topic Re: Highest Cash Advance line ratio? in Credit Cards

Highest Cash Advance line ratio?

One7 — Fri, 29 Aug 2014 17:43:32 GMT

Which of your cards give you the highest cash advance ratio? For instance all my cards offer a small cash advance line except for one of mine. Most of mine are very low in comparison to my CL some in low thousands but with my higher cards. My BofA Travel Rewards card is $8k though, which is %80 of my limit! Is this normal? I've never taken or plan on ever taking a cash advance but it's still nice knowing I have huge access to one. What is your highest cash advance line ratio and with whom?

Re: Highest Cash Advance line ratio?

daybreakgonesXe — Fri, 29 Aug 2014 17:45:08 GMT

@One7 wrote:
Which of your cards give you the highest cash advance ratio? For instance all my cards offer a small cash advance line except for one of mine. Most of mine are very low in comparison to my CL some in low thousands but with my higher cards. My BofA Travel Rewards card is $8k though, which is %80 of my limit! Is this normal? I've never taken or plan on ever taking a cash advance but it's still nice knowing I have huge access to one. What is your highest cash advance line ratio and with whom?

I guess it varies on issuer...most prefer the 20% ratio, but Cap One has mine at 100% (not sure if it's standard with Cap One, or because it used to be a secured Orchard).

Re: Highest Cash Advance line ratio?

One7 — Fri, 29 Aug 2014 17:50:56 GMT

@daybreakgonesXe wrote:
@One7 wrote:
Which of your cards give you the highest cash advance ratio? For instance all my cards offer a small cash advance line except for one of mine. Most of mine are very low in comparison to my CL some in low thousands but with my higher cards. My BofA Travel Rewards card is $8k though, which is %80 of my limit! Is this normal? I've never taken or plan on ever taking a cash advance but it's still nice knowing I have huge access to one. What is your highest cash advance line ratio and with whom?
I guess it varies on issuer...most prefer the 20% ratio, but Cap One has mine at 100% (not sure if it's standard with Cap One, or because it used to be a secured Orchard).

It's funny you say that, this card was originally a secured card as well. Wonder if that has something to do with it

Re: Highest Cash Advance line ratio?

mongstradamus — Fri, 29 Aug 2014 17:54:49 GMT

<p>i don't really know how they calculate cash advance since i just got my downgraded BCE today i just saw my cash advance limit was 200 lol. I think that comes out to like 2.2% is that right ?</p>

Re: Highest Cash Advance line ratio?

MidnightJester — Fri, 29 Aug 2014 17:56:46 GMT

DO they adjust cash advance ratios? My Cash advance raito has gone down the more CL I have gotten. Cash advances are totally a internal banking issue. There is no recording of use of cash advances that other CC and banks can see you used. They just see a blance not how you got the balance.

Re: Highest Cash Advance line ratio?

IWOL — Fri, 29 Aug 2014 17:59:10 GMT

My highest by far is my Cap 1 Venture at 50% of my $15K limit.

For some reason on my B of A Cash Rewards its only $200 on a $10K limit....2%, lol.

Re: Highest Cash Advance line ratio?

One7 — Fri, 29 Aug 2014 18:02:14 GMT

Interesting, when my BofA card was at $5k my CAL was $4k and when I got the CLI to $10k they also doubled my CAL to $8k. I'm pretty happy with it. With that said I think my other BofA card only has a CAL of $1k

Re: Highest Cash Advance line ratio?

IWOL — Fri, 29 Aug 2014 18:06:20 GMT

Ive never tried asking B of A or FIA(Fidelity) to increase my CA Limits, maybe they will raise them if you call and ask.

I guess its good to have for an emergency but there are plenty of ways to get a cash advance from a credit card without actually taking a "cash advace" and paying the high fees and interest that come with them. Plus I think it can be a red flag for many creditors that you may be in trouble.

Re: Highest Cash Advance line ratio?

One7 — Fri, 29 Aug 2014 18:10:36 GMT

Very true, I'll never use one. I'd do a balance transfer into my checking account before I ever used a cash advance. Should be easy especially since I get a new BT offer in the mail almost weekly from BofA

Re: Highest Cash Advance line ratio?

