Cash advance question? Over the limit fee related

[improvent363]

Will you get an over-the-limit fee if you take out exactly the Cash Advance limit you have on a CC. Ex: CAL is $100 and you take out $100. So,  do you get an over-the-limit fee because taking out CA from ATM has a fee like $1-3-$5 so it will actually become $101-103. And, so you get over-the-limit fee because of going over the limit.

[tsquad131]

overdraft fees are related to checking accounts, your talking about credit cards, there is over the limit fees with credit cards some dont have them, its best to check with your financial institution who issued the credit card to see if there is any over the limit fees for your product. If you do go over the limit even by an atm fee you will get an over the limit fee.

[improvent363]

my bad. I corrected the word from overdraft fee to over-the-limit fee.

[chan85]

i had an emergency last week and i needed to take cash on my card. the limit was $200 per day in cash. so i tried to take the full $200+$2 service fee from the atm and it wouldnt allow me. i had to reduce the amount to be under $200 total. but i think it really just depends on the bank or card you are using. its best to call them and ask.

[Creditaddict]

Avoid Cash Advance unless you are just dead out of options... it scares banks unless your talking about Walmart/Discover that allows cash back at register at Grocery stores... that doesn't count as a cash advance.

[Anonymous]

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@Creditaddict wrote:

Avoid Cash Advance unless you are just dead out of options... it scares banks unless your talking about Walmart/Discover that allows cash back at register at Grocery stores... that doesn't count as a cash advance.

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A blanket statement that may or may not be true... I have done tons of cash advances for various reasons over a large range of amounts and repayment times... Never had any AA, banks never got "scared."

However, I do agree with the statement, "Avoid cash advances"... but only because of the high interest rate and fees.  However, with some credit unions, it makes no difference in APR if you use the card for a cash advance, and some have no fees.  YMMV.

As for the original question... it depends on whether your cash advance limit is the same as your total credit limit.  If your card has the total CL available for cash advance and you exceed it, obviously you get an over-limit fee (and possibly more AA).  If your cash advance limit is <100% of your total credit line, you should not receive a fee if you exceed your cash limit due to a fee.

Good luck!