Need 100K cash Advance; Strategy Advice Please

[Anonymous]

I would like to get to obtain credit cards through which I can take up to 100K as Cash advance and then pay it off slowly. What are my options? My income is around 100K. 

My strategy: 

 Apply for multiple cash advance credit cards by credit Unions like the Digital Credit Union etc. 

 But will I get up to 100K? 

Please advice. And I don't have a year to get there, sooner the better ;-)

[JVille]

Not likely and the interest rate in cash advances would be high enough to sink a ship!
My husband and I each have our own Chase Sapphire Reserve w/ a limit of $34,000 but the Cash Advance Limit is only $6,800 on each card. So it would take many many cards to equal $100,000.
How bout Refi your home or loan against your 401k acct (max for 401k is $50,000).
Good luck

[marty56]

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@JVille wrote:
How bout Refi your home or loan against your 401k acct (max for 401k is $50,000).

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IMHO those options are a really bad idea.

Even for a medical emergency, I can't imagine a 100K cash adavance has any useful purpose.

[SouthJamaica]

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@Anonymous wrote:

I would like to get to obtain credit cards through which I can take up to 100K as Cash advance and then pay it off slowly. What are my options? My income is around 100K. 

My strategy: 

 Apply for multiple cash advance credit cards by credit Unions like the Digital Credit Union etc. 

 But will I get up to 100K? 

Please advice. And I don't have a year to get there, sooner the better ;-)

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My advice is to abandon the strategy.

While the best place to get credit card cash advances is a credit union, you won't be accepted for too many cards if you go on a card acquisition spree.

[JVille]

I’m not sure it’s your job or mine to tell someone their request hasn’t any useful purpose. No matter how you personally feel.

[Anonymous]

Thank you @Jville @Marty56 & @SouthJamica for your answers. 

After giving thought to your answers, I'm thinking to abandon the strategy. Had the ask been for 25K would your answers be different? 

My goal to have that financial security/flexibility just in case if I need to use it. 

[JVille]

Still a horrible idea and it would result in interest rates of over 20% and take multiple credit cards to even get that kind of money. I agree even at the lesser amount you would be unlikely to be approved for that many cards.
If your need is so important (dire) are there any other assets/ resources that are more practical and realist?

[Anonymous]

With your takehome pay, you should be able to sock away a couple grand a month.  In a year you will have 25k and in less than 4 100k.

"Just in case" may never happen and you will have saved on both sides of the equation.

[Anonymous]

No other assets. Need is not dire. I think that's it then  

I'm glad I bounced the question around. Thanks again.

[AverageJoesCredit]

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@JVille wrote:
I’m not sure it’s your job or mine to tell someone their request hasn’t any useful purpose. No matter how you personally feel.

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Op, asked a question  and  wanted thoughts on said subject.   Its no ones job to answer or post responses to  forum asked questions but  there will always be two sides to the coin. Even though i dont like cc's advertising cash advance feature for their cc, its generally a bad idea to use them . Asking to take 100 K in them is begging for trouble in some form or the other. Of course, thats my humble opinion.