Max Out 0% Promo Credit Card

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kellykline
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Max Out 0% Promo Credit Card

Post by kellykline » Wed Mar 29, 2017 12:15 am

Hi, I wanted to know what your opinion is on this...

I have a $10K credit limit on a cashback card with 0% interest till 2018. I'd like to use it to fund a new bank account I opened. I was thinking I'd max out the $10K (maybe with $100-$200 left in available credit) and wait till 2018 to pay it off. I don't have any need to use my FICO scores at the moment.

My question is - would doing this permanently damage my FICO score? I mean, I know my score will drop, but once I pay it off, I'm expecting my scores to go back up.

I know this is more like a FICO forum question, but figured there's so many smart bogleheads on here that maybe some of you can give your 2 cents.

Thanks!

*3!4!/5!
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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Wed Mar 29, 2017 12:22 am

There's an opportunity cost. You would not be able to get other credit cards with bonuses, which could be worth more than a $10k 1 year 0% loan.

mhalley
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Re: Max Out 0% Promo Credit Card

Post by mhalley » Wed Mar 29, 2017 12:24 am

What is your total credit limit on all your cards? You don't want to go over 30% or it starts to damage your credit. Credit utilization makes up 30% of your score.The damage won't be permanent, late pays etc are much more damaging. I think but am not certain that the score would improve after the balance is paid off, say in 2-3 months.

https://www.nerdwallet.com/blog/finance ... g-winning/
You could try the simulator to see the effects.

https://www.creditkarma.com/tools/credi ... -simulator#
Last edited by mhalley on Wed Mar 29, 2017 12:33 am, edited 1 time in total.

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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Wed Mar 29, 2017 12:31 am

mhalley wrote:What is your total credit limit on all your cards? You don't want to go over 30% or it starts to damage your credit.

https://www.nerdwallet.com/blog/finance ... g-winning/
I believe going over 90% on one card will seriously trash your score (until paid down, and even then maybe a few months after), regardless of overall utilization.

KT785
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Re: Max Out 0% Promo Credit Card

Post by KT785 » Wed Mar 29, 2017 12:34 am

kellykline wrote:I'd like to use it to fund a new bank account I opened.
How do you plan on funding the bank account with the card? Cash advance, convenience checks, etc.?

Be aware that those types of transactions typically have a limit well below the actual credit limit for the card and moreover, 0% promos typically only apply to purchase or balance transfers, not cash advances or similar transactions. You may also be assessed additional fees for such advances on top of interest (since it's unlikely to qualify for the promotional rate).
Last edited by KT785 on Wed Mar 29, 2017 12:42 am, edited 3 times in total.

mhalley
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Re: Max Out 0% Promo Credit Card

Post by mhalley » Wed Mar 29, 2017 12:35 am

I believe you are correct, although the article says "some scoring models" and fico likes to keep their exact models a secret.

mhalley
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Re: Max Out 0% Promo Credit Card

Post by mhalley » Wed Mar 29, 2017 12:42 am

As mentioned above, I don't know if you can get a cash advance at zero percent. Usually the zero percent applies to purchases or transfers. Read your agreement carefully. Most of the zero percent cards I see are stating cash advances at 8% or higher.

kellykline
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Re: Max Out 0% Promo Credit Card

Post by kellykline » Wed Mar 29, 2017 12:57 am

mhalley wrote:What is your total credit limit on all your cards? You don't want to go over 30% or it starts to damage your credit. Credit utilization makes up 30% of your score.The damage won't be permanent, late pays etc are much more damaging. I think but am not certain that the score would improve after the balance is paid off, say in 2-3 months.

https://www.nerdwallet.com/blog/finance ... g-winning/
You could try the simulator to see the effects.

https://www.creditkarma.com/tools/credi ... -simulator#

all my cards about 100K in total... this would probably take 10% of my total CL but over 90% on that one card.

thx!

kellykline
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Re: Max Out 0% Promo Credit Card

Post by kellykline » Wed Mar 29, 2017 12:58 am

KT785 wrote:
kellykline wrote:I'd like to use it to fund a new bank account I opened.
How do you plan on funding the bank account with the card? Cash advance, convenience checks, etc.?

