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Which credit cards provide large Cash Advance limits?

Established Member

Which credit cards provide large Cash Advance limits?

Hello everyone! I do a lot of real estate transactions and often need access to capital. I have missed a couple deals because I did not have enough cash for transaction as I had expensed it on another transaction or used for another purpose. I have 750 credit score and around 200k in credit limits with 0 balance. I am curious which credit cards offer cash advance for full credit line or close to it. I know some allow you such and am unfamiliar with which ones do. Any help is appreciated. 

Message 1 of 32
31 REPLIES 31
Established Contributor

Re: Which credit cards provide large Cash Advance limits?

If you're trying to do regular cash advances in large amounts, PLOCs might be a better product for you.


Message 2 of 32
Moderator

Re: Which credit cards provide large Cash Advance limits?

Would definitely agree that a PLOC or CLOC would often be a better option.  Many credit unions allow the full credit line for cash advances, and if the APR + advance fee (some CU cards don't even charge this fee, although if taking from an ATM there would be a fee passed on of course) is lower than a line of credit it could make sense.  My NFCU cards are only about 30% of the credit limit, but both of my PenFed cards, NASA FCU card, and BECU card allow the full amount - so just between those last 4 I could pull out $100k+ if I needed to.

 

I have two cards from BOA that have $30,000 cash limits (on $90,000 and $99,900 limits) but I think those are artificial caps and can be raised by calling them.  BOA (and others like Discover) also typically has convenience checks and direct-to-checking balance transfer promos available, so that would eliminate the cash advance fee and replace it with a balance transfer promo and it can be deposited directly to your checking account.  If these are short-term advances, using something like a Discover 0% fee 4.99% APR offer would be much cheaper than cash advance fees or the usual APRs on lines of credit.

Message 3 of 32
Moderator

Re: Which credit cards provide large Cash Advance limits?

In addition to what K-in-Boston mentioned above, Citi is another lender that allows funds to be deposited into a deposit account whenever a BT promotion is available @jpmanciniii.  Not sure if you have any Citi, BoA or Discover CCs in your arsenal.

Message 4 of 32
Established Member

Re: Which credit cards provide large Cash Advance limits?

The convenience checks and direct to checking balance transfer, could you explain that a little more? I have seen convenience checks, but not overally familiar with them nor fees associated with them. The direct to checking balance transfer, I have not heard of before. Interested to hear more. 

Message 5 of 32
Super Contributor

Re: Which credit cards provide large Cash Advance limits?


@jpmanciniii wrote:

Hello everyone! I do a lot of real estate transactions and often need access to capital. I have missed a couple deals because I did not have enough cash for transaction as I had expensed it on another transaction or used for another purpose. I have 750 credit score and around 200k in credit limits with 0 balance. I am curious which credit cards offer cash advance for full credit line or close to it. I know some allow you such and am unfamiliar with which ones do. Any help is appreciated. 


Your best cards for cash advances are no-fee, low interest, non-rewards platinum cards from credit unions. Good examples are: NFCU Platinum, PenFed Promise (may not be offered at this time), Unify FCU variable rate Platinum; Digital Credit Union Platinum, Chartway FCU Platinum.

 

 


Total revolving limits 653000 (575000 reporting)

Message 6 of 32
Established Member

Re: Which credit cards provide large Cash Advance limits?

I have the following. I have a USAA, Keesler FCU, Citi Double Cash, Apple Card, Delta Platinum Amex Card, Penfed Visa Platinum, Bank of America Cash rewards and AOD Federal Credit Union. Do any of those help? 

Message 7 of 32
Community Leader
Mega Contributor

Re: Which credit cards provide large Cash Advance limits?

Also PSECU allows to takeout to your limitSmiley Happy

Message 8 of 32
Established Contributor

Re: Which credit cards provide large Cash Advance limits?


@SouthJamaica wrote:

@jpmanciniii wrote:

Hello everyone! I do a lot of real estate transactions and often need access to capital. I have missed a couple deals because I did not have enough cash for transaction as I had expensed it on another transaction or used for another purpose. I have 750 credit score and around 200k in credit limits with 0 balance. I am curious which credit cards offer cash advance for full credit line or close to it. I know some allow you such and am unfamiliar with which ones do. Any help is appreciated. 


Your best cards for cash advances are no-fee, low interest, non-rewards platinum cards from credit unions. Good examples are: NFCU Platinum, PenFed Promise (may not be offered at this time), Unify FCU variable rate Platinum; Digital Credit Union Platinum, Chartway FCU Platinum.

 

 


I would agree 100%.

I have been told directly by CSR at several credit unions to use the cash advance on a CC since they don't view it as derogatory like a bank issued CC.

One once tried to convince me not to open a PL and take the cash out on the CC instead.

 

Jax

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Message 9 of 32
Moderator

Re: Which credit cards provide large Cash Advance limits?


@jpmanciniii wrote:

I have the following. I have a USAA, Keesler FCU, Citi Double Cash, Apple Card, Delta Platinum Amex Card, Penfed Visa Platinum, Bank of America Cash rewards and AOD Federal Credit Union. Do any of those help? 


How are your limits on USAA, Citi DC, BoA?  How much aggregate in cash are you looking to use or w/d?  Do you have any Balance Transfer offers showing on your BoA or Citi CCs?  

Message 10 of 32
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