Anonymous — Fri, 29 Aug 2014 18:29:05 GMT

@One7 wrote:
Which of your cards give you the highest cash advance ratio? For instance all my cards offer a small cash advance line except for one of mine. Most of mine are very low in comparison to my CL some in low thousands but with my higher cards. My BofA Travel Rewards card is $8k though, which is %80 of my limit! Is this normal? I've never taken or plan on ever taking a cash advance but it's still nice knowing I have huge access to one. What is your highest cash advance line ratio and with whom?

I actually never noticed Cash Advance limits, now you brought it up I guess I should check lol

My highest used to be Chase at 80% (now 20%), currently highest is BoA at 66.66% = 6/9 (odd?)

Re: Highest Cash Advance line ratio?

One7 — Fri, 29 Aug 2014 18:33:45 GMT

2/3s isn't too bad, I have some cards that are at %5 lol

Re: Highest Cash Advance line ratio?

ShinBeats — Fri, 29 Aug 2014 18:35:19 GMT

NFCU will let me withdraw my entire line as a cash advance (7500)

Re: Highest Cash Advance line ratio?

juggalo9er — Fri, 29 Aug 2014 18:37:38 GMT

indiana members, forum, and capone are all 100%...barclay is 50% on each card

Re: Highest Cash Advance line ratio?

Anonymous — Fri, 29 Aug 2014 18:44:10 GMT

@One7 wrote:
2/3s isn't too bad, I have some cards that are at %5 lol

Do people actually withdraw cash? (feel like I'm stupid because it wouldn't exist if no one uses it)

I read the terms and noticed that interest starts acculmating immediately after the transaction date.

Why not just get a loan?

Re: Highest Cash Advance line ratio?

One7 — Fri, 29 Aug 2014 19:02:00 GMT

I wouldn't dare try it

Re: Highest Cash Advance line ratio?

Anonymous — Fri, 29 Aug 2014 19:10:45 GMT

I think it varies. But for the most part, I think most banks will let you raise the cash line if you call and ask. Amex doesnt increase cash line automatcially unless you asked even if you got a CLI. I never use any cc to get cash though. If I really need to borrow, I do it against my LOC becuase I think 3% fee is simply too high. Highest I got is NASA FCU with 25k CL/Cash Limit.

Re: Highest Cash Advance line ratio?

Anonymous — Fri, 29 Aug 2014 20:07:34 GMT

I think Penfed is another where cash is 100% of CL.

I was just going through my Citi accounts, and saw I had an (old) New document for my Citi Forward:

We’ve changed the limit on your Citi Forward® Visa®
account
As you requested, we’ve increased your cash limit to $2,100.

Of course, I never requested that, just a CLI. No letter about that being approved (which it was) but looks like they did increase the cash limit.

Re: Highest Cash Advance line ratio?

dpride86 — Fri, 29 Aug 2014 20:40:54 GMT

DCU has mine at 100%

Re: Highest Cash Advance line ratio?

One7 — Fri, 29 Aug 2014 23:19:22 GMT

Wow that's awesome, just noticed my QS is at 100% too

Re: Highest Cash Advance line ratio?

chwebb1 — Sat, 30 Aug 2014 01:11:22 GMT

@One7 wrote:
Which of your cards give you the highest cash advance ratio? For instance all my cards offer a small cash advance line except for one of mine. Most of mine are very low in comparison to my CL some in low thousands but with my higher cards. My BofA Travel Rewards card is $8k though, which is %80 of my limit! Is this normal? I've never taken or plan on ever taking a cash advance but it's still nice knowing I have huge access to one. What is your highest cash advance line ratio and with whom?

My highest is Discover, which is a little over 50% ($1400/2750)

My second highest percentage wise is Barclays at 40% ($400/1000) on each of my cards with them.

My third highest is Citi at 30% ($1200/4000)

My fourth highest is AMEX at 20% ($1000/5000) and 14% ($600/4300)

And finally, bringing up the rear is BoA at 20% for my BBR ($200/1000) and at 8% on my Cash Rewards (200/2500).