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    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #1

    Feb 2, 2019, 02:38 PM
    Credit Card Cash Advance
    A member took a cash advance of $1,000 at $10.00 or 3%
    Whichever is greater $30.00 interest. He wants to pay it back in two months. Will that be another $30.00 interest? Or $60.00 total??
    talaniman's Avatar
    talaniman Posts: 53,884, Reputation: 10852
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    #2

    Feb 2, 2019, 05:59 PM
    He will be charged whatever the interest is by the card contract on the monthly unpaid balance.
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #3

    Feb 3, 2019, 04:20 AM
    Thank you
    talaniman's Avatar
    talaniman Posts: 53,884, Reputation: 10852
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    #4

    Feb 3, 2019, 07:17 AM
    Be aware that the fees for the cash advance are part of his new balance that the monthly interests apply to.
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #5

    Feb 3, 2019, 08:53 AM
    Very Good

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