cancel
Showing results for 
Search instead for 
Did you mean: 

Navy Federal Cash Advance feature

Community Leader
Super Contributor

Navy Federal Cash Advance feature

Hey guys, very interested in any info regarding using this feature on Navy Federal credit cards. Ive actually used this twice in last 2 weeks to help out my Ex in the US , tried Zelle for first time lol. She needed a few bucks , Navy has a minimum $50 to take out of credit card. It was super quick but i was really worried that interest starts day one so i tried to pay it back almost as fast as i took it out from my personal checking. Just had to wait for it to post.

Didnt see any trailing interest so just wondering if anyone knows the downlow on this, the rules etc. I coild call in but meh, dont feel like it tonightSmiley Wink. Thanks for any insight.
Message 1 of 13
12 REPLIES
Super Contributor

Re: Navy Federal Cash Advance feature


@AverageJoesCredit wrote:
Hey guys, very interested in any info regarding using this feature on Navy Federal credit cards. Ive actually used this twice in last 2 weeks to help out my Ex in the US , tried Zelle for first time lol. She needed a few bucks , Navy has a minimum $50 to take out of credit card. It was super quick but i was really worried that interest starts day one so i tried to pay it back almost as fast as i took it out from my personal checking. Just had to wait for it to post.

Didnt see any trailing interest so just wondering if anyone knows the downlow on this, the rules etc. I coild call in but meh, dont feel like it tonightSmiley Wink. Thanks for any insight.

You're a better man than I am. 

Zero percent financing is where the devil lives...



Message 2 of 13
Valued Contributor

Re: Navy Federal Cash Advance feature

Sorry that your sister is having trouble.

 

I have no experience with a Navy cash advance.

 

(Edit: I mean Ex)

Message 3 of 13
Senior Contributor

Re: Navy Federal Cash Advance feature

Based on the fees and APR, if I was gonna take out a cash advance on a card, it would be on my navy. I'm curious if there's any drawbacks to using it. Obviously immediate interest, but I mean is it frowned upon like with Amex?






***AD SPACE AVAILABLE***
Message 4 of 13
Regular Contributor

Re: Navy Federal Cash Advance feature

The interest will post after the payment due date, I use it occasionally when I know I have a bonus from work coming to fund my investments. Usually only for a few days (draw on Monday, paid by Friday.) Interest is nominal. I think last time was $.17 for $1200. 

CSR, CFU. FREEDOM, USAA AMEX, NFCU PLATINUM, WF SIGNATURE.

Message 5 of 13
Community Leader
Super Contributor

Re: Navy Federal Cash Advance feature

Thank you JMC907Smiley Happy Yeah i was reading up on it at Navy website. Even sent a sm. Good to know. Ill update if they tell me anything different.

Lol Tcbofade, we are still on good termsSmiley Wink though i was shocked at first she only ssked for $10 lol. Turned out i had to take out $50 sent it to my Navy checking then signed up and used Zelle . Sent the remaining $40 to my personal checking then paid $50 back to my card. Guess ill just wsit for the interest to postSmiley Wink
Message 6 of 13
Super Contributor

Re: Navy Federal Cash Advance feature


@AverageJoesCredit wrote:
Thank you JMC907Smiley Happy Yeah i was reading up on it at Navy website. Even sent a sm. Good to know. Ill update if they tell me anything different.

Lol Tcbofade, we are still on good termsSmiley Wink though i was shocked at first she only ssked for $10 lol. Turned out i had to take out $50 sent it to my Navy checking then signed up and used Zelle . Sent the remaining $40 to my personal checking then paid $50 back to my card. Guess ill just wsit for the interest to postSmiley Wink

Oooo ... h, AJC are you "poking the pig" ...? Smiley Surprised

Starting Score: 837 Fico TU08
Current Score: 850 Fico TU08
Goal Score: 850


Take the myFICO Fitness Challenge
Message 7 of 13
Community Leader
Super Contributor

Re: Navy Federal Cash Advance feature

I love 🥓🥓🥓🥓🥓🥓🥓🥓🐷🐖🐽😁

🦖
Message 8 of 13
Established Contributor

Re: Navy Federal Cash Advance feature

The interest should be very minimum. I took out 900 last June and paid it back in July and the it did not trail. Any amount already there(not cash advance) will be paid second to cash advances. I have done smaller ones but pay it back ASAP(within a week or two). I think they run these like CLOC where interest is charged from day one.

Message 9 of 13
Community Leader
Super Contributor

Re: Navy Federal Cash Advance feature

Lol, interest hit today, $0.06 . Tried to pay it but minimum payment is $5 . Things that mske you go hmmSmiley Wink
Message 10 of 13