Be aware that those types of transactions typically have a limit well below the actual credit limit for the card and moreover, 0% promos typically only apply to purchase or balance transfers, not cash advances or similar transactions. You may also be assessed additional fees for such advances on top of interest (since it's unlikely to qualify for the promotional rate).
just a regulat charge, not a cash advance.

kellykline
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Re: Max Out 0% Promo Credit Card

Post by kellykline » Wed Mar 29, 2017 12:59 am

mhalley wrote:As mentioned above, I don't know if you can get a cash advance at zero percent. Usually the zero percent applies to purchases or transfers. Read your agreement carefully. Most of the zero percent cards I see are stating cash advances at 8% or higher.
thx, ill need to check that... youre probably right

spammagnet
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Re: Max Out 0% Promo Credit Card

Post by spammagnet » Wed Mar 29, 2017 1:17 am

In days of much higher interest I maxed out some 0%, no-fee cash advances and put it in an online savings account. I set up automatic minimum payments from that account and scheduled payment in full for a couple of weeks before the teaser rate expired. For me, the interest I earned was free money.

*3!4!/5!
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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Wed Mar 29, 2017 2:10 am

Alrighty then, do it and report back. :confused
We need a GP. :happy

Spirit Rider
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Re: Max Out 0% Promo Credit Card

Post by Spirit Rider » Wed Mar 29, 2017 4:27 am

You didn't indicate exactly what the 0% promotion was. If it was 0% on purchases as already indicated. Using that to fund a bank account would almost always be considered a cash advance and not a purchase.

If it was a 0% Balance transfer, almost all existing cards will charge you a 3%, 4%, or even 5% balance transfer fee. There are a small number of select offers for new cards that have 0% offers with no balance transfer fee.

Then there is the fact that the interest rates these days hardly justifies the effort. Gone are the heyday years of 1999 - 2001 when you could purchase 3%+ fixed rate I Bonds with cash back credit cards. Then you could easily rollover to 0% balance transfers with $0 - $75 fee year after year until the financial crisis.

Heck, I was still carrying 0% for life balances on a Citibank card and a Discover card until recently. The almost 6% arbitrage that provided hardly makes the current puny interest rates seem worth the effort. 1% on $10K is a measly $100. At least 6% on $30K was $1,800.

avalpert
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Re: Max Out 0% Promo Credit Card

Post by avalpert » Wed Mar 29, 2017 9:37 am

Back in the day I had large 0% balances transferring them at 0% to new cards every year and it never really hurt my FICO score or kept me from qualifying for the best credit and mortgage rate offers.

At today's interest rates where the 0% for 12 months is basically worth ~.7% in after tax returns it isn't very lucrative. You are better off using a 2% (or 2.62% in my case) cash-back card instead and paying off the $10,000 when the bill comes due. Or use it to hit a few minimum balances on even better sign-on bonuses.

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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Wed Mar 29, 2017 10:18 am

avalpert wrote:Back in the day I had large 0% balances transferring them at 0% to new cards every year and it never really hurt my FICO score or kept me from qualifying for the best credit and mortgage rate offers.
When you say "large balances" do you just mean a large $ amount, or do you mean that the balance was near 100% of credit line for a long time. Do you have more specifics on $ and % amounts, and the specific FICO scoring model that was used, and the source for that score? That could be some very interesting datapoints.

avalpert
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Re: Max Out 0% Promo Credit Card

Post by avalpert » Wed Mar 29, 2017 10:21 am

*3!4!/5! wrote:
avalpert wrote:Back in the day I had large 0% balances transferring them at 0% to new cards every year and it never really hurt my FICO score or kept me from qualifying for the best credit and mortgage rate offers.
When you say "large balances" do you just mean a large $ amount, or do you mean that the balance was near 100% of credit line for a long time. Do you have more specifics on $ and % amounts, and the specific FICO scoring model that was used, and the source for that score? That could be some very interesting datapoints.
I mean both (at the peak I had high five figures in 0% balances maxing out multiple cards). I don't have a historical record of the FICO score itself - but I did monitor it and would have noted any meaningful drops. I also had no problem getting lowest rate mortgages, auto loans and credit cards which to me is the more important indicator because a good FICO score is not an ends in itself.

alaskantraveler
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Re: Max Out 0% Promo Credit Card

Post by alaskantraveler » Wed Mar 29, 2017 10:26 am

There are are often Bank Account promos that allows initial funding with a credit card. Depending on the card, you will not be charged a cash advance fee. Back to your original question, maxing out a credit card will reduce your credit score temporarily. The impact could last for several months after you pay it off. As someone said before. Doing this could effect you ability to get new credit cards in the short term.

