# People who know a lot about credit cards..



## HoosierShadow (Apr 20, 2010)

We don't use credit cards. Once only. And it was a lowe's card... heh...

Okay, so here's the deal.... we are planning to get a credit card for one time use as it's easier/cheaper than just getting a small loan. 
Let's say I pay for something with $2,000 cash before the credit card comes. When the card comes, is there any way to pay back that $2,000 to the account/person I would borrow the $$ from? 
Reason being I really need the 'thing' and need it before we'd get the credit card as it takes a week...I needed this 'thing' like last week... 
And I can't wait, because I need it by Thurs.

Anyway to do it? I just don't know anyone I can ask....

Thanks!


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## StaceyRosado (Oct 5, 2007)

are you askign if you can get cash from your credit card? You can get a cash advance on your credit card yes. - you use your pin like you would on a debt card and you pay difference interest on that cash advance then you would on purchases. Be sure to check that before doing so or you may be surprised at how much interest you end up pay out as it usually is higher then your purchases interest.


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## liz (Oct 5, 2007)

Just as Stacey said...once you get your card and activate it you can use it for a cash advance, though I do think there is a daily withdrawal limit on credit cards/ Can't remember if it's $250 or $500, and look at the fine print on the card agreement because most do have a higher APR on cash advances than what they have on purchases.


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## StaceyRosado (Oct 5, 2007)

some credit cards will also come with checks - they withdrawl from your credit card but you use them as you would a check. These also have different interest rates


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## HoosierShadow (Apr 20, 2010)

Thanks Stacey and Liz! I will ask him about the checks! I just need to be able to pay back my husband's bank account for the $$ I am borrowing - it's going towards home repairs and finishing up our goat barn this summer. 
I wish I had a week then it wouldn't be so frustrating.


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## FunnyRiverFarm (Sep 13, 2008)

Just be careful because the interest rates on cash advances are usually really high...like, much higher than a bank loan. I think a personal loan from the bank is about 10% interest and the last time I checked out credit card was like 17% interest for a cash advance and we have really good credit....YIKES!


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## HoosierShadow (Apr 20, 2010)

Hmmm...I wonder if I can charge payment to my paypal account? Credit card is in my hubby's name since I don't have a regular income and don't have as much credit as him right now. I'll have to find out how much paypal charges. I'd just rather be able to deposit the $$ into the savings account so it's there when we get ready to do the work around here. 

Why does everything have to be so complicated? LOL


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## PznIvyFarm (Jul 25, 2010)

Don't know the whole situation, but if you are doing the home repairs yourself and the goat barn stuff, why can't you use the Lowe's card for supplies?

I love the Lowe's credit card. I wait until they offer 12 or even 18 month financing, buy all the stuff I need for a project and pay it off when it is due so I don't get dinged for interest. This year I have a few payments for projects I did last year.

They just had an 18 month deal expire yesterday, but sometimes you can talk them into doing a recent deal if you are buying a bunch of stuff. I have talked them into 12 month financing before when I bought stuff between deals - if you get the right person (like a manager) and strike up a rapport with them it is easier. I am in Lowes all the time.


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## HoosierShadow (Apr 20, 2010)

Thanks so much. That's what I told him, so we'll see what he decides. We may pay someone to do the repairs? Just don't know yet as he only has one day off a week so it's hard to do any projects 
I told him we can use the card to buy groceries, gas, etc. as well. I have a small income monthly and if it doesn't change, I can give him most of the check and use the rest for payment on credit card. Some of the tax check can go towards what I am buying. 
I'm getting ready to go pick it up soon if I can get out - we've had almost 4 inches of rain since midnight! Fingers crossed....if I can get to the city to get it, I'll share what it is!


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## toth boer goats (Jul 20, 2008)

> Don't know the whole situation, but if you are doing the home repairs yourself and the goat barn stuff, why can't you use the Lowe's card for supplies?


 This is a better way to do it ..I agree...as you don't have to take money out of the husbands account and if you have to ...you can make payments on it.....if you don't want to use the money.... :wink:

Cash advances and checks from a credit card is very high in interest.....


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## HoosierShadow (Apr 20, 2010)

Okay I talked to the bank and he said I can do cash advance for 4%! So it'll work out 

Hubby let the Lowe's card go as it expired and he opted not to renew. We're not sure yet if we're hiring someone to do it, just depends on if my family can help - hubby only gets one day off a week


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## HoosierShadow (Apr 20, 2010)

BTW...this is what I bought!!!!!! I picked it up today...I am sooo excited, but also terrified to take it out of the box LOL!!!! I was able to borrow this for 4 days last fall and I wanted to cry when I had to give it back!!!

sorry best video I could find...
http://video.search.yahoo.com/video/pla ... =11aajl88t


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## Milk (Apr 12, 2011)

debt relief program 


HoosierShadow said:


> We don't use credit cards. Once only. And it was a lowe's card... heh...
> 
> Okay, so here's the deal.... we are planning to get a credit card for one time use as it's easier/cheaper than just getting a small loan.
> Let's say I pay for something with $2,000 cash before the credit card comes. When the card comes, is there any way to pay back that $2,000 to the account/person I would borrow the $$ from?
> ...


I don't think it is possible to get the money before you get the card. Also, you stated that it is cheaper to get a credit card than it is a small loan. That is likely not true. Of all forms of credit, credit card have the highest interest rate. I know you needed it yesterday, but you will likely have to wait. Sorry.


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## HoosierShadow (Apr 20, 2010)

Thanks. We did get the credit card within a week, but have opted not to use it. 0% charges if we use it and pay within the first 6 months, otherwise I think it was 10% afterwards.

Hubby has a new idea now....lord help us....

There is a beautiful place up the road being auctions in a week or two....he wants to see what kind of loan he can get approved for <we can use our place as collateral>. I told him it's going to be expensive....but his response was... 'doesn't hurt to try.' While I'd love to have that place.....I am realistic...LOL


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