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Today, I opened an Ultimate Savings account and called the 800 number. The rep said I could only fund the account up to my cash advance limit of my credit card, but that it would post as a purchase.
Today, I opened an Ultimate Savings account and called the 800 number. The rep said I could only fund the account up to my cash advance limit of my credot card, but that it would post as a purchase.
Cheers!
Should have asked for a differant rep or a supervisor. They do not have access to what your credit limit is. The new accounts division just processes it like any other merchant.
Today, I opened an Ultimate Savings account and called the 800 number. The rep said I could only fund the account up to my cash advance limit of my credit card, but that it would post as a purchase.
Cheers!
I opened one today and she told me the same thing. My cash advance limit is zero, so hopefully this will still go through. If it goes through as a purchase, I dont see how cash advance limit comes into play?
Today, I opened an Ultimate Savings account and called the 800 number. The rep said I could only fund the account up to my cash advance limit of my credit card, but that it would post as a purchase.
I opened an USA on the phone last week, and funded it with a Capital One Visa. The rep didn't say anything about my cash advance limit being a factor in how much I could fund. I kept the funding amount under my available credit limit on my CapOne Card, and the charge went through as a purchase as expected.
Am I correct in assuming that people who were told about the "cash advance limit" maximum were using a Citibank card to fund their USA?
Location: Finally back in Boston after escaping from New York
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Quote:
Originally Posted by needtoescape
I opened an USA on the phone last week, and funded it with a Capital One Visa. The rep didn't say anything about my cash advance limit being a factor in how much I could fund. I kept the funding amount under my available credit limit on my CapOne Card, and the charge went through as a purchase as expected.
Am I correct in assuming that people who were told about the "cash advance limit" maximum were using a Citibank card to fund their USA?
Probably easier to assume that the call center reps, as nice as they are, are often misinformed.
Am I correct in assuming that people who were told about the "cash advance limit" maximum were using a Citibank card to fund their USA?
Yes, this was my experience. Citicards will process the purchase only up to the cash advance limit. Don't bother to send cash to increase the cash advance balance, it is what they give you on the card that matters here.
I funded an account for my father today. I talked with a US call center, and was told that because the checking account was already opened, I could not fund via CC. I pointed out that there is no option to fund online when opening an account. After a brief wait, they took my CC info and said the account would fund in two to three business days.
They did mention that although it would be a purchase, it cannot exceed my cash advance limit. My cash advance is set to zero. I asked for just under my limit of $100K. I'll wait and see what happens.
I hope this is not over. I've gotten soooooo much wrong info from Citi phone reps that I don't believe anything they tell me.
Some good news, I opened one yesterday and today I see my citi business card was charged since it shows 0 for available credit ( i had them charge the full limit of 24k ). And my cash advance is also set to zero. It is a citi business MC.
Probably easier to assume that the call center reps, as nice as they are, are often misinformed.
Mike
Mike, good point, but that still means that you need to get lucky enough to find someone who will do what you want to fund the account.
Given "show_me_the_points" recent experience, I guess the "rule" about limiting the credit card funding to one's cash advance limit, with a CB card, is misinformation.
I'm planning to open a CD (the CSR tried to get me to do this when I opened my USA), so I was wondering what experiences others may have had specifically in terms of opening multiple CDs. My questions are:
1) I was thinking about opening one CD relatively soon (e.g., within the next few weeks). Should I wait a little longer (how long?) since I just opened my USA Oct 23?
2) If I open additional CDs, am I correct in assuming that each CD is a separate "new account" (even if I open two CDs with the same term (e.g., one-year CDs) on different dates)?
3) With respect to opening multiple on-line accounts, what is the recommended amount of time to wait so I don't cause CB to shut down my ability to open accounts on-line and fund with a credit card?
4) For anyone else who is buying CDs now, which products are you buying? I seem to be leaning towards the one year CD because anything shorter term is paying even worse interest rates than my USA. I might also consider a two year CD (about 2%) but really cannot justify locking up money for longer terms given the low interest rates (e.g., 3% for a five year CD).
Given "show_me_the_points" recent experience, I guess the "rule" about limiting the credit card funding to one's cash advance limit, with a CB card, is misinformation.
I'm planning to open a CD (the CSR tried to get me to do this when I opened my USA), so I was wondering what experiences others may have had specifically in terms of opening multiple CDs. My questions are:
Does anyone have experience on the number of CDs that can be funded with a CC? Some have stated that the max number of savings accounts that can be opened is 5.
Does anyone have experience on the number of CDs that can be funded with a CC? Some have stated that the max number of savings accounts that can be opened is 5.
Are these still true?
Doubt there is a limit on CD's. When I did mine, he wanted me to ladder them to different maturities, all with the credit card. I told him I'd phone back and open more (which I will ).
Location: Finally back in Boston after escaping from New York
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Quote:
Originally Posted by needtoescape
Mike, good point, but that still means that you need to get lucky enough to find someone who will do what you want to fund the account.
Given "show_me_the_points" recent experience, I guess the "rule" about limiting the credit card funding to one's cash advance limit, with a CB card, is misinformation.
Strictly a guess on my part, but have them submit the charge anyway. It should go through.
In terms of CDs, I don't see any reason not to do the 3-month, since it's not really the CD interest that you're in this for.
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Quote:
Originally Posted by deant
Does anyone have experience on the number of CDs that can be funded with a CC? Some have stated that the max number of savings accounts that can be opened is 5.
Are these still true?
An informed, intelligent CB CSR told me he thought it "would be wiser" to focus on opening many CDs and not so many savings accounts.
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