Re: Buy money orders with a credit card?
- From: "catalpa" <catalpa@xxxxxxxxxxxx>
- Date: Thu, 14 Feb 2008 06:26:46 GMT
"Jonathan Kamens" <jik@xxxxxxxxxxxxxxxxxxxxxx> wrote in message
news:fp0gk6$ne7$1@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
"John A. Weeks III" <john@xxxxxxxxxxxxx> writes:
Go to your bank. They will let you do a credit card advance.
Only if the credit card issuer allows it. Some credit-card
accounts don't allow cash advances at all; others have a
limit on how much of the credit limit may be withdrawn as a
cash advance.
Most will do it without a charge if you are a customer.
... or you can call the toll-free number on the back of your
credit card and they'll do a cash advance directly into your
bank account.
... or you can browse to the online account management Web
site for the card and do the cash advance there directly into
your bank account.
... or you can go to just about any ATM, assuming that you've
had the foresight to assign a PIN to your credit-card
account, and do the cash advance there.
... or you can use one of the cash-advance checks that the
credit-card issuer has probably sent you recently if indeed
you're allowed to make cash advances against the card.
... or you can call the credit-card issuer and ask them to
send you a batch of cash-advance checks.
Note
that the credit card company might charge you a small fee.
A small fee?! That's a good one. I suppose if you've got an
account in very good standing you might be lucky enough to be
able to do a cash advance for a 1% fee, but most of the time
the fee is closer to 5%, and the interest rate on the cash
advance is significantly higher than the rate for purchases,
and when you send in payments after doing the cash advance,
they'll apply your payments to the balances with the lower
interest rate and save the high-rate cash advance for last.
Cash advances are not cheap.
Cash advances are not cheap with most credit cards, but if you have the
right credit card they can be quite reasonable. My credit union issued
credit card has a zero fee for cash advances and charges the same interest
rate for cash advances as for purchases (fixed rate 9.9 % APR).
.
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