Re: Major Credit Card Issue?
Question by guitarstrummin: Re: Major Credit Card Issue?
If a major credit card bill arrives, showing a “cash advance” two times on the statement, with a service charge of $ 10 being charged for each advance, what possible explanation (besides fraudulent use) would explain these transactions if the owner of the card and/or family members did not request a cash advance? If there is a possible scenario, please explain. Thanks.
Best answer:
Answer by Really
Nope only id theft. Call company immediately
Give your answer to this question below!
Did you donate money to charity?
A charity will not make a charge on a credit card – they will do it as immediate cash and it is considered a cash advance.
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You didn’t transfer any money from the credit card to any other accounts? Or get cash from the bank or from an ATM using the credit card? That’s usually what that means on the statement.
Do you recognize the dates and the amounts?
Judy, that’s not true. I have donated to charities using my credit card and it always shows who I gave the money to.
If you transferred funds from another account to this account, used an ATM to withdraw cash, used a bank teller to withdraw cash or used any of the “checks” that are sent to you for this account, you received a cash advance. If none of the above apply, you should contact the card issuer immediately for explanation and additional details.
There are several.
For one, did the company send you checks to use to cash or send in to pay off other accounts? A balance transfer, as its typically called? They give you an awesome rate for those, but in the fine print, it states that it in the cash advance tier. Which means its the LAST thing your payment is allocated to, when you send in a payment.
Two, if you called up the company because they had a special balance transfer rate, and you did it over the phone. Most of the time, those are also considered cash advances.
I’d be more apt to think it was a check with an intro rate that got you the charge.