USAA AA Cash Advances?

[HeilFico]

Hi guys, first time posting!

I have learned a WEALTH of information here. 

I will be more than happy to facilitate further information as requested. Here's what I'm trying to do. I'd like to take out a $2500 Cash Advance for a small project I am undertaking. I will have it paid off before the bill cuts. More than likely within 2-3 weeks. If all goes well I will probably be doing this again once a month for the next 2-3 months. Basically I have an opportunity to purchase vehicles and re-sell for a profit. Once I have enough capital I will not have to use USAA at all. Finally, if anything goes sour I do have the funds to re-pay USAA within the time-frame I originally outlined. (before the statement cuts) I just don't want to deplete my savings. At the same time I am TERRIFIED of AA. I have earned these limits. $6K on two separate cards for a total of $12k, so I don't want to lose them. I know some banks are more conservative than others when it comes to this, and it can trigger a flag. I called and explained my situation and they seemed very receptive. They did advise I would suffer no AA. (who trusts CSR's though, LOL)

Anyone have any experience cash advancing with USAA with high amounts and frequency?

Also, I just took out a 20k auto loan with them so I don't want another HP for a personal loan. The personal loan options they offer are not competitive rate wise. If I take out a cash advance for $2500 for 30 days they quoted me at less than $40 for the month. I will not have to pay a cash advance fee since its going into my USAA checking account. I don't want to take out a second auto loan as it will be a quick flip and I can't afford for USAA to delay and hold the title.

Any input appreciated! 

[LS2982]

I would open up a LOC with a local CU if you can.

[Ron1]

I have seen people doing it that with USAA from other wbsite and they closed his/her credit card account.  It is not a good idea to get cash advance from credit card. They think you might have financail problem.  You had better to get personal loan/ commercial auto loan. I think the rate is much lower than credit card cash advance rate. By the way, they also charge cahs advance fee. By the way, they sent me cahs advance checks several times in the past and it wen to the shredder.

Ron.

[HeilFico]

I appreciate the feedback guys. Looks like I'm shredding the checks I asked them for, lol. 

To tell you the truth I was kind of leaning towards applying for the loan, but getting another HP was really the only issue. I guess a HP is better than losing a creditline I have worked so hard to obtain. 

[coachmiff]

I do this all the time with usaa--and I did call and told them my plan and they assured me no aa---remember you can only take out a max of 2500 per day and 5000 for the month--I to transfer it to my usaa checking and their is no fee--actually their is 1.75 is what I was charged--I even transfered one of my usaa 2500 cash advances to discover it for the 0% balance transfer for 14 months but had to pay it 3% to do so--It was worth it in my case--and I do pay balance in full each month--usaa won't let you down!

[HeilFico]

So the plot thickens, lol. Really confused at this point. How often do you use this feature coachmiff? 

[paulbrapp]

I have a world MC and Amex with USAA....   I have cash advanced on both of them and have never had a problem... It even states in there personal loan section if you need $2500 or less to look into their credit cards.  There is a reason that they don't charge any fee if it is deposited directly into a USAA account.

[nicholasyud]

There no fee and charge if you transfer to your checking account ????? Am I missing something ????

[HeilFico]

You do not pay the 3% cash advance fee that most lenders charge. (usually 3% or more of the amount requested depending on the institution) You just need to make sure they transfer it directly to your USAA checking account. You are however held to the daily apr based on your cardmember agreement. In my case I was quoted under $40, more like $36 to be exact for a $2500 cash advance for 30 days.

[dodgeball]

If you deposit it into your usaa checking its called quasi cash and USAA does not look upon it negatively