Credit limit Vs. Cash credit line

[Shijinlife]

I recently got CLI for three of my credit accounts (BOA Cash Rewards, Citi Diamond Preferred and Bill Me Later) yeah! But I noticed that the cash credit lines all remain the same. 

I wonder should cash credit line goes up proportionally with total credit line? How does this work? Thanks ahead!

[trumpet-205]

Cash credit line is how much you can take cash advances out.

Each lender calculates cash credit line differently. Some based on a percentage of total credit limit (varies among lenders), while others uses fixed amount.

[hyp0luxa]

Sometimes the cash limit will be raised a few days after the CLI. When I got my first BOA CLI, the cash limit was raised proportionally, but it took about a week or so, IIRC

[maiden_girl]

Cash advance limits can vary with each card and each lender. I have a 5k CL with Cap1 yet they only let me take 250. I have a 5k line with Discover and they let me take 800. Each lender varies and sometimes uses a fixed amount or a amount that increases with your CL.

[Membersince2013]

Not to be a jerk, but get rid of BillMeLater. You'll regret it.

[jm1991]

does the cash line depend on the person? because some of my cards have a relatively high cash advances. My BoA card with credit line of 1700 has a 1200 cash credit line. BoA credit line 2900 only 600 cash credit line. Chase with credit line of 7000 has 1400 cash limit. I dont know about my amex, i could not find it anywhere or if it has one. 

[hyp0luxa]

I'm not really sure. My Chase, BOA and PayPal MC are 20%, WalMart is just under 10%, Cap1 is 5% and NFCU is 100% 

[Shijinlife]

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@trumpet-205 wrote:

Cash credit line is how much you can take cash advances out.

Each lender calculates cash credit line differently. Some based on a percentage of total credit limit (varies among lenders), while others uses fixed amount.

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Thank you @trumpet-205!

[Shijinlife]

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@hyp0luxa wrote:

Sometimes the cash limit will be raised a few days after the CLI. When I got my first BOA CLI, the cash limit was raised proportionally, but it took about a week or so, IIRC

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That makes sense. Let me wait for a few more days. Thank you @hyp0luxa!

[Shijinlife]

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@Membersince2013 wrote:

Not to be a jerk, but get rid of BillMeLater. You'll regret it.

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I don't use BML very often. Only for some deals with good discounts like SkinStore.com