Consider NASA...questions

[ecxpa]

For those who have  a NASA cc, how much of your CL is available for cash advances.......is it a percentage or fixed amount.......my app was approved for 20K just wondering how much cash advance would be available

[Slim1Der]

I have $25k and all of it is available for cash advance

[Firehorse]

That actually kinda scares me. A lot.

Instant approvals. SPs. High CL. All available for cash advance.

It has all the makings of getting someone in serious trouble.

[Kenny]

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@Firehorse wrote:

That actually kinda scares me. A lot.

Instant approvals. SPs. High CL. All available for cash advance.

It has all the makings of getting someone in serious trouble.

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Easy. Don't trust yourself.. don't get it. The credit world has tons of temptations.. if you want to ruin your credit then go right for it. For a lot of people, your profile isn't going to change just because you got another high credit limit card... one isn't going to just go crazy on a spend spree.

[Firehorse]

I don't mean me. I'm hyper careful. I'm just worried someone out there is gonna get sucked in to that temptation.

[Firehorse]

But I do get your general point. Not up to any of us to say anything. That person who might do it should not get it.

[14Fiesta]

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@Firehorse wrote:

I don't mean me. I'm hyper careful. I'm just worried someone out there is gonna get sucked in to that temptation.

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Maybe that was their flawed thinking in starting this new open doors campaign. They were asuming many people would sign up and take out a 30K cash advance to pay off over the next 10 years. Little did they know myFICO was going to flood them with PIFers! lol

[Anonymous]

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@Firehorse wrote:

But I do get your general point. Not up to any of us to say anything. That person who might do it should not get it.

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Actually, I was thinking about this from the CU viewpoint (or perhaps the regulators).   If your CU becomes very attractive to people wanting much higher limits than they get from other creditors (and with SPs if possible), doesn't sound too healthy for the institution!   Now many may want the high CL for utilization purposes, but it really is all there to spend, and default on.

On the other hand NFCU seems to do ok and with good monitoring, a lender can mitigate risk.

[ecxpa]

Has anyone applied for a NASA PLOC after apping for the credit card and got results?

[mark293]

Yep