Author Topic: Lowering cc cash advance limit??  (Read 1638 times)

Pizzabrewer

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Lowering cc cash advance limit??
« on: July 15, 2018, 11:04:39 AM »
I've read a few times (perhaps here, perhaps on DofC, not sure) that it's a good idea to lower the cash advance limit on your cc to $0.  This is useful when opening new bank accounts that allow initial funding by cc to ensure that it codes as a purchase and not as a cash advance.

I went to my online Chase account and although I see where the cash advance limit is listed ($1040 in this instance), there is no way to request lowering it.  So I call customer service and the CSR was flummoxed by my request.  No, it can't be done, then wait while I check, yes it can be lowered but only down to $100, then no it can only be lowered to $1000 (from the current $1040).

So WTF?  From previous mentions I didn't realize this was such a hassle to lower.  I'm wondering now if I've set off any red flags. 

Any advice?  TIA

sokoloff

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Re: Lowering cc cash advance limit??
« Reply #1 on: July 15, 2018, 03:55:54 PM »
In 30 years of having and using a credit card in many different countries, I’ve never run into the problem that this solution is designed to address. Never heard of it until just now either. I wouldn’t sweat it.

Orin!

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Re: Lowering cc cash advance limit??
« Reply #2 on: July 16, 2018, 12:55:48 AM »
Hang Up And Call Again

HUCA

You probably got an incompetent customer service rep.

One other thing is on doc of credit datapoints there are times chase shows as cash advance when pending after funding a bank account opening but then posts as a purchase afterwards. Only saw that with Chase. So make your call. Worse case it posts as cash advance and you pay it off a day later with the bank account you just funded and you pay small $15 fee or whatever.

ThatGuy

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Re: Lowering cc cash advance limit??
« Reply #3 on: July 16, 2018, 11:43:01 AM »
I've lowered the cash advance limit to $0 on a few of my credit cards for the same reason you mention.  I can't remember if I've ever done it on a Chase account but I did get a surprised reaction from one csr when I requested it.  I would try again.  I would probably go the email route.

bacchi

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Re: Lowering cc cash advance limit??
« Reply #4 on: July 16, 2018, 11:56:59 AM »
HUCA

I've heard the same $100 minimum on Chase cards; that's where my cards sit.

 

Wow, a phone plan for fifteen bucks!