USAA Cash Advance/Convenience Check Fee

[ceejx]

Just noticed this, figured I'd share, this blows my mind since I have an offer for 0% on BT/CC until 05/14 as long as I use it before the end of the year, that I'm heavily weighing on if I want to accept:

3% of the amount of each cash advance (maximum fee for a convenience check:$200). Fee waived when transferring funds electronically to a USAA deposit account.

EDIT: this is only for cash advances, Bts/CCs are still 3% max $200.. helps if i read what I highlight (transferred electronically).. 

[greeneman21]

Good to know if an emergency comes up.

[ChesterPDexter]

Yes, I just did this yesterday - the cash advance from a USAA credit card straight to my USAA checking account, and there's never a fee for that.

Also, I did the BT/CC offer earlier in the year.  But keep in mind, those offers don't include cash advances.  Cash advances start charging interest right away at your  normal credit card APR (as far as I know USAA never has separate rates for purchashes and cash advances) but I clarified this with the representatitve:  That offer you got is for balance transfers or writing convenience checks only - the stated interest rate will apply for those, but it will NOT apply if you take a cash advance.

edit:  I guess we're both talking about two different things:  1. the fee, and 2. the APR.  You're right that you have to pay a fee for the BT/CC offer.  But keep in mind, you can't do a cash advance and still get the 0% that they're offering.  Also, as for the BT/CC fee, I was counting on paying the "up to $200" and I was excited when I found out that my account was established long enough ago that I got grandfathered in at a cap of $75, not $200.   I can't remember how old the account has to be to qualify for that, but it was at least a year (maybe two or more.)

[ceejx]

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@ChesterPDexter wrote:

Yes, I just did this yesterday - the cash advance from a USAA credit card straight to my USAA checking account, and there's never a fee for that.

Also, I did the BT/CC offer earlier in the year.  But keep in mind, those offers don't include cash advances.  Cash advances start charging interest right away at your  normal credit card APR (as far as I know USAA never has separate rates for purchashes and cash advances) but I clarified this with the representatitve:  That offer you got is for balance transfers or writing convenience checks only - the stated interest rate will apply for those, but it will NOT apply if you take a cash advance.

edit:  I guess we're both talking about two different things:  1. the fee, and 2. the APR.  You're right that you have to pay a fee for the BT/CC offer.  But keep in mind, you can't do a cash advance and still get the 0% that they're offering.  Also, as for the BT/CC fee, I was counting on paying the "up to $200" and I was excited when I found out that my account was established long enough ago that I got grandfathered in at a cap of $75, not $200.   I can't remember how old the account has to be to qualify for that, but it was at least a year (maybe two or more.)

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Yeah I got excited at first when I saw that until I thought it out. But even with a max $200 fee, that could be very beneficial to paying off a high interest loan/card w/ no interest until may 2014..

on that note, did you already have products w/ USAA and how much were you approved for?

[ChesterPDexter]

Yes, I've been a member for a very long time and I have four credit cards with them:  Two World cards (one of them started as World and the other was a regular MC but they upgraded it), one AMEX, and the Rate-Advantage card.  Honestly, I don't want or need that many cards but when I applied for the Rate-advantage, I thought it would have better terms than the other but it has the worst terms (ironically, the highest rate.)

They gave me the same offer and it was for three of the cards, but not for 0%, it was like 6%, 6%, and 7%.  The amounts were up to the limit (all of them were open) and those are like $5,000, $5,000, and $4,000.