If I make a cash advance with my credit card and pay it off on the same day, will I still get charged interest?
Question by : If I make a cash advance with my credit card and pay it off on the same day, will I still get charged interest?
I bought something from a store and signed up to their 6 months zero interest credit. I need to return the item to the store but they said I can’t return it until I pay off the balance. I can’t use my Visa to pay it because you can’t use credit to pay credit, so would getting a cash advance be a good idea for this? When I pay off the balance with the stores credit, they said I’ll be able to return the item.
Best answer:
Answer by Ginger
You will be charged very little interest for the cash advance if paid off quickly but the ca tran fee can be huge, like 3%. I don’t know why they want you to pay it off first and then get credit for the return! I just hate those 6 month and 12 month zero offers that bite you in the end, or in your case the beginning.
Are you not going through with a substitute? This requirement to pay for it and then get a credit makes absolutely no sense to me.
Give your answer to this question below!
You could probably do a balance transfer that would be less expensive than taking a cash advance. Call whoever your Visa is from & ask them about a balance transfer.
I don’t understand this nonsense from the store though. If you are returning it, they should credit the item to THAT credit card. Is it a chain store? Try talking to a manager at a different store if possible. That truly sounds ridiculous. Unless they’re just going to make you get stuck with store credit as opposed to returning your money.
Good luck.