I have business credit cards as well, that I frequently get 0% APR offers on, because business credit cards do not show up on your personal credit report you can maintain high balances on these cards without impacting your credit.

livesoft
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Re: Max Out 0% Promo Credit Card

Post by livesoft » Wed Mar 29, 2017 10:28 am

Years ago, I got a 0%-interest, no annual fee, 0% fee on balance transfers credit card and took out the maximum amount. I just made the minimum monthly payments and paid off the balance before the end of the offer. I invested the money in a 5% CD 1-year CD.

My CreditKarma score went down about 60 points.

The credit card company (USAA) made the same offer for another year and I invested in another 5% CD. And then for a third year, a similar offer which I repeated my acceptance and investment.

Then no more offers.

My credit score went back up a few months after that.

So I see no problem with accepting free money.

And if you think "balance transfer" is a big deal when all your other credit cards have no balance, that's not a problem. I transferred $25K to a card that had $0 balance and then had that card send me $25K check.
Last edited by livesoft on Wed Mar 29, 2017 10:30 am, edited 1 time in total.
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*3!4!/5!
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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Wed Mar 29, 2017 10:30 am

livesoft wrote:My CreditKarma score went down about 60 points.
That can happen if you just sneeze. What about FICO?

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Re: Max Out 0% Promo Credit Card

Post by livesoft » Wed Mar 29, 2017 10:34 am

*3!4!/5! wrote:
livesoft wrote:My CreditKarma score went down about 60 points.
That can happen if you just sneeze. What about FICO?
I've never paid to see my FICO score. I have a vague idea what it might be because I did get a score from my mortgage lender when I refinanced many years ago when it was in the 800s. Yes, I extrapolated that the direction and magnitude of changes to a FAKO score would more or less match the direction of changes to a FICO score. I'm unconcerned.
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triceratop
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Re: Max Out 0% Promo Credit Card

Post by triceratop » Wed Mar 29, 2017 10:40 am

livesoft wrote:
*3!4!/5! wrote:
livesoft wrote:My CreditKarma score went down about 60 points.
That can happen if you just sneeze. What about FICO?
I've never paid to see my FICO score. I have a vague idea what it might be because I did get a score from my mortgage lender when I refinanced many years ago when it was in the 800s. Yes, I extrapolated that the direction and magnitude of changes to a FAKO score would more or less match the direction of changes to a FICO score. I'm unconcerned.
One need not pay for a FICO score. The (monthly! I track it in a spreadsheet) FICO8 is complimentary with a BoA or AmEx CC, in my experience..
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Re: Max Out 0% Promo Credit Card

Post by orca91 » Wed Mar 29, 2017 10:40 am

I'm amazed at the amount of effort some folks put into finding and working these deals. It's also impressive in a way, and good for y'all. But, even though it's probably not all that much "work" it isn't worth my time. I tip my cap to you. :beer

livesoft
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Re: Max Out 0% Promo Credit Card

Post by livesoft » Wed Mar 29, 2017 10:45 am

triceratop wrote:One need not pay for a FICO score. The (monthly! I track it in a spreadsheet) FICO8 is complimentary with a BoA or AmEx CC, in my experience..
In those days, I don't think FICO8 did existed and certainly credit card companies did not hand them out like they do nowadays, but no matter as all the different scores vary within the same general range.
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fantasytensai
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Re: Max Out 0% Promo Credit Card

Post by fantasytensai » Wed Mar 29, 2017 12:02 pm

kellykline wrote:Hi, I wanted to know what your opinion is on this...

I have a $10K credit limit on a cashback card with 0% interest till 2018. I'd like to use it to fund a new bank account I opened. I was thinking I'd max out the $10K (maybe with $100-$200 left in available credit) and wait till 2018 to pay it off. I don't have any need to use my FICO scores at the moment.

My question is - would doing this permanently damage my FICO score? I mean, I know my score will drop, but once I pay it off, I'm expecting my scores to go back up.

