best cash advance card? lowest interest etc

[MudkipsRKooL]

So I heard from a YTer, there's this credit card that you only pay 1% annually? so is this true? or is there some really good cash advance credit cards out there? I'm looking to use the money as a loan to invest.

[K-in-Boston]

That sounds like there is likely a scam involved. I am not aware of any credit cards offering cash advance APRs of 1%.  There are credit cards that offer very low or no cash advance fees (many credit union cards), but pairing that with an ongoing rate that low is unlikely by legitimate means.

An example of a card with very low cash advance fees would be the NFCU Platinum which does not charge cash advance fees, and the APR is a low 5.99% for purchases and 7.99% for cash advances.

[AverageJoesCredit]

Usually, MFers dont play well with YTers, we view credit differently

[Kylo]

I've noticed that people here seem to dislike AskSebby in particular... could you shed any light on why? 

[Anonymous]

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@MudkipsRKooL wrote:

So I heard from a YTer, there's this credit card that you only pay 1% annually? so is this true? or is there some really good cash advance credit cards out there? I'm looking to use the money as a loan to invest.

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Cash advances should be treated with a lot of caution. They can be fine for small amounts of cash when you otherwise couldn't get it from a debit card at an ATM. But, using a significant amount, especially when carrying a balance, can spook the bank. They may see it as a robbing peter to pay paul situation. Banks are increasingly nervous in this economy so this is not the light you want to shine on your account.

A less bad option would be to use the card for your everyday expenses and use your income/cash to invest. That wouldn't be a good option in many cases, just less bad. You still have to be careful about accumulating debt. Using credit cards to invest is a super high risk thing.

[K-in-Boston]

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@Kylo wrote:

I've noticed that people here seem to dislike AskSebby in particular... could you shed any light on why? 

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Credit "expert" makes profit from dispensing credit advice, which is often very incorrect.

[Peteyglad]

While not necessarily a cash advance I will sometimes use my Barclaycard for a "balance transfer." Basically they deposit money in my checking account and I usually pay a 2% fee and no interest for 15-18 months depending on the offer. 

So say you wanted $10,000. 2% of that would be $200 so you would have say 15 months to pay back the $10,200 with no interest.

The downside is you need to have an offer on your account, but the upside is you can do a balance transfer for a larger percentage of your credit limit as a cash advance usually.

[Andypanda]

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@MudkipsRKooL wrote:

So I heard from a YTer, there's this credit card that you only pay 1% annually? so is this true? or is there some really good cash advance credit cards out there? I'm looking to use the money as a loan to invest.

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Yter? 
edit: never mind, figured it out, YouTube 

[Anonymous]

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@MudkipsRKooL wrote:

So I heard from a YTer, there's this credit card that you only pay 1% annually? so is this true? or is there some really good cash advance credit cards out there? I'm looking to use the money as a loan to invest.

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Credit unions can come in handy here. Say you have a FCU that charges no CA fee, like RBFCU.

 * Advance $10,000 into checking -- there's your "investing dollars." 

 * Then originate a low interest (0 - 1.9%) BT from a different FCU (or regular bank) like NFCU. 

You'll end up paying for a few days to a couple of weeks worth of interest (9.65% @ RBFCU) -- about $2.65 per day in this example, plus the cost of the BT (0 - $190). 

Simple enough.  

[AverageJoesCredit]

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@Andypanda wrote:

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@MudkipsRKooL wrote:

So I heard from a YTer, there's this credit card that you only pay 1% annually? so is this true? or is there some really good cash advance credit cards out there? I'm looking to use the money as a loan to invest.

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Yter? 
edit: never mind, figured it out, YouTube 

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I rest my case