@Jnbmom wrote:
@PicoFico wrote:
@Anonymous wrote:Congrats on your approval @Anonymous!
Based on the given APR and the amount and current NFCU policy you would be looking at about $40 a month for your minimum give or take.
And for perspective, how long might it take someone to pay that off, given minimum payments are all that could be afforded? Just thought that might be valuable for newcomers
and finally,
Congrats on the approval!!!!
It is usually not advised to take out a cash advance on credit cards. If one can only afford minimum payments to pay it back that is a disaster waiting to happen 🥺
There is no stigma using a Cash Advance with Navy Federal. It does not bother them in the least and in no way implies financial distress unlike other lenders who advertise this feature yet frown upon its use.
@AverageJoesCredit wrote:
@Jnbmom wrote:
@PicoFico wrote:
@Anonymous wrote:Congrats on your approval @Anonymous!
Based on the given APR and the amount and current NFCU policy you would be looking at about $40 a month for your minimum give or take.
And for perspective, how long might it take someone to pay that off, given minimum payments are all that could be afforded? Just thought that might be valuable for newcomers
and finally,
Congrats on the approval!!!!
It is usually not advised to take out a cash advance on credit cards. If one can only afford minimum payments to pay it back that is a disaster waiting to happen 🥺
There is no stigma using a Cash Advance with Navy Federal. It does not bother them in the least and in no way implies financial distress unlike other lenders who advertise this feature yet frown upon its use.
I'd have to agree.. seeing they only mark up the APR 2%, as long as it's paid back in an efficient manner it's not bad at all. Most large banks would almost double the apr for that.
@Cred4All wrote:
@AverageJoesCredit wrote:
@Jnbmom wrote:
@PicoFico wrote:
@Anonymous wrote:Congrats on your approval @Anonymous!
Based on the given APR and the amount and current NFCU policy you would be looking at about $40 a month for your minimum give or take.
And for perspective, how long might it take someone to pay that off, given minimum payments are all that could be afforded? Just thought that might be valuable for newcomers
and finally,
Congrats on the approval!!!!
It is usually not advised to take out a cash advance on credit cards. If one can only afford minimum payments to pay it back that is a disaster waiting to happen 🥺
There is no stigma using a Cash Advance with Navy Federal. It does not bother them in the least and in no way implies financial distress unlike other lenders who advertise this feature yet frown upon its use.
I'd have to agree.. seeing they only mark up the APR 2%, as long as it's paid back in an efficient manner it's not bad at all. Most large banks would almost double the apr for that.
I don't think anyone has implied it would be stigmatic, only that there's more than meets the eye with it given 'minimum payments' as noted by OP. Or, it could be a 1 month stop-gap and paid off in 2 months, but we don't know, and it's better to hope for the best and prepare for the worst no?
Also not mentioned, interest is calculating the moment cash hits hand...
I mentioned it because Mom said its usually not advised , which is true for most bank cards. I felt it it important to stress the importance of knowing its ok to actually use this feature with Navy. Excellent point on the interest part though ime, its not too bad. I think a little interest for Navy more than compensates for them giving us huge lines that msny dont even use
@AverageJoesCredit wrote:I mentioned it because Mom said its usually not advised , which is true for most bank cards. I felt it it important to stress the importance of knowing its ok to actually use this feature with Navy. Excellent point on the interest part though ime, its not too bad. I think a little interest for Navy more than compensates for them giving us huge lines that msny dont even use
Not advised from a stigmatic perspective, got it! I learned something today. Thanks, AJC (not being sarcastic).
Exactly. I cant stand how they flaunt that feature upon approval or advertising for their card. Hey you have a $3k cash advance limit! Uhm , dont use it , we just joshin'
@PicoFico wrote:
@AverageJoesCredit wrote:I mentioned it because Mom said its usually not advised , which is true for most bank cards. I felt it it important to stress the importance of knowing its ok to actually use this feature with Navy. Excellent point on the interest part though ime, its not too bad. I think a little interest for Navy more than compensates for them giving us huge lines that msny dont even use
Not advised from a stigmatic perspective, got it! I learned something today. Thanks, AJC (not being sarcastic).
AJC sarcastic? .. why never
@M_Smart007 wrote:
@PicoFico wrote:
@AverageJoesCredit wrote:I mentioned it because Mom said its usually not advised , which is true for most bank cards. I felt it it important to stress the importance of knowing its ok to actually use this feature with Navy. Excellent point on the interest part though ime, its not too bad. I think a little interest for Navy more than compensates for them giving us huge lines that msny dont even use
Not advised from a stigmatic perspective, got it! I learned something today. Thanks, AJC (not being sarcastic).
AJC sarcastic? .. why never
Are you trying to get me grounded?!
I was saying 'I' wasn't being sarcastic!