Travel

Amazon Chase Visa cash advance

  • Last Updated:
  • Feb 3rd, 2017 9:24 pm
[OP]
Member
Dec 21, 2009
289 posts
24 upvotes
Toronto

Amazon Chase Visa cash advance

Scenario 1:
Assume I have a zero balance. I am going to travel to USA and use amazon chase visa to take money out from ATM using cash advance of some other currency say $100usd.
This way I will need to pay the amount $100usd in cad + cash advance fee (1% / min $5) + cash advance interest (19.99%).

Now, scenario 2:
Say I pay my credit card $1000 cad before I go to USA. Now my card balance has a credit of $1000. Then I am doing the same thing as scenario 1.

Anyone know if this will waive the cash advance interest? Anyone tried this before?

Thanks
15 replies
Newbie
Oct 21, 2013
11 posts
4 upvotes
New Westminster, BC
I have tried scenario 2 while I was in Japan last year. I only got charged for the cash advance fee($5), no interest.
Deal Addict
Nov 12, 2006
1824 posts
408 upvotes
OP, if you have the money to pay scenario 2, why not just take the money with you and save the $5 cash advance fee?
Deal Guru
Sep 2, 2008
11773 posts
1618 upvotes
doberman_baby wrote: OP, if you have the money to pay scenario 2, why not just take the money with you and save the $5 cash advance fee?
Better exchange rate? There is no forex charges with the amazon card I believe.
Sr. Member
May 11, 2008
816 posts
358 upvotes
Vancouver
I did scenario 2 for 2 1/2 months while traveling around Southeast Asia in 2015.
You won't be charged interest, just the cash advance fee.
Banned
User avatar
Jun 8, 2008
3977 posts
1415 upvotes
Toronto
I just did scenario two - was charged the cash advance fee but no interest.
Deal Addict
Jul 21, 2005
1790 posts
897 upvotes
Alberta
This is good to know. I was planning on doing this exact thing for my trip to Brazil in a few months, don't want to carry too much cash with me, but will require lots for the trip in general as Brazil is expensive. This cash advance fee, is that per transaction?
Deal Addict
User avatar
Jun 29, 2010
1290 posts
463 upvotes
I sorta did Scenario 2 in Italy, where I advanced €100, then immediately went to EasyWeb and fired off an overpayment of CAD 175 to cover it. I didn't get interest, just the fee.
Deal Fanatic
User avatar
Jun 22, 2007
6608 posts
2245 upvotes
Caledon
I have been doing Option 2 since 2007.. its just ease of use.. no need to convert and then reconvert of unused .. easy to withdraw when in need .. its a good old trick .. always load up ur credit card ..
[OP]
Member
Dec 21, 2009
289 posts
24 upvotes
Toronto
Thank you everyone. I will do Scenario 2 next time I go travel =)

Better rates and safe (dont have to carry cash and scared of thief)
Deal Guru
Sep 2, 2008
11773 posts
1618 upvotes
The only thing is that I tried scenario 2 a couple times in the US and it did not work. I forgot which banks I tried. Are there only certain machines I can use? I was using a Marriot Chase Visa (canadian).

One of the banks I tried was bank of america.
[OP]
Member
Dec 21, 2009
289 posts
24 upvotes
Toronto
Fileboy wrote: I have tried scenario 2 while I was in Japan last year. I only got charged for the cash advance fee($5), no interest.
wondering if you rmb which atm you used? 7-11 or banks?
[OP]
Member
Dec 21, 2009
289 posts
24 upvotes
Toronto
slowtyper wrote: The only thing is that I tried scenario 2 a couple times in the US and it did not work. I forgot which banks I tried. Are there only certain machines I can use? I was using a Marriot Chase Visa (canadian).

One of the banks I tried was bank of america.
hm....what do you mean it did not work. You cant get money out or they charged u interest?
Newbie
Oct 21, 2013
11 posts
4 upvotes
New Westminster, BC
wasape wrote: wondering if you rmb which atm you used? 7-11 or banks?
I used 7-11 ATM machine. I read a forum message from another post that 7-11 and Post office ATM's are best ones to use in Japan, so I adhered to that.
Deal Guru
Sep 2, 2008
11773 posts
1618 upvotes
wasape wrote: hm....what do you mean it did not work. You cant get money out or they charged u interest?
it would not allow me to take any money out. I remember now, I tried Bank of America and Chase bank machines in the US.

I needed the money, so I just used my debit and bit the bullet on the fees and bad exchange.
Deal Guru
User avatar
Mar 23, 2008
12221 posts
8631 upvotes
Edmonton
Check with your bank about your liability for negative balances on your card. You may not be protected.

C

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