash limit. BUT my APR for cash advance is lower than my purchase APR. 20.9% vs 24.9%. I called to see if I could get lower APR and was told not available at this time. I also verified that my APR for cash advance was indeed lower. The rep acted like it was the norm. I never used the card since it had such a low limit and was denied CLI in the past due to not using the card and not making 3 consecutive minimum payments on it. So the last couple months I bought gas on it and actually waited for the statement to close before paying in full for 3 months and I received the CLI.

Re: Cap1 QS Cash Advance amount same as Credit Limit?

SisterGirl — Mon, 24 Mar 2014 00:37:17 GMT

@MitchL wrote:
My Cap1 Platinum was an Orchard card. Just recently received CLI to $800. I have $800 as available cash limit. BUT my APR for cash advance is lower than my purchase APR. 20.9% vs 24.9%. I called to see if I could get lower APR and was told not available at this time. I also verified that my APR for cash advance was indeed lower. The rep acted like it was the norm. I never used the card since it had such a low limit and was denied CLI in the past due to not using the card and not making 3 consecutive minimum payments on it. So the last couple months I bought gas on it and actually waited for the statement to close before paying in full for 3 months and I received the CLI.

My Capital One and Navy Federal allows me up to my total credit line as cash advance available, but no other lender !

SisterGirl

Re: Cap1 QS Cash Advance amount same as Credit Limit?

mrgoattoo — Mon, 24 Mar 2014 03:09:33 GMT

"I thought this was pretty weird....My Cap1 QS has a $4.5k limit and i keep seeing my 'Available Cash' limit as same as my actual credit limit....All my other cards offer around anywhere between $400~$1.5k for cash advances, but never this high as the actual credit limit. So just got on live chat w/ Cap1 and it's confirmed:"

Thats how my Citibank is. I can call them and get a 'balance transfer' where they put up to my CL ($10,000) into my checking account.

2 Years ago I got $5000 this way with a year 0%APR (because it was treated as a transfer instead of cash in this case) so we could replace our car that was stolen. They kept asking me if I wanted more and reminding me that I can get up to the CL in cash for any thing I want it for.

Actually I got curious and just checked my CapOne and its the same way....$4500 CL and the same for Cash Limit.

I think all the rest are like 1/5th of the CL available for cash on my cards.