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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Is a loss from a personal loan the same tax category as a loss from stock investments?
Question by Jan R: Is a loss from a personal loan the same tax category as a loss from stock investments?
I loaned a friend some money several years ago to help start a business, and the business failed and I was not repaid for the loan. I also, the same year, had losses from other investments (in the stock market). My understanding is that I can only deduct $ 3000 in investment losses for that year. Is the personal loan in the same category as the other investments — in other words, does it count as part of the $ 3000 limit? Or is there a way I can claim that loss separately? Thanks!
Best answer:
Answer by v b
You cannot claim the loss separately.
You must prove you had a non-business bad debt (actual loan agreement, not some iffy thing as in if he made money, he’d pay you back; show you tried to get repaid; why it’s worthless, etc).
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Categories: Loan Questions Tags: category, from, investments, loan, loss, Personal, Same, Stock
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