Another credit card question

[nboy22]

Let's say I'm in a situation where I want to pull out a $100 off my credit card to use for a trade or someone who cannot take credit cards (such as buying things off of a friend or craigslist)

Now if I was to go over to Wal-mart and purchase $20-$60 of groceries, pay with my credit card, and pull out an extra $100 through their "would you like any cash-back?" withdrawal on the automatic checkout machines, would that count as my purchase? or would that count as a cash advance?

I'd just like to know for future references, just another situation I want to clear myself up on before I go and do it if I need to

Thanks for any help!

 

[James Bond]

I didn't know you could do Cash Back with credit cards..

 

[FoBoT]

you can only do that when you select debit, not credit

if you want cash, you do a cash advance from an ATM

 

[Deeko]

I've never seen a teller/self-checkout that asked about cash back for a credit card, only debit cards. Good question.

 

[nboy22]

Originally posted by: FoBoT
you can only do that when you select debit, not credit

if you want cash, you do a cash advance from an ATM

Oh ok. thanks guys, I've never used the credit card yet, just want to get everything cleared up before I do anything. That was fast.

 

[techgamer]

I would not recommend using cash advnace on a CC unless you absolutely have to or dont care about paying fees

 

[nboy22]

Originally posted by: techgamer
I would not recommend using cash advnace on a CC unless you absolutely have to or dont care about paying fees

That's what I understand.. I knew about the Cash advance part and how you're not really supposed to use it because it looks bad.

I was just more thinking about how I use my debit card for almost every purchase I ever make. I'm always prompted if I want to take cash out or not in increments 20, 40, 60, 80, or other.

I was mainly wondering if it was the same way on a credit card, and if it was the same way, how would it look from the creditor's point of view. As in if it were possible, would it look like a cash advance or would it look like one big purchase.

 

[Auric]

Wow, that wigged me out for a mo' -the thought that pushing high interest debt had been taken up a notch. Glad to hear it isn't real (yet).

 

[Boztech]

It doesn't "look bad", it just has absolutely ridiculous rates & fees in almost all cases.

Cash advances on a CC should be an absolute last resort kind of thing. As far as I'm concerned, the use of credit cards AT ALL should be an absolute last resort kind of thing.

 

[kranky]

Actually, Discover does let you get cash back on purchases at certain stores, just like with debit cards. And they are not considered cash advances. The Discover limit is $200 per 24-hour period and $4000 per month, and most stores impose a limit of $50 per transaction.

Details here.

 

[nod218]

Do not get a cash advance on a Credit Card....I accidentally did it once. I was tired and put my credit card in the ATM instead of my check card, and since i have the same pin number for both I withdrew 20 dollars as a cash advance. The next day I tried paying for it, they said I had to pay off the entire balance on my credit card (which included the 20 dollar cash advance), so I did. What the CSR didn't tell me was that, I can't use the credit card for a week cause any new charges that I made on the credit card, the payment I made would be applied to the new charges because the cash advance had a higher APR then the purchases. So I continued to incur interest on the 20 dollars. In the end it cost me an extra 18 dollars to take out 20 dollars, got hit with $2 ATM fees, $15 Cash Advance Fee, and $1 dollar interest.

 

[alkemyst]

Originally posted by: nboy22

Originally posted by: techgamer
I would not recommend using cash advnace on a CC unless you absolutely have to or dont care about paying fees

That's what I understand.. I knew about the Cash advance part and how you're not really supposed to use it because it looks bad.

I was just more thinking about how I use my debit card for almost every purchase I ever make. I'm always prompted if I want to take cash out or not in increments 20, 40, 60, 80, or other.

I was mainly wondering if it was the same way on a credit card, and if it was the same way, how would it look from the creditor's point of view. As in if it were possible, would it look like a cash advance or would it look like one big purchase.

cash back with a CC is a cash advance...some let you do it with a pin number.

Usually it's a deal breaker on using it for cash expect for emergencies.

If you are down to where you don't have $100 and have to resort to this, I'd probably skip buying whatever shiny trinket you are looking at.