Credit card apps via CU membership

[CreditobsessedinFL]

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@Neiltyson wrote:

Hey did you fund the langley savings account with credit card? Was it coded as cash advance? 

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I didn't know any better and used a debit card from my FI for the intial $50.00, and I have NO idea how it was coded, so  @Neiltyson, I am glad @Gmood1 was able to jump in and answer your Q:.  @Gmood1 , do you recommend using a MC instead of a debit card for joining CUs moving forward, or is that just a matter of personal preference in the end? 

[Anonymous]

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@Gmood1 wrote:

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@Neiltyson wrote:

Hey did you fund the langley savings account with credit card? Was it coded as cash advance? 

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@Neiltyson 

No it doesn't code as a cash advance. Use a MasterCard to insure it doesn't, as Visa or Amex may flag it as a CA.

By the way, USAA considers itself a financial institution. Not a CU or a bank.

Maybe a mixture of both that offers insurance?

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Yes, USAA is a bit of a hybrid.  I list them as a CU because of the way they have membership criteria and shares that makes them look like a CU.  They do have differences from both a CU and a Bank, but aside from the insurance offerings, I find they "resemble" a CU enough to refer to them as such.  Not picking nits at all, because you're 100% correct in the distinction.

[Gmood1]

@CreditobsessedinFL 

Totally your choice on whether to use either.

If they give the option. I always use a MasterCard. Preferably one with cash back or rewards points.

For two reasons, one I actually get paid to make the deposit. lol

And two, I can dispute the charge if they goof up the transaction.

Although, it's not common. I've had it happen once recently.

If AOD offered when I first joined.

I'd have let them charge all $5000 to my MC on the initial deposit.

[CreditobsessedinFL]

WOW; @Gmood1 , I wish I knew enough to ask this question BEFORE I joined. Thank Goodness it was only $50.00 but I will use a MC moving forward, thank you for all the reasons why! 

[Neiltyson]

@Gmood1 you've disputed a cash advance before? Lol how did that go?

I've going on a spree soon and have a couple big SUB to pull off so hoping to find a few great banks that'll fund cc's as purchases. Prob will get a Wells Fargo and Chase Sub.

Doctorofcredit has good info but data points are really sporadic. cheers

[Gmood1]

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@Neiltyson wrote:

@Gmood1 you've disputed a cash advance before? Lol how did that go?

I've going on a spree soon and have a couple big SUB to pull off so hoping to find a few great banks that'll fund cc's as purchases. Prob will get a Wells Fargo and Chase Sub.

Doctorofcredit has good info but data points are really sporadic. cheers

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@Neiltyson 

Citi dropped the money back on the CC within 48 hours and initiated a dispute. Money showed up in the checking account a couple of days later. 9 days after I originally started the transaction. I went in and canceled the dispute.

I can say this about Citi. They make disputing transactions very easy! Feels good to have a CC issuer stand behind you.

They could clearly see on their end the transaction was processed. Regardless of what the FI said.