No to Cash Advances
By suspenseful
@suspenseful (40193)
Canada
May 14, 2009 1:09pm CST
I tried to get my Mastercard credit card limit raised. Yet I can get a cash advances for twice that much. They tell me when my circumstances change, but I already pay off my credit card in full each month and in fact I will pay it off before the bill arrives. So what is going on? Do they have this thing against senior citizens, that once you reach 65 your credit limit goes down? Yet they are perfectly willing for someone like me to ask for a cash advance at twice the amount and pay interest from day on, rather then putting the same amount on my credit card when all I have to do is transfer money from my savings into my checking and from my checking to my credit card. And if they want my circumstances to be so I could borrow, why do they not lower the amount I can borrow using cash advances? But no, they will not.
So what is wrong with this system? If they think that I am a bad risk because of my age is that not discrimination?
1 person likes this
9 responses
@suspenseful (40193)
• Canada
14 May 09
That is what I think. They know I am a good credit risk It is just that I might want to purchase a big item and I want to be ready.
@gitfiddleplayer (10362)
• United States
15 May 09
It is, I'm not sure, maybe the economy has something to do with it.
1 person likes this
@Thoroughrob (11742)
• United States
15 May 09
They won't make money by you paying off the entire balance. That is my guess.
1 person likes this
@kykidd (6812)
• United States
14 May 09
I wonder if the reason that they will not raise your limit is because you do pay it off each month. They are not allowed to discriminate by age. They can go by your income. That would be the only way that your circumstances could change.
However, I do find it very odd that they are willing to loan you twice as much on a cash advance. That is illogical. I thought most credit card companies would only lend you half as much.
Sounds like they have a few glitches in their odd little system.
1 person likes this
@suspenseful (40193)
• Canada
14 May 09
That is what bothers me. And I do not want to have a balance each month. I went through that years ago, at least 10 years, and i got into trouble that way. I am not wealthy and I need all the money I can have and I do not just want to charge everything, as I have to put more money in my savings account because the interest rate is so ow.
@smileonstar (4007)
• United States
14 May 09
hi, it is really depend. sometimes they base on their available offer... or if you have never get any offer from them then they won't do it. And another thing they might base on your credit score and other credit card company. Did you ask for reason? they should tell you why or send you something in the mail.
1 person likes this
@liaoliao1 (50)
• China
15 May 09
ha ha i have met the same kind scene! no problem ,you can do ,only you can do is waiting!
@Lindalinda (4111)
• Canada
15 May 09
I don't know which bank you are dealing with. Maybe it is time to change to another Mastercard. I am a senior citizen myself and my credit limit on my Mastercard is much greater than the amount I could take out in a cash advance. In fact from time to time they automatically raise my credit limit without me asking for it. You probably get numerous offers for credit cards in the mail, so pick a better deal.
@GardenGerty (158301)
• United States
14 May 09
I have understood that sometimes they refuse credit if you pay them off all the time, and never end up paying them interest.
They are in this for making money not for doing you a favor.
You will make them broke by not paying them interest. 
They are in this for making money not for doing you a favor. You will make them broke by not paying them interest. 1 person likes this
@stephcjh (38473)
• United States
18 May 09
I honestly do not think it is age related. They do the same thing to my husband and I and we pay our bill in full every time also. They even cancelled one of my cards because we would not let any interest accrue on it before we paid it off. They are a scam and ripoff.
