Took cash advance from Citicards, how can I pay that off first?? (before paying off Purchases)?

Question

I took a 300.00 cash advance from citi cards, and I heard rumors that if I choose I can pay off the cash advance first (just don't know how), and another rumor says I have to pay the entire Purchase balance off before I can handle the Cash advance balance.

Answer 1

Do you have another credit card (with no balance)? If so, maybe you could take another cash advance and use it to pay off the entire balance of the Citi card. While you are doing this don't use either card for purchases until it's all paid off.

Answer 2

The bank will decide how the payments are applied to your account. In virtually all cases, they apply the payments first to any unpaid amounts and fees, then to the interest due for the current period, then to the balance with the lowest interest rate. From that point, if there is enough $$$ left from the payment, it is applied to the balance with the next highest interest rate and works up the chain from there.

When you take a cash advance it will attract a higher interest rate than purchases in most cases. That balance will remain there with its higher interest rate untill the entire purchase balance has been paid in full. If you always carry a balance, you'll pay for that cash advance virtually forever.

Dirty little "secret" of the credit card industry. If you don't like it -- and only a banker would -- contact your elected representatives and demand a law requiring apportionment of credit card payments.

Answer 3

I don't think they will let you pay off the cash advance first. You should try calling the customer service line. That's the only way to get something changed. The number is on the back of your credit card.

If that doesn't work, you'd have to transfer the entire balance to a different card. If you choose that, be very careful of service charges. Sometimes you can find an offer that waves them. Only use credit cards that you currently have and trust Sometimes the fine print on new offers is a killer.

Answer 4

Usually with a credit card, they make you pay the one with the higher interest rate first. What I suggest doing is calling customer service. Ask them if it's possible to pay off the cash advance first. I'm not sure if you'll be able to though.

Answer 5

yes, you can pay that first, but you have to call them and make arrangements to do this. cash advance is always a bad idea, rather get a balance transfer check and use it to deposit some money into your checking account. this avoids the cash advance high % rate.

Answer 6

Depends on what your cardholder agreement says. Why don't you call Citibank instead of asking a million people who don't know the exact answer. The telephone number is on the back of your card.

Answer 7

Call them and see what u can do..