CC utilization question

[ecxpa]

---

@Chris679 wrote:

---

@ecxpa wrote:

I'm afraid the focus for this question has gotten lost.  Maybe my question wasn't clear in the first place.  I just want to know if you are trying to get a CLI on a particular card, would getting a  cash advances on that card once or twice a month be looked at by the lender the same as charges.  I know there are high fees and such.  I do not NEED to get cash advance off the card, I have several debit cards but I'm just trying to show some spend on a couple of Cap1 cards with low CL.  They have denied me CLI's because of low usage/utilization whatever the correct term is.    They have AF's so I am loosing money on them anyway......planning to axe them if I don't get CLI. 

Thankx for all the input and insight.

---

Cap One cards aren't really going to grow with you.  If you don't use the card and it has an AF it seems like a no brainer to close the card, how does a CLI change things?

---

You are absolutely right it is a no brainer but like a lot of folks here it is one of my oldest cards ........I have a little ove 8.5K on 5 freaking cards, my oldest has 4.2K, hope to get it up to 7-8K and close the rest.  Absolutely no logic in keeping these cards and I am about ready to axe them all to be honest with you.  Just had a brain spasm I guess and the cash advance thing came to mind as a possibility to show a lot of spend without spending a lot.  I know there are fees and interest but if it moves the CL I can do it a time or two.

[Imperfectfuture]

Why don't you ask them to remove the fee? They do that you know.

[ecxpa]

---

@Imperfectfuture wrote:
Why don't you ask them to remove the fee? They do that you know.

---

No luck with that before.......but as a matter of fact.....I am about to get on their Chat Line and try again.

[ecxpa]

---

@ecxpa wrote:

---

@Imperfectfuture wrote:
Why don't you ask them to remove the fee? They do that you know.

---

No luck with that before.......but as a matter of fact.....I am about to get on their Chat Line and try again.

---

HOLY CRAP.........just got off of Chat Line with Cap 1.  I have an upcoming AF due on my QS1 card with 4.2K for $69 (transitioned HSBC/Orchard Bank); asked them to waive the fee but no dice.  Then the rep turned around and said I was eligible for upgrade to a no fee card.   They are sending me a no AF Venture Card, can't believe it.  Boy now this thread has really gotten of topic.....but that's OK I now have an upper tier Capital 1 Card.

[Anonymous]

If it means they are saving themselves the signup bonus or 40K pts, I can't see why they wouldn't.

[Gunnar419]

---

@Chris679 wrote:
I agree with the above, I don't think cash advance is ever a good idea. Should be only when you need it which should be never.

---

Well, not quite never. I did a $3k cash advance when I had a week to come up with $9k cash to buy a house. (That's the cost of the house, not a down payment.) So I wouldn't say NEVER. Definitely only under very limited circumstances, though.

However, to the OP, I agree that it's a terrible idea to take cash advances just to show activity. Cash advance fees are high. If you end up ever paying interest, the interest is punitive, and cash advances do worry cc issuers a lot. Just buy something as others have said.