Credit Tips: Credit Card Cash Advance Tips

Posted On: April 1, 2006

Author: rmecseki
Posted: Mon Oct 24, 2005 4:55 pm
Post subject: Cash advance question.

I have a 22 k credit line. Can I get all of this money from an ATM as cash advance? If not what % of my credit line can I get as cash advance?

Author: scarymary
Posted: Mon Oct 24, 2005 5:12 pm
Post subject:

There should be an amount listed on your statement as to what you can get out as a cash advance.

Something like… available credit = $$$$$ Amount available for cash advances = $$$$$

The two amounts may be different.

Author: Polonius
Posted: Mon Oct 24, 2005 5:57 pm
Post subject: Credit Card Cash Advance Tips

The amount you can get at an ATM is also limited–typically to $200-$500 per day. If you want to draw out your entire cash limit as a cash advance, go to any bank offering your kind of card (e.g., MasterCard) and ask for the advance at a teller window.

Remember, cash advances usually have a higher interest rate, a fee of typically 3%, and no grace period. Far better to draw the money out as a balance transfer if you can…