I know this is more like a FICO forum question, but figured there's so many smart bogleheads on here that maybe some of you can give your 2 cents.

Thanks!
I am not aware of any bank that allows funding of 10k from a credit card. The most I have seen is a few hundred, and that is considered generous. Which bank is letting you do this?

Jags4186
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Re: Max Out 0% Promo Credit Card

Post by Jags4186 » Wed Mar 29, 2017 12:06 pm

There are plenty of banks that will let you do this (I can think of 1 off the top of my head that will let you do $5k) but it's really not worth it.

OP I would definitely not do this. Your card issuers do routinely pull you credit and if they see it drop significantly they could increase your interest rate (shouldn't matter), lower your credit line, or even cancel your credit card.

If you are simply looking for an extra $100 there are plenty of checking account bonuses that you can get that will pay you more than $100 and have 0 impact on your credit score and require practically no upfront money.

fantasytensai
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Re: Max Out 0% Promo Credit Card

Post by fantasytensai » Wed Mar 29, 2017 12:35 pm

Jags4186 wrote:There are plenty of banks that will let you do this (I can think of 1 off the top of my head that will let you do $5k) but it's really not worth it.

OP I would definitely not do this. Your card issuers do routinely pull you credit and if they see it drop significantly they could increase your interest rate (shouldn't matter), lower your credit line, or even cancel your credit card.

If you are simply looking for an extra $100 there are plenty of checking account bonuses that you can get that will pay you more than $100 and have 0 impact on your credit score and require practically no upfront money.
Can you please PM me this info? I have several credit card spending bonuses to meet and this will be tremendously helpful. Thanks!

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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Wed Mar 29, 2017 3:15 pm

livesoft wrote:
*3!4!/5! wrote:
livesoft wrote:Years ago, I got a 0%-interest, no annual fee, 0% fee on balance transfers credit card and took out the maximum amount. I just made the minimum monthly payments and paid off the balance before the end of the offer. I invested the money in a 5% CD 1-year CD.
My CreditKarma score went down about 60 points.
That can happen if you just sneeze. What about FICO?
I've never paid to see my FICO score. I have a vague idea what it might be because I did get a score from my mortgage lender when I refinanced many years ago when it was in the 800s. Yes, I extrapolated that the direction and magnitude of changes to a FAKO score would more or less match the direction of changes to a FICO score. I'm unconcerned.
livesoft wrote:... all the different scores vary within the same general range.
CreditKarma's timeline barely overlaps with the time of these higher interest CDs. Are you sure you recall correctly.

Also, the VantageScore 3.0 that CreditKarma uses can often drop 50 or 100 points or more when FICO scores just drop a few points, so it's actually a pretty poor indicator of what your FICOs are doing.

Jags4186
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Re: Max Out 0% Promo Credit Card

Post by Jags4186 » Wed Mar 29, 2017 3:20 pm

fantasytensai wrote:
Jags4186 wrote:There are plenty of banks that will let you do this (I can think of 1 off the top of my head that will let you do $5k) but it's really not worth it.

OP I would definitely not do this. Your card issuers do routinely pull you credit and if they see it drop significantly they could increase your interest rate (shouldn't matter), lower your credit line, or even cancel your credit card.

If you are simply looking for an extra $100 there are plenty of checking account bonuses that you can get that will pay you more than $100 and have 0 impact on your credit score and require practically no upfront money.
Can you please PM me this info? I have several credit card spending bonuses to meet and this will be tremendously helpful. Thanks!
doctorofcredit.com has all of the info you could possibly need on this. good luck!

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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Wed Mar 29, 2017 3:25 pm

fantasytensai wrote:
Jags4186 wrote:There are plenty of banks that will let you do this (I can think of 1 off the top of my head that will let you do $5k) but it's really not worth it.

OP I would definitely not do this. Your card issuers do routinely pull you credit and if they see it drop significantly they could increase your interest rate (shouldn't matter), lower your credit line, or even cancel your credit card.

