Hey all,
Hope everyone is doing well - sorry I haven't been active for a while...I've been busy (on the plus side, haven't had the temptation to app for anything).
I made a goof yesterday and I was wondering what people thought of it.
Story: Friday afternoon after work I stopped by MSUFCU where they sell discounted Cedar Point tickets (taking my gf there next week) and I went in, asking "do you accept credit cards to purchase Cedar Point tickets?" The teller said yes and swiped my CSP, commented on the heft of the card, and gave me a receipt to sign, at which point I was given my copy and it said cash advance on it.
I should have known, I was just hoping to earn points on the transaction instead of using available funds that I had in my bank account - I guess it's an addiction 
(knowing what I know about CC's I accept the responsibility that I should have known that it would be coded as a cash advance).
That being said, I called Chase CS and offered to pay the CA and my statement in full over the phone and explained the CA as a mistake and told the rep "I just didn't realize, I'm sure you can see I have more than enough funds in my accounts to pay not just the CA but the other current statement charges." She replied that she noticed I pay my statements in full so that helps, but that I just have to wait for the pending transaction to clear to pay the cc to zero and then just pay the fees when the statement cuts.
Now, I have no issue with that, but I'm wondering what that CA just did to my standing with Chase.... they've been pretty great to me personally and I'd hate for an honest mistake to provoke A.A. (I don't think it will, but I do know many lenders looks at cash advances as highly risky).
Thanks in advance 
I'm sure they record all phone calls to refer back to. Hey they are in it to make money, cash advance they make more money. You pay off your balance every month I bet they wish you would do more cash advances. Unlike someone who pays the minimum and does it all the time.
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
@j_casteel wrote:That sucks it was coded as a cash advance, but I really don't think Chase is going to care much at all. In your case especially since you PIF, have the cash, etc they can clearly see this is no risk to them and just a fluke that you made a purchase that was coded as a CA.
Good Luck
Thanks for the quick reply!
Yeah, you're probably right. I always wonder about cash advances; so many lenders absolutely hate them, yet they're still a feature on their cards...is that part of Visa/MC rules? Some of the stories on here when I searched cash advances got me worried enough to post . But your points (like the CSR mentioned) definitely help show that it was a fluke.
...side note...the added discount I had gotten from buying at the CU was more than deleted by the CA fee + int ... lesson learned! 
@coldnmn wrote:I'm sure they record all phone calls to refer back to. Hey they are in it to make money, cash advance they make more money. You pay off your balance every month I bet they wish you would do more cash advances. Unlike someone who pays the minimum and does it all the time.
I'll be asking for that recorded call if something happens, haha. And that is an excellent point, cold! All banks want our money!! How are ya doin? Still here on the forums spreading your wise words to all, I see.
@longtime_lurker wrote:
@j_casteel wrote:That sucks it was coded as a cash advance, but I really don't think Chase is going to care much at all. In your case especially since you PIF, have the cash, etc they can clearly see this is no risk to them and just a fluke that you made a purchase that was coded as a CA.
Good Luck
Thanks for the quick reply!
Yeah, you're probably right. I always wonder about cash advances; so many lenders absolutely hate them, yet they're still a feature on their cards...is that part of Visa/MC rules? Some of the stories on here when I searched cash advances got me worried enough to post
...side note...the added discount I had gotten from buying at the CU was more than deleted by the CA fee + int ... lesson learned!
One problem with cash advances is the fees, e.g. 5%.
If you avoid the fees, for example via a CU card, then the other issue is whether the lender cares or not.
Some do and some don't, and among the ones that often don't are CUs. Their advertising for their CCs often mentions that the cash advance rate is the same as the purchase rate, and that cash advances have no fees. For these lenders, a cash advance is effectively the same as an LOC. My PSECU Visa has a 9.9 cash advance rate, and the LOC rate is 12.9.
If you need to take a cash advance, I'd use the MSUFCU card you've got.
@Anonymous wrote:
@longtime_lurker wrote:
@j_casteel wrote:That sucks it was coded as a cash advance, but I really don't think Chase is going to care much at all. In your case especially since you PIF, have the cash, etc they can clearly see this is no risk to them and just a fluke that you made a purchase that was coded as a CA.
Good Luck
Thanks for the quick reply!
Yeah, you're probably right. I always wonder about cash advances; so many lenders absolutely hate them, yet they're still a feature on their cards...is that part of Visa/MC rules? Some of the stories on here when I searched cash advances got me worried enough to post
...side note...the added discount I had gotten from buying at the CU was more than deleted by the CA fee + int ... lesson learned!
One problem with cash advances is the fees, e.g. 5%.
If you avoid the fees, for example via a CU card, then the other issue is whether the lender cares or not.
Some do and some don't, and among the ones that often don't are CUs. Their advertising for their CCs often mentions that the cash advance rate is the same as the purchase rate, and that cash advances have no fees. For these lenders, a cash advance is effectively the same as an LOC. My PSECU Visa has a 9.9 cash advance rate, and the LOC rate is 12.9.
If you need to take a cash advance, I'd use the MSUFCU card you've got.
My Barclay Ring charges $1 and 8% interest on cash advances. I have never used it and only in an emergency or an Oopsie would I ever do it.
@Anonymous wrote:
@longtime_lurker wrote:
@j_casteel wrote:That sucks it was coded as a cash advance, but I really don't think Chase is going to care much at all. In your case especially since you PIF, have the cash, etc they can clearly see this is no risk to them and just a fluke that you made a purchase that was coded as a CA.
Good Luck
Thanks for the quick reply!
Yeah, you're probably right. I always wonder about cash advances; so many lenders absolutely hate them, yet they're still a feature on their cards...is that part of Visa/MC rules? Some of the stories on here when I searched cash advances got me worried enough to post
...side note...the added discount I had gotten from buying at the CU was more than deleted by the CA fee + int ... lesson learned!
One problem with cash advances is the fees, e.g. 5%.
If you avoid the fees, for example via a CU card, then the other issue is whether the lender cares or not.
Some do and some don't, and among the ones that often don't are CUs. Their advertising for their CCs often mentions that the cash advance rate is the same as the purchase rate, and that cash advances have no fees. For these lenders, a cash advance is effectively the same as an LOC. My PSECU Visa has a 9.9 cash advance rate, and the LOC rate is 12.9.
If you need to take a cash advance, I'd use the MSUFCU card you've got.
Thanks for the tips! I had no need (dire or otherwise) to take a cash advance, it was a simple "oops" moment, and I knew I very well couldn't just reverse the transaction to not get hit with the fees. That being said, I did use my MSUFCU card one time for a cash advance at 8.9 and no fee to pay one rent when work's payroll went nuts and i got paid for 8 hours instead of 80 and rent was due...they didn't seem to mind at all.
My question here was more of a "how much does Chase care about a single cash advance?" I don't have that experience with them (nor did anything come up when I searched), but this forum is a wealth of knowledge so I figured I'd shoot!
That really sucks! As it clearly wasn't a CA, you should politely (or not so politely) ask Chase to waive the fees and interest. You bought goods with your CC. If they don't play along, you can escalate appropriately.
Basically, any purchase at a bank gets classed as a CA because it's assumed you're buying money orders, wire transfers, AMEX gift cards, etc. It's quite analogous to MCCs (i.e. soda bought at a gas station is a gas purchase). Your CU should have known better!
