If I have never taken out a cash purchase acomplia advance?
Can A Credit Card Company Charge Me A Cash Advance Finance Charge?
8 Responses to “Can A Credit Card Company Charge Me A Cash Advance Finance Charge?”
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Fast Cash Advance
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Those blood suckers charge for everything.
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
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).
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.
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.
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.
A lot of people here say that the best thing to do is to just ask a friend for some cash. About a dozen choices here: http://loan.dealsthisway.com Good luck.
Only when you use it..