If you are simply looking for an extra $100 there are plenty of checking account bonuses that you can get that will pay you more than $100 and have 0 impact on your credit score and require practically no upfront money.
Can you please PM me this info? I have several credit card spending bonuses to meet and this will be tremendously helpful. Thanks!
I've never done this. Even if the bank1 with the checking/savings account let's you fund the account with a credit card (presumably eating the loss from exchange fees - not sure why they'd do this) what's to stop the bank2 with the credit card from coding it as a cash advance and hitting you with huge fees/interest. Or you could get fraud alerts or get shut down.

gclancer
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Re: Max Out 0% Promo Credit Card

Post by gclancer » Wed Mar 29, 2017 3:46 pm

*3!4!/5! wrote:I believe going over 90% on one card will seriously trash your score (until paid down, and even then maybe a few months after), regardless of overall utilization.
Credit utilization is caculated as of the date the credit score is pulled (using the last reported balance which is reported monthly after your statement closes). Thus, if I used 90% of my credit last month, paid it off before the statement closed this month, and my credit was pulled after my $0 balance was reported the 90% utilization from the prior month would have no impact.

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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Wed Mar 29, 2017 3:50 pm

gclancer wrote:
*3!4!/5! wrote:I believe going over 90% on one card will seriously trash your score (until paid down, and even then maybe a few months after), regardless of overall utilization.
Credit utilization is caculated as of the date the credit score is pulled (using the last reported balance which is reported monthly after your statement closes). Thus, if I used 90% of my credit last month, paid it off before the statement closed this month, and my credit was pulled after my $0 balance was reported the 90% utilization from the prior month would have no impact.
That scenario obviously does not apply here. OP is taking about having a card maxed out for a full year.

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Re: Max Out 0% Promo Credit Card

Post by bloom2708 » Wed Mar 29, 2017 3:59 pm

I think you need to re-prioritize and figure out what your FICO score is. It is your debt score.

You can't pull out $10k of cash advances on a 0% credit card. There is likely a max (say $5k and cash advances are not 0%). Read the fine print.

The idea is just not good. Everything you will ever read, hear, watch is trying to separate you from your money. Your current money and your future money. A 0% card with a $10k balance is there to encourage you to spend $10k of the money you haven't earned yet.

This might be a good opportunity to read "The Total Money Makeover" by Dave Ramsey. Buy it, read it. What you don't know you don't know is the danger zone in life. Good luck!
"We are here not to please but to provoke thoughtfulness" Unknown Boglehead

gclancer
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Re: Max Out 0% Promo Credit Card

Post by gclancer » Wed Mar 29, 2017 4:43 pm

*3!4!/5! wrote:That scenario obviously does not apply here. OP is taking about having a card maxed out for a full year.
OP was asking if his score will be perminently impacted. It won't be because credit utilization as no memory. As soon as he pays it off and the $0 balance is reported, his score will bounce back to normal.

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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Wed Mar 29, 2017 5:26 pm

gclancer wrote:
*3!4!/5! wrote:
gclancer wrote:
*3!4!/5! wrote:I believe going over 90% on one card will seriously trash your score (until paid down, and even then maybe a few months after), regardless of overall utilization.
Credit utilization is caculated as of the date the credit score is pulled (using the last reported balance which is reported monthly after your statement closes). Thus, if I used 90% of my credit last month, paid it off before the statement closed this month, and my credit was pulled after my $0 balance was reported the 90% utilization from the prior month would have no impact.
That scenario obviously does not apply here. OP is taking about having a card maxed out for a full year.
OP was asking if his score will be perminently impacted. It won't be because credit utilization as no memory. As soon as he pays it off and the $0 balance is reported, his score will bounce back to normal.
Nevertheless your scenario is totally different to the OP's. In any case, when you say "credit utilization [h]as no memory", that may apply, and the OP's score may bounce back immediately, but the "no memory" thing is an over-simplification. It ignores the possible effects of "Segmentation", the upshot of which is that it may take a few months to recover.

Now when I said "I believe going over 90% on one card will seriously trash your score (until paid down, and even then maybe a few months after), regardless of overall utilization." perhaps I should say "may trash (depending on other factors)"

Jags4186
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Re: Max Out 0% Promo Credit Card

Post by Jags4186 » Wed Mar 29, 2017 7:12 pm

Gentlemen/Ladies:

Yes this is a "cash advance". But just because you are generating cash from your credit card doesn't mean it is coded as a cash advance. And what the charge codes as is all that matters.

