Like anyone in this game, I apply for far more credit cards than “normal” people do. All in the pursuit of points. Granted that I don’t always use every card that I apply for on a regular basis, there are still some that I do introduce to my wallet for regular use. The best advice I could offer anyone, is to lower your cash advance allowable to as low as the particular credit card issuer will allow. I called one such issuer earlier this weekend, and when I got my “credit limit” and “cash advance limit”, I balked, so, even though it wasn’t the point of the call, I asked the agent to drop my cash advance limit to just $100. I think that’s still too high, but I thought, hey, what’s the probability that I’m going to spend small dollars with my Barclay’s US Airways card (which will turn into an Aviator card).
Well, after seeing Chasing the Points’ post, I’m thinking I need to step it up a notch and just drop my available cash advance balances on any cards that I use to $0 or as close to it as possible! I use credit whenever I can, so to think that I might be charged a cash advance fee at Jamba Juice, makes me think, that the risk is just not worth taking.
So the message really is: Lower your cash advance limit to the lowest the credit card issuer will allow you to lower it to. Don’t do it tomorrow, do it today.
H/T Chasing the Points