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Cash Advance limit

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dannydannyFICO
Established Member

Cash Advance limit

if i call in to my credit card company (e.g. Chase, AMEX, etc) and request that the Cash Advance limit be reduced to zero, does the credit limit increase by that same amount...or is it different across companies?

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HoldingOntoHope
Valued Contributor

Re: Cash Advance limit

Your cash advance limit is usually set as a portion of your total credit line. Some companies do a 100% cash advance availability but it is uncommon. But to answer your question it is not over and above your credit line. If you take a cash advance it will reduce your available cash advance and reduce your total credit available the same amount.

 

So if I have a $5,000 total credit line and a $2,000 cash advance credit line my total credit is $5,000 not $7,000. Reducing the cash advance to 0 would still leave the credit line at $5,000. If your account is in good standing you can always ask for a credit limit increase if that is your goal.

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sosabe77
Contributor

Re: Cash Advance limit

I wasn't aware that they could readjust the cash advance limit.  But that makes sense.

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