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Aug

03

Credit Card Cash Advance Cheques?

Published under Fast Cash Cash Advance by admin.



I am about to use my cash advance cheques. A total of 7 of them. From different companies. I have very high cash advance limits with each of my banks. I am withdrawing on each card approximately $10,000.00 well below my limit on each card. My credit is perfect.

Question.
Is this advance posted for all the companies to see?? Will they know that I have done this for a total of the $70,000.00 and not approve it?
Everytime I use one of these cheques how fast do other companies find out about it?, if they do.

I understand some of you will want to talk about the cost, risks..etc. please dont, but thanks….I just would like the questions addressed if someone would be so kind.

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There are 3 Responses to “Credit Card Cash Advance Cheques?”

#1 src50 - 05 August, 5:56 AM

They will all know because it will show on your credit report.

#2 Ruth A - 06 August, 5:59 PM

You have 7 credit cards each with $10,000 or more available for cash advances? That is a great accomplishment, congratulations.

If the credit cards are with different companies, then they won’t have a clue. The only way they would know, is to check your credit as it updates every 30 days. But what credit card companies regularly check someones credit to see if they are advancing from a different companies card. I severely doubt this would happen.

Also, the companies have lent you the money based on certain credit criteria. Even if they knew you were doing advances on other cards, they would probably still be happy that you are borrowing the money, with the assumption you plan on paying it back and their pockets get fat.

#3 StephenWeinstein - 07 August, 3:22 PM

They do not find out that you have used the checks. When they check your credit report, they do see what your balance on the other cards is. If they see your balances on the other cards total over $70,000, they will probably stop sending more checks. However, if you cash the checks at the same time, they should each go through before any of the credit card companies know about the others.

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