Cap1 QS Cash Advance amount same as Credit Limit?

[yudeology101]

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@clocktick wrote:

That is interesting!  I have $1500/4000 for cash advance.  I just got a CLI last week so will be interested to see if it changes when next statement comes out.

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Wow, so far everyone has different Cash Advance limit amounts unless it is the same as their credit line....Shall we put our heads together and see how this works?  I'm not a big fan of Cash Advance either,  but kinda curious about this.

[daybreakgonesXe]

My QS has this as well, however it's been like that ever since it's been an Orchard secured at a lowly $200!

Even when it transferred over to Cap One as a Platinum. I'm assuming mine was likely due to grandfathering of terms, but based on some other responses it could very well be a condition of the QS.

[tskstorm]

My QS has a 7500 CL and a 3650 cash limit. I just got this card within the week.

[tskstorm]

$3750, typo. Unable to edit from mobile sorry.

[fot1]

Interesting.. My cash limit  is the same as my credit limit. My card started as orchard bank then went to Platnium and just PC'd to Qs.

[gdale6]

Cash advance limits are something born in the last decade, prior to that there was no such thing one could walk into a bank and get the limit in cash with no questions asked. To me such limits are meaninless as I have checks laying around for all accounts that I can BT right to the limit at discount rates or the purchase rates. A Cap-1 that I blew off in Jan had a 1250 cash limit when the CL was more than double, ano cap-1 that I still have the cash limit & CL are the same.

[chfenton]

It might have to do with the limits.  I have a $20,000 credit limit on my QS and "only" $10,000 is available for cash.

[MitchL]

My Cap1 Platinum was an Orchard card.  Just recently received CLI to $800.  I have $800 as available cash limit.  BUT my APR for cash advance is lower than my purchase APR.  20.9% vs 24.9%.  I called to see if I could get lower APR and was told not available at this time.  I also verified that my APR for cash advance was indeed lower.  The rep acted like it was the norm.  I never used the card since it had such a low limit and was denied CLI in the past due to not using the card and not making 3 consecutive minimum payments on it.  So the last couple months I bought gas on it and actually waited for the statement to close before paying in full for 3 months and I received the CLI.

[SisterGirl]

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@MitchL wrote:

My Cap1 Platinum was an Orchard card.  Just recently received CLI to $800.  I have $800 as available cash limit.  BUT my APR for cash advance is lower than my purchase APR.  20.9% vs 24.9%.  I called to see if I could get lower APR and was told not available at this time.  I also verified that my APR for cash advance was indeed lower.  The rep acted like it was the norm.  I never used the card since it had such a low limit and was denied CLI in the past due to not using the card and not making 3 consecutive minimum payments on it.  So the last couple months I bought gas on it and actually waited for the statement to close before paying in full for 3 months and I received the CLI.

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My Capital One and Navy Federal allows me up to my total credit line as cash advance available, but no other lender !

SisterGirl

[mrgoattoo]

"I thought this was pretty weird....My Cap1 QS has a $4.5k limit and i keep seeing my 'Available Cash' limit as same as my actual credit limit....All my other cards offer around anywhere between $400~$1.5k for cash advances, but never this high as the actual credit limit.   So just got on live chat w/ Cap1 and it's confirmed:"

Thats how my Citibank is. I can call them and get a 'balance transfer' where they put up to my CL ($10,000) into my checking account.

2 Years ago I got $5000 this way with a year 0%APR (because it was treated as a transfer instead of cash in this case) so we could replace our car that was stolen. They kept asking me if I wanted more and reminding me that I can get up to the CL in cash for any thing I want it for.

Actually I got curious and just checked my CapOne and its the same way....$4500 CL and the same for Cash Limit.

I think all the rest are like 1/5th of the CL available for cash on my cards.