MBNA cash advance fees?

May 12th, 2020 9:47 pm

#1

UrbanPoet [OP]: Deal Expert; Jan 27, 2004; 52410 posts; 17458 upvotes; ONTARIO

May 12th, 2020 9:47 pm

I looked through the entire agreement... it only mentions balance transfer fees, no cash advance fees. So i assume theres no fee unless it states it somewhere.

Anyone know if theres any cash advance fees for mbna credit cards?

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May 12th, 2020 10:19 pm

#2

Kiraly: Deal Expert; Jan 9, 2011; 18719 posts; 26576 upvotes; Vancouver

May 12th, 2020 10:19 pm

1% of the advanced amount, minimum $7.50

He/him
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May 12th, 2020 10:31 pm

#3

titaniumtux: Deal Expert; May 8, 2009; 15560 posts; 14163 upvotes; Going to the Moon

May 12th, 2020 10:31 pm

Kiraly wrote: ↑ 1% of the advanced amount, minimum $7.50

This. Only waived if using a QC address.

The MBNA Prestige Line also didn't charge it until it got nerfed in 2015.

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May 12th, 2020 10:33 pm

#4

Kiraly: Deal Expert; Jan 9, 2011; 18719 posts; 26576 upvotes; Vancouver

May 12th, 2020 10:33 pm

Cardholder agreements aren't the place where fees tend to be listed; instead look at the disclosure statement.

He/him
So how much is that loyalty point you earned actually worth?
List of RFD credit card lists
Did you get hit with customs/duties/import charges on an Amazon.ca purchase? Fight back!

+2

May 13th, 2020 9:10 am

#5

coolintheshade: Deal Guru; Aug 24, 2016; 10776 posts; 12783 upvotes; The Prairies

May 13th, 2020 9:10 am

Why would you want to take cash from a credit card at 22%+ interest anyway?

May 13th, 2020 2:16 pm

#6

Kiraly: Deal Expert; Jan 9, 2011; 18719 posts; 26576 upvotes; Vancouver

May 13th, 2020 2:16 pm

No interest if you have a credit balance. If there really were no cash advance fees like the OP thought, "creative ways" of bill-paying this card into credit balance and then taking cash advances could really pay off.

He/him
So how much is that loyalty point you earned actually worth?
List of RFD credit card lists
Did you get hit with customs/duties/import charges on an Amazon.ca purchase? Fight back!

May 13th, 2020 2:22 pm

#7

titaniumtux: Deal Expert; May 8, 2009; 15560 posts; 14163 upvotes; Going to the Moon

May 13th, 2020 2:22 pm

Kiraly wrote: ↑ No interest if you have a credit balance. If there really were no cash advance fees like the OP thought, "creative ways" of bill-paying this card into credit balance and then taking cash advances could really pay off.

you still can. no fee to transfer credit balance to bank via phone

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May 13th, 2020 3:17 pm

#8

rhw123: Deal Addict; Feb 4, 2019; 2687 posts; 4409 upvotes; BC

May 13th, 2020 3:17 pm

Kiraly wrote: ↑ No interest if you have a credit balance. If there really were no cash advance fees like the OP thought, "creative ways" of bill-paying this card into credit balance and then taking cash advances could really pay off.

Don't do this too often if you don't want to look like a money launderer.

May 13th, 2020 3:33 pm

#9

Kneader: Member; Apr 16, 2020; 372 posts; 480 upvotes

May 13th, 2020 3:33 pm

titaniumtux wrote: ↑ This. Only waived if using a QC address.

Any idea why that is? Other issuers vary in whether they waive the fee for QC residents.

May 13th, 2020 11:45 pm

#10

titaniumtux: Deal Expert; May 8, 2009; 15560 posts; 14163 upvotes; Going to the Moon

May 13th, 2020 11:45 pm

Kneader wrote: ↑ Any idea why that is? Other issuers vary in whether they waive the fee for QC residents.

TD/MBNA started this change around the time QC raised min payments. Other issuers don't seem to have followed suit.

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