You need to read up about the specific lender and also the specific card to determine what will be counted as a cash advance. It will also matter how you process the transaction.

In branch transactions will almost always certainly count as cash advances.
Online initial account funding is a YMMV.

For example:

Citi Double Cash usually codes as a purchase with these types of transactions
Citi AA cards usually code as cash advance

Most Chase cards will code as cash advance

BoA cards will usually code as purchase

The best resource for this type of information is doctorofcredit.com who goes over all of this stuff in granular detail.

One thing to keep in mind, all of this stuff is "skirting" the rules. Just because something works today doesn't mean that it won't be "corrected" tomorrow. That's why I don't believe doing this is a smart idea. The OPs card of choice may post today as a purchase but when he goes actually fund the account say a week from now it might have been changed to a cash advance.

kellykline
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Re: Max Out 0% Promo Credit Card

Post by kellykline » Sat Apr 01, 2017 3:30 am

Jags4186 wrote:Gentlemen/Ladies:

Yes this is a "cash advance". But just because you are generating cash from your credit card doesn't mean it is coded as a cash advance. And what the charge codes as is all that matters.

You need to read up about the specific lender and also the specific card to determine what will be counted as a cash advance. It will also matter how you process the transaction.

In branch transactions will almost always certainly count as cash advances.
Online initial account funding is a YMMV.

For example:

Citi Double Cash usually codes as a purchase with these types of transactions
Citi AA cards usually code as cash advance

Most Chase cards will code as cash advance

BoA cards will usually code as purchase

The best resource for this type of information is doctorofcredit.com who goes over all of this stuff in granular detail.

One thing to keep in mind, all of this stuff is "skirting" the rules. Just because something works today doesn't mean that it won't be "corrected" tomorrow. That's why I don't believe doing this is a smart idea. The OPs card of choice may post today as a purchase but when he goes actually fund the account say a week from now it might have been changed to a cash advance.
Thanks for all the advice guys!
It came up as a financial charge, not a cash advance. It's a 2% card so I get $200 in cashback right away. Now the question is whether to keep the max limit for the whole year and put the money in a CD that yields another 2%.

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Re: Max Out 0% Promo Credit Card

Post by *3!4!/5! » Sat Apr 01, 2017 12:25 pm

Do it, and report back!

drg02b
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Re: Max Out 0% Promo Credit Card

Post by drg02b » Sat Apr 01, 2017 1:21 pm

Recently, I maxed out two news cards for a ~18 month 0% loan for renovating a vacant house. About 20K and total credit utilization was around around 40%. Score dipped from upper 700's to mid 600's. Recently paid those off and score is almost back where I started (minus new mortgage and shorter average history thanks to the new cards.)

I wouldn't bother for $100 worth of interest. But getting a mortgage with a construction loan was way too much of a hassle (GC's didn't want such a small job for the paperwork), and the credit cards as a short-term loan made things much simpler. (Side note -- I had the assets to cover the project, but the credit cards gave me some peace of mind with keeping enough cash on hand).

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Re: Max Out 0% Promo Credit Card

Post by sharpjm » Sun Apr 02, 2017 5:48 am

fantasytensai wrote:
Jags4186 wrote:There are plenty of banks that will let you do this (I can think of 1 off the top of my head that will let you do $5k) but it's really not worth it.

OP I would definitely not do this. Your card issuers do routinely pull you credit and if they see it drop significantly they could increase your interest rate (shouldn't matter), lower your credit line, or even cancel your credit card.

If you are simply looking for an extra $100 there are plenty of checking account bonuses that you can get that will pay you more than $100 and have 0 impact on your credit score and require practically no upfront money.
Can you please PM me this info? I have several credit card spending bonuses to meet and this will be tremendously helpful. Thanks!
http://www.doctorofcredit.com/does-fund ... h-advance/

harvestbook
Posts: 330
Joined: Sat Mar 18, 2017 7:12 pm

Re: Max Out 0% Promo Credit Card

Post by harvestbook » Sun Apr 02, 2017 8:29 am

The List of Things That Can Go Wrong seems hardly worth $100. Unless you have a specific short-term need with a likely positive outcome and a fallback plan like drg02b, you'll probably end up spending several hours of work dealing with this, too. And that's if everything goes right.
I'm not smart enough to know, and I can't afford to guess.

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