Is it possible to have a $50000 credit card cash advance limit?

Question by : Is it possible to have a 000 credit card cash advance limit?
I have been trying to learn about credit card cash advances, as I’m curious to learn how they work. How do credit card companies determine this limit? How high can this limit be? Thanks guys

Best answer:

Answer by Barnesy

Neither you or the lender would want a cash limit this high. If you need this level of cash then you would take out a personal loan. The interest rate would be less and the entire arrangement would be more manageable for all parties.

Typically, a credit card issuer does not like to see large cash-advances against a credit card. They often signify that a borrower is in some kind of financial stress.

The most sophisticated credit card issuers can see a cash-advance inside (or nearby) a casino and make rapid status changes on the account. e.g. a customer that has maxed out their daily card limit on debit card cash and then proceeds to run credit card cash-advances is probably not going to be the best credit risk.

This whole area is extremely complex. Banks hire large teams of statistical analysts to perfect lending models around cash advances. They then spend millions on systems that can act upon the models in real-time.

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