how much do credit card companys charge for using ATM's?

[reed dollaz 10+ year member]

how much do they usually charge for taking your credit card to an ATM and withdrawing money? i have no money in the bank, all i have is my credit cards. and i cant exactly use a credit card for EVERYTHING if u know what i mean. anyone know the basic charge amount?

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[Flipx99 5,000+ posts]

It's an ATM fee plus a daily rate.

You are going to get pwnd by interest because you have to pay off everything. The credit crad company credit the balance with the lowest interest rate first.

 

[Scoobydoo 5,000+ posts]

it is considered a "cash advance" so the interest rate will probably be double what your normal rate is, so dont do that much. i would highly recommend reading your agreement before trying it cause it may be upwards of 25% interest!

 

[rtillaree 10+ year member]

i think i read in the NY times not even a month ago that taking out cash advances on credit cards was one of the top 5 worst thing you can do credit wise...i've never done it but i read the fine print on my SINLGE credit card and the interest is ****...

 

[faulkton 5,000+ posts]

Its really not that bad.

Its a great way to build some credit really quick.

 

[SRim23 5,000+ posts]

dont do it!!!!! i will guarantee that your interest rate on cash advance is at least 25%!!!!

take it from a person that started his adult life taking all college loans out in my own name and maxing credit cards paying for books and what not, it is horrible!!!

wish i hadnt done it. Woulda def started in community college and not gotten the credit cards!!! lol

 

[SRim23 5,000+ posts]

Its really not that bad.
Its a great way to build some credit really quick.

im guessing that if he doesnt have money in the bank now, he may not have it when the credit card bill comes around........ i could be wrong.

 

[SyKo13 5,000+ posts]

$2

 

[hoxie08 5,000+ posts]

well the atm fee varies. if its at a bank its just the banks processing fee, however if you use it at a gas station or wal mart or something, they get to choose a higher fee, part of which they get.

 

[DBfan187 5,000+ posts]

debit cards ftw!

 

[Flipx99 5,000+ posts]

how much do they usually charge for taking your credit card to an ATM and withdrawing money? i have no money in the bank, all i have is my credit cards. and i cant exactly use a credit card for EVERYTHING if u know what i mean. anyone know the basic charge amount?

debit cards ftw!

I don't think debit cards work if you have no money in the bank.

 

[Scoobydoo 5,000+ posts]

if you are really desperate for cash, and dont plan on being able to pay off most of what you borrowed by the end of the month i would get a small loan from your bank instead of a cash advance from a credit card

 

[reed dollaz 10+ year member]

well i get paid on friday. i would pay off whatever i get advanced to me by monday. i dont like using credit cards unless i have to (internet FTL) i like having cash. i was just curious but looks like itll be a bad move. im trying to rebuild my credit, i dont want anything to **** it up. i guess ill try and get a bank loan to hold me over till friday.

 

[CapzNCoilz 10+ year member]

there are no such things as bank loans to hold you over until friday.

get into check cashing - those people that work there are so nice!

 

[dleccord 5,000+ posts]

start cashing them coins in your closet.