Does anyone know if Cap 1 charges any fees for a cash advance. They are reporting my CL a few hundred lower than what it is and I was looking to cash advance 450 dollars to get it up to the credit limit and then send the money in on the next statement. Any advice. Thanks. I just don't want to get hit with huge fees for doing it. Thanks.
Be sure to leave enough for your finance charges at the end of the month. If you are close to your CL the finance charge may put your balance over your credit line. Then the fun begins, over credit fee etc etc.
I read in previous posts that taking a cash advance lowers your internal score with Capital One. It makes you look like you are struggling financially. In my opinion cash advances should only be taken in an emergency.
Kozman, Purchasing something and then returning it would be better than taking a cash advance. Just remember not to go over your limit.
I'll go get a nice camera for 400 bucks and then take it back after it posts. Thanks for the help guys.
that's exactly what you do. I would be careful on electronics though. Sometimes they have shortened return periods or exchange only policies. I would definitely do it several days before the statement cycle closes and then return it the day after it closes If you can't change the system... at least play it better than the rest
I checked with Circuit City and they have a 30 day no questions asked as long as it isn't computer related. How do you know when the cycle closes?? My due by date for a payment is July 9th. Does that matter?
I have heard that you can do it through C2it and it is recorded as "purchases". Of course there are fees with them.
Kozman, I am glad you have decided not to take a cash advance in this situation. It should say on your online account and paper statement when your billing cycle ends.
