FinancialNewbie,

WellsFargo bank has a product that will allow you to do a credit card cash advance right into your checking account.

So if your credit line was $8000, you could activate the card, then request a cash advance of $2000 or $3000 into your checking account..

No needing to handle cash whatsoever.


Just so I'm not doing you a disservice... it sounds like you need money rather quickly, so maybe a payday loan is a better choice if you need less than $500.

I hate payday loans because they rip you off..

If you're trying to get cash for a down payment on a home (before it hits your credit), I will caution you against going this route. Sometimes the mortgage process takes a little longer than expected, and once they find out that you "borrowed" the down payment then the whole thing is off.

Again, I don't know your situation, so I won't dive into your business any further.

Good Luck to you!

Im a complete newbie when it comes to credit line so excuse me if I ask dumb questions

I already have a credit line with bank of america through my credit card With bank of america I can already do a credit cash advance right into my bank accoutant I am looking at other credit card/credit lines I can do the same thing with.

So are you saying I can set up a credit card/credit line with wellsfargo? If so I need to set up a bank acoutant with them right? If so what is the mininum I would need for the cash advance?

If It matters my credit rating is almost 800(was great finanically untill recently)

Wells Fargo bank basically has a line of credit product that does not require you to open up a checking account with them.

Once you have been approved and activate the card, you can transfer some money to your current checking account immediately. It takes about 2 days to complete a transfer.

If I'm not mistaken you can open this up online possibly.

Good Luck!

Thanks I'll look into wellsfargo

you can not call on cash advances and use the credit card to a balance of more than 50% of the allowed credit without hitting your credit standing, beside the interest look at the fees, these cash advances are pretty expensive, try to get a card from like AAA which allows transfers for 0% for a 6 month period, so when you are up to the 50% transfer it into another, you are playing with the fire!

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I was going to suggest payday loans (paycheck advance loans) too if they are less than 1k because they often don't check your credit history and working with a few lenders, if you default, they usually don't bother to report it to credit bureaus they just sell it to collection companies and write off the rest!