Q&A: What is Cash Advance Interest on Credit Card?
Question by : What is Cash Advance Interest on Credit Card?
Just noticed I’m paying Cash advance interest on my credit card at 16.99%.
What am I paying for exactly?
Would I be able to call my bank and get that off my credit card or is it something I’m stuck paying because I have a credit card?? thanks
I don’t use my card anymore, just trying to pay it off quickly.
Best answer:
Answer by Angry Bird
Cash Advance interest is always high than regular interest.
Plus there are flat fees, and no grace period.
Your only option is not to use the card until you can pay all this off.
Once you do this, use your card to build up good credit.
Use it for something you need like gas, and pay the amount in full each month.
This avoids interest and develops amazing credit (with time).
Never dare carry balances again. It can cause serious damage to credit scores.
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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.
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Q&A: What happens if a cash advance loan goes unpaid?
Question by pretty_girl_tc: What happens if a cash advance loan goes unpaid?
I have a cash advance loan out and don’t have the cash to pay it back. If the post dated check goes through I will be in major debt. I wanted to put a stop payment on my check. What action will the lenders take?
Best answer:
Answer by Tim S
What is predatory? A short term payday loan that charges you a fee of $ 15 to $ 25 per $ 100 loaned for two weeks or a $ 35 NSF and daily overdrafts that can cause more NSF fees from a bank?
You needed a loan that apparently you were were unable to get from your bank and now you want to forgo paying it back by placing a stop payment on the check. You received a service for a fee and stopping the check for false reasons is fraud.
Depending on who you received your loan with, they could cause you a lot of grief. If they are reputable then you should call them to work out a payment plan (not a rollover option). No lending institution wants a loan to default.
Good luck
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Categories: Loan Questions Tags: Advance, cash, loan, unpaid
If I pay my car loan repayment in advance, will my credit score increase?
Question by Katsutoshi: If I pay my car loan repayment in advance, will my credit score increase?
I’m thinking of buying another car.
1) Should I pay current loan in advance, then get another car after loan is completed.
2) Should I keep to pay current loan on schedule, then get another car before loan is completed.
I guess I can increase my credit score if I pay it in advance. However I also hear that paying in advance can decrease the score. Which is the true?
Best answer:
Answer by tudorjason
No, your score won’t increase if you pay off the car loan early. It isn’t about paying off debt (for secured installment debt anyway), it’s about payment history and not spending too much credit.
You should really only obtain debt if you need it. Do you want to replace the one you just paid in full or do want a second car? If it’s the former and you have money to pay off the loan entirely, I would suggest using the money for other things. Pay off some other debt, improve your education, invest it in an ROTH IRA, or save it because you can never have too much savings.
Because of all this, I think you should just stay on schedule.
And it’s sort of, maybe, true about paying off in advance will decrease your score. All things being equal as they are now on your credit report, if you paid off your car loan in advance, the payment history will fall off your report sooner than it has to and your score will drop because it will lose that history. But by the time your car loan does fall off, your accounts will have aged more replacing that lost history, so your score probably wouldn’t drop.
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Can I notify the credit report agencies in advance of something I want to dispute showing on my report?
Question by Valentine_21477: Can I notify the credit report agencies in advance of something I want to dispute showing on my report?
I stopped payment on check for services not done and the person took it to a cash checking store and got it cashed anyways. My bank said I had the right to stop payment and it’s the check cashing store problem for cashing the check without verifying the check was still valid. The check cashing store said they were going to take me to small claims court for the money. People have been telling me they might also notify the credit reporting agencies. Can I notify the credit report agencies even though it’s not on my report yet? Do I need to notify all three? Thanks in advance!
Best answer:
Answer by OC1999
You can not dispute what is not on your report, so right now that would just be a waste of time. If it does show up on your report you then need to dispute it with the credit reporting agencies. However, it will probably come up as verified by the Check Cashing place. At that time you need to take them to court to have it removed.
Let the Check Cashing store take you to small claims court. They will loose, as your bank said it was their mistake for cashing the check. If they want their money back they need to go after the person who cashed the check.
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What is your opinion on cash advances? & is personal cash advance a trustworthy site?
Question by Me: What is your opinion on cash advances? & is personal cash advance a trustworthy site?
I’m looking to take out a cash advancement here in a few weeks if I get the new job I’m hoping for which would mean I would have to relocate and I don’t have the money for that right now. I’m looking to take out a cash advance loan until I get my first check at the new job. What have your experiences with these types of services been, and do you think it’s a good idea? Thanks.
Best answer:
Answer by NaturesDoctor
No, no, no, no – If you have a credit card you may be able to get a cash advance, you say if you get the new job. It is easier after you have the new job to take out the advance.
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Categories: Loan Questions Tags: Advance, advances, cash, opinion, Personal, site, trustworthy
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