The Truth About Cash Advances - Are They as Bad as They Say?

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Naam Wynn

Naam Wynn

Күн бұрын

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In this deep dive, we're uncovering the realities of cash advances. Are they as bad as they say, or is there more to the story? Join me as we explore the untold truths about cash advances and whether they're a financial trap or a necessary tool.
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DISCLAIMER:
This video is for entertainment purposes only. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author make no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video. This video and description contain affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This helps support the channel and allows us to continue to make videos like this. Thank you for your support!

Пікірлер: 9
@NaamWynn
@NaamWynn 6 ай бұрын
Check out Empower with my link: bit.ly/EmpowerNaam
@Ryaa680
@Ryaa680 4 ай бұрын
I’m really glad you explained that cash advances can affect utilization ratio *of the cash advance limit* and not of the credit cards actual limit! That is so very important to know/consider. I almost took out a cash advance thinking “it’s 1/5 of my credit limit, I should be ok to pay it off in a year.” Was so wrong, this would’ve wrecked my score every month making min payments. Getting the Personal loan (and paying 60% off immediately) would be better for me. Thank you.
@DJSliick
@DJSliick 6 ай бұрын
Data point… With the X1 card, using it on sports gambling sites is considered a cash advance FYI
@NaamWynn
@NaamWynn 6 ай бұрын
Good to know!
@mprubio84
@mprubio84 6 ай бұрын
Did one for 1,300 through my credit union at 15% first of the month, paid it off the same month end, was only charged $6, don’t want to get in my savings, better with credit unions
@NaamWynn
@NaamWynn 6 ай бұрын
Thats great!
@bbry2003
@bbry2003 6 ай бұрын
Can i use a cash advace to do the Navy Fed Pledge loan?
@NaamWynn
@NaamWynn 6 ай бұрын
Technically you can since that money is deposited to your bank account. But I wouldn't recommend it.
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