cash advance-well kinda

[Matt_E]

most companies still consider it a cash advance though - and subject to different terms than a regular "purchase"

Granted, it's been years since I've done it personally, but it used to work without trouble.

My b-i-l recently did it with a Citicard.

Paypal will not work because it would be purchase, not a balance transfer.

If you figure it out let me know so I can get a 0% interest card and max it out into a High yield savings account, and then pay it back when the 0% offer runs up And keep what I make on interest. Just a idea

That idea is about seven years old.

 

[2006superjet]

lol

the way you said that makes me think "if that worked eveyone would do it and why invest in anything else risky" the only part that would ding it is that the credit card wouldnt work for paypal payments. "i have 2 accounts and would pay myself that way" paypal charges 1.9% to accept payments so ya the only thing you would loose is 1.9% off the bat and if you can make more than 1.9% lets say if you transfer 100 they take 2$ you can easily earn 5% apr on that 98$ in a year. so you make 2.somthing a year $ or borrow money for 1.9% a year. the only thing is that i am sure there are purchase limits and paypal limits.

 

[2006superjet]

Paypal will not work because it would be purchase, not a balance transfer.

my cc apr is 7.25apr fixed and one at 12.5apr purchase to will it work paypal. and its cheaper than cash advance and loan

 

[Matt_E]

Try it out.

 

[2006superjet]

be nice to

to know if anyone has done this paypal thing. whats the sending limit or premier withdraw limit

 

[Matt_E]

Read Paypal's terms & user agreement. It'll tell ya.

What makes you think Paypal takes only 1.9%? Far as I know, it's 3-5%.

 

[2006superjet]

thanks

says it on their site

Withdraw Funds
Free for bank accounts in the U.S

Receive payments funded by Credit Card, Debit Card or Buyer Credit
1.9% to 2.9% + $0.30 USD

ok think i have all the info i need thanks guys may save a few paychecks insted. and use this as a last resort.

 

[Matt_E]

Count on PP charging the max.

 

[2006superjet]

anyone

need some diamonds i have a cc if you have cash... lol hmm what can i buy with a cc and sell cash for about the same price.. cant do gold.
but really im not in a big rush just maybe have my eye on a boat. but its still cold outside no rush..

 

[2006superjet]

hmm

gift cards.

http://www.giftcardbuyback.com buys your gift card at 80% its value and sells it to the store at 90% value what a joke...

no really anyone thinking that new 4k tv is going to be nice for the big game,,

love it ok im done....for now

 

[RoyalFlush@PCB]

You're trying to play a shell game,

I'll be using that phrase in the near future with my wife thanks to you, Darin. :laugh2:

 

[2006superjet]

ok

so im still waiting on my approval from a few days ago i have been wanting a card with super low apr the current one i have i got it down to 12.5 and cash advance is 18%

the new one will hopfully gain me
Annual Percentage Rates for Purchases and Balance Transfers 7.25%
Penalty Rate: 15.25%*
Other APR's
Cash Advance: 11.25%
Convenience Check: 11.25%
Penalty Rate: 15.25%*
Grace Period for Re-Payment of the Balance for Purchases 25 Days from the Cycle Closing Date
Method of Computing the Balance Used in Calculating Finance Charges for Purchases Average Daily Balance Method (Including New Purchases)
Annual Membership Fee None
Transaction Fee for Purchases None
Transaction Fee for Cash Advances 3.00% of the amount, but not less than $4.00 nor more than $50.00
Transaction Fee for Convenience Checks 3.00% of the amount, but not less than $4.00 nor more than $50.00
Transaction Fee for Balance Transfers None
Late Payment Fee $29.00
Over-the-Credit-Limit Fee $29.00

so the cash advance is 3% plus the 11.5 rate a year so it would be cheaper than all loans and maybe most car loans payying by credit card or at least up to limit and always approved.

so getting 4,000$ if they will allow that much cash advance then is would cost 50$ plus 450 a year in intrest