Cash Advances

[Carloscda40]

Do credit card companys frown unpon this even if it's paid off within a week?

Does it help with score?

[tsquad131]

i think it just shows more riskier behavior to them

[Anonymous]

Not necessarily with my BofA experience

When I had my very first credit card with BofA 3 years ago at the age of 18, I took out $700 cash advance without knowing the consequence. Once I realized I was getting hit with multiple cash advance fees, I had the payments made within months. After paying all the ridiculous fees, I called BofA for a higher CLI. Immediately the CSR congratulated on my recent payments and gave the CLI I asked for.

IMO most creditors do find cash advance as a red flag, but at the same time they're benefiting from the fees.

Recently BofA has been offering me 0% cash advance until 2012 with a 4% transaction fee( It's similar to balance transfer ).

 Not taking that bait

[score_building]

One major with perhaps a lower incidence of AA in response to cash advance is Cap1 from what I've seen, otherwise could save fees and major headache by using a low rate CU card. Generally viewed as high risk behavior no matter what current profile looks like though some may slip by without incident based on other strengths.  Not worth the risk of AA, to do it with a bank generally speaking.

[DI]

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@Carloscda40 wrote:

Do credit card companys frown unpon this even if it's paid off within a week?

Does it help with score?

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No they do not.  They wouldn't offer the service if they didn't want you to use it.    Just pay whatever cash advance you get in full within 30 days. 

[score_building]

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@DI wrote:

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@Carloscda40 wrote:

Do credit card companys frown unpon this even if it's paid off within a week?

Does it help with score?

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No they do not.  They wouldn't offer the service if they didn't want you to use it.    Just pay whatever cash advance you get in full within 30 days. 

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Incorrect.

[DI]

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@score_building wrote:

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@DI wrote:

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@Carloscda40 wrote:

Do credit card companys frown unpon this even if it's paid off within a week?

Does it help with score?

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No they do not.  They wouldn't offer the service if they didn't want you to use it.    Just pay whatever cash advance you get in full within 30 days. 

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Incorrect.

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Back during my college years when I got my first Citi card, I got cash advances all the time.  Every 3 months I had  CLIs waiting on me. 

[score_building]

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@DI wrote:

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@score_building wrote:

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@DI wrote:

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@Carloscda40 wrote:

Do credit card companys frown unpon this even if it's paid off within a week?

Does it help with score?

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No they do not.  They wouldn't offer the service if they didn't want you to use it.    Just pay whatever cash advance you get in full within 30 days. 

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Incorrect.

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Back during my college years when I got my first Citi card, I got cash advances all the time.  Every 3 months I had  CLIs waiting on me. 

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YMMV.  However as PP it is generally viewed as a red flag which can result in AA in some cases.

[tsquad131]

the fees arent worth it to me when using a bank for cash advances. I use my 2 local CU's Visa's for Cash advances if needed since its a fee free

[DI]

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@tsquad131 wrote:

the fees arent worth it to me when using a bank for cash advances. I use my 2 local CU's Visa's for Cash advances if needed since its a fee free

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They're sure not!  I didn't no any better 10 years ago.  I was just a starving college student.