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Credit card Cash Advance (CA) profile

Experiences and skills ymlulu 117次浏览 0个评论

Believe most people for credit card purchases and bills after the money is a Pro, but features much more than credit card shopping card as simple as that.Today, I will introduce you to one of the more popular features of credit card–Cash Advance.Even though you don't have to take it, but know the meaning of the Cash Advance, fees, payments, alternative methods is necessary.In case of emergency after large sums of unexplained fees wouldn't be banking income.

Credit card Cash Advance (CA) profile

1. What is a Cash Advance (CA)

Popular to say, Cash Advance (CA) from the credit card (credit card), cash (cash) or cash equivalents (cash equivalence).In General, you use a credit card on the ATM cash withdrawal is definitely CA, to the bank account money could be counted as CA.Need to be aware of is that debit cards (charge card) is not CA, such as Ink Bold,AMEX Premier Rewards Gold, which means they can not be used to draw.

1.1 when using Cash Advance

Some merchants don't accept credit cards, or do not accept a type of credit card (AMEX,VISA,DISCOVER,MASTER), when we may need to withdraw cash from the ATM.And if we don't have a Debit Card with no fee cash.So tore up the side of the Insert credit card to ATM machine to withdraw the consumer, produced at this time was CA.The situation in some snack bars and restaurants are particularly common in some more remote private gas stations are cash only.

Is in need of attention, and some credit cards before the ATM cash withdrawal using the CA function, you need to set a 4-digit Pin to pass through.So, if you are likely to use this function, please punch in the back of the phone to the Bank set up the Pin, so that when you really want to use them to deal.

1.2 Cash Advance limit

Cash Advance and ordinary consumer (purchase) are different.CA credit card limit itself more often than not you credit card shopping facility (credit line) to low, is probably the limit of about one-fifth.For example:

  • Discover credit card limit is $500, CA amount is $100
  • Chase credit card limit is $7500, CA line $1500

Lines lower, because generally you want to default after credit card shopping possibility is relatively small.After you use the CA cash, cash is easy to carry and run.Therefore, the CA line is a method of credit card companies to reduce risk.

2. Cash Advance fees and payments

By CA to get money and shopping is the biggest difference between different.The costs reflected in three points:

  • Cash Advance needs extra-5% fee 2%, General shopping without
  • Cash Advance interest rate (APR) is higher than in the General shopping
  • Calculation of interest on Cash Advance and General shopping different

2.1 Cash Advance fees

When our credit card shopping, you only need to pay the price of the goods and the tax, no additional handling fees.When using CA now, often the percentage of cash payment, the ratio between 2%-5% of the total cash.And not just the cost, some ATM fee itself ($5).For example, if you want to withdraw $ $100 in ATM, your credit card will appear on $100* (1+5%) +$5=$110 CA.And Debit card cash does not require that a percentage of the fee, and some ATM Debit card also eliminates fees for a specific network.

2.2 interest on Cash Advance and repayment

"What time money credit card", we refer to the general consumer as long as you have an interest-free period (Grace Period), are used only on pay before the due date of the Bill will be free of interest.While CA interest different CA interest there is no interest free period, from the day you CA start APR interest at the start of the CA on its own.The CA APR is usually higher than the average purchase APR of a few percent.

So, if you are using a CA feature, the best repayment immediately.Fastest method of repayment is often called the repayment and the counter payments, basically most of the banks cut prior to the time of day you will immediately appear on account of repayment.Only paid off immediately in order to minimize interest.If you are not a one-time CA arrears and must pay at least Minimum Due each month, otherwise, CA APR will likely continue higher.Bankruptcy is a bigger snowball rolling.

3. The best Cash Advance credit card

If you often use a CA, then on the market and the credit card is the best partner of CA?The answer is:

This no annual fee credit cards are for the Cash Advance (CA) are specifically designed, its main features are:

  • Fixed fees per cash $3
  • CA APR 8.75% (other cards are generally above 20%)

If you often get large cash flow, select this card is good.After all, if you pay off the minimum payment every month, the annual interest rate at around 8%, the General was able to afford.

4. Ways to avoid Cash Advance

Despite the presence of a CA God cards, but I believe most people is to try to avoid the higher fees, higher interest Monster.However, sometimes we really need to use cash to do?While others look like normal consumer is it possible to actually Cash Advance spending?Here to talk about ways to avoid CA fees.

4.1 how to non-CA ways to get cash

The easiest way is, of course, has a banking debit card, via debit card cash produced is generally only need to charge ATM fees, and debit card is linked to your checking account.So as long as there's money enough, certainly not saying what the interest.Pay special attention to is: If the linked chequing account enough money, cash withdrawal or consumption may cause over draft, also have higher fees.

In addition to debit cards, credit cards can also obtain cash through another non-CA channels.Discover credit card payment credit cards IT is possible in some businesses, will jump out of a need to take the cash option, select the amount of cash you want to withdraw, you will be able to check out and get cash.After a credit card, optional cash amount is relatively small, probably less than $100.This consumption is included in your normal consumption, that is to say by cashback feature will not accept additional CA fees, interest calculation is in accordance with the General shopping APR calculations.Of course, such cash consumption was not 1% of cash back.Details can be seen

4.2 How to avoid Cash Advance of consumption

Article mentioned at the beginning, CA is not only from credit card ATM cash withdrawal.But also from some of the bank accounts of injected (initial funding) and the purchase of cash equivalents.Typical has the potential to have a CA other "consumer" behaviors are:

  • Open Checking/saving when initial funding
  • Remittance using a credit card, for example, in the West on the Internet using credit card transfers
  • Some prepaid card in the Bank buy Visa gift card

Each of these acts will be identified as CA depends entirely on what is the bank code of the consumption, they are able to avoid as far as possible to avoid, if you want to use, then it is best to find some previous successful experience.If you're afraid of is also the recognized CA, so, you can call the Bank to minimize the amount of CA 0 (or minimum).Even if you have a CA consumer, is greater than the line of CA will automatically decline, there is no CA-related fees and interest.

If you accidentally triggered some consumption of CA, first call the Bank to intercede, said he did not notice that.Good word Bank will give you waive fees of CA, CA debt you have to hurriedly by phone or pay off the counter.

5. Alternative functions of Cash Advance

  • Fund Buxx card when Chase card purchase when it first identified as CA,post.CA down to 0 will not be able to fund.





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Credit card Cash Advance (CA) profile
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