when you use a credit card i know it is possible to go over your credit limit using the card in stores for purchases, but my question is---- is it possible to go over your credit limit getting cash advances? i mean if i only have available credit of 500$ and available cash 500$, if i go to the atm machine to get a cash advance can i get 1000$ and go over my limit as you can do using the card in the stores?
2006-07-03 05:28:28 · 5 answers · asked by peakcox 4 in Business & Finance ➔ Credit
very much so, if you take out the cash in chunks not exceeding the daily limit. basically you can go over your credit limit doing any thing, once the transaction is approved. thereafter you begin to pay and painfully soo too.
2006-07-03 09:37:54 · answer #1 · answered by Akowekowura 1 · 0⤊ 0⤋
Yes. For small amounts, sometimes the ATM runs the amount through without prior approval, which could make you go over limit.
Keep in mind, the credit card companies WANT you to be over limit, because then they can slap the over limit fees on you, and that's how they make their money, through fees!!!
2006-07-03 05:32:40 · answer #2 · answered by Anonymous 7 · 0⤊ 0⤋
I'm not positive but i really don't think so, and usually you can only go over your limit on purchases for a certain amount....
2006-07-03 05:33:15 · answer #3 · answered by ramos_luanne 3 · 0⤊ 0⤋
overhere in the UK no
2006-07-03 05:33:18 · answer #4 · answered by dumplingmuffin 7 · 0⤊ 0⤋
i dont believe so .. and if you can.. i dont suggest it
2006-07-03 08:34:16 · answer #5 · answered by ﺸÐïåMóñdÐôññåﺸ 5 · 0⤊ 0⤋