Can a credit card company charge me a cash advance finance charge?
If I have never taken out a cash advance?
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Posted in cash advance payday loan - March 7th, 2010.
Tags: advance, card, cash, Cash Advance, charge, company, Credit, finance
8 de March, 2010 at 12:14 am
Did you use one of those convience checks? Or did you do a balance transfer? These also have cash advance/transfer fees.
If you’ve only use the card for purchases, call them and ask why you are being charged for the cash advance.
8 de March, 2010 at 12:38 am
Read your account disclosure. Most likely the answer is yes, IF you have anything that can possibly converted into cash, like poker chips (online or not), lottery tickets, savings bonds, etc.
It’s also possible that your credit card may be backing up your checking account for overdraft protection, which can cause the same, or that you’ve used some “promotional” checks that may have been sent to you, which also often carries with it cash terms.
Also, if you have balances under cash and balances that are purchases, cash will ALWAYS get paid last, assuring that they get the most amount of money out of you. You cannot choose where your payment gets allocated to (cash or purchases).
8 de March, 2010 at 1:34 am
Only when you use it..
8 de March, 2010 at 2:09 am
To answer your question literally, No.
However, it looks like you have done some transaction that the credit card company defines as a cash advance.
Everything the credit card company does is spelled out in writing and is provided to you by law. However, the disclosure is in small print and not easy to read.
Things that may be/are counted as a cash advance-
ATM withdrawals, balance transfers, convenience checks, gaming chips, lottery tickets, deposits to offshore sportsbooks
8 de March, 2010 at 3:06 am
Those blood suckers charge for everything.
8 de March, 2010 at 3:53 am
You can get cash through an ATM, cash back merchant feature or through a cheque written on your credit card, they are all considered cash advance features.
8 de March, 2010 at 4:41 am
They have sneaky ways of charging this fee. If you get cash back from a merchant as part of your purchase transaction, you might incur that fee, besides actual cash advances and convenience checks. Your fine print will also outline types of transactions that incur this fee.