Best Way to Get Cash Advance Without Hefty Fees

Manufactured spending techniques don’t only apply to collecting airline miles and flying for cheap. You can also follow the same guidelines to get a Cash Advance from a credit card.

When to use Cash Advance

Taking a cash advance gives you money in cases where you can’t use a credit card (perhaps paying rent), or have otherwise maxed out your purchasing power. Many financial institutions will charge you a fee between 1% and 5% just for making this transaction.

Better alternative – Less fees

The same manufactured spending methods I wrote about in the past can be used to get Cash Advance and the beauty of this is it only takes a few hours and cost significantly less.

Proceed with Caution. Be responsible and repay your loan When manufactured spending
Proceed with Caution. Be responsible and repay your loan

Please…please! Do not follow what I’m about to write unless it is an absolute emergency and you’re in dire need of cash. You must pay your credit card balance otherwise you will end up incurring interest and possibly fees.

  1. Buy a Visa Gift card with your credit credit card. Gift cards can be purchased at various retailers. The most reliable and cheapest is Simon mall. You can also try major grocery chains like Stop & Shop, Kruger.  Arianna at Pointchaser has a good write up detailing the best places to buy pin-enabled Visa gift cards.  Your Visa gift card can be used just like any other debit card EXCEPT that you cannot withdraw cash out of an ATM
  2. Go to a store that accepts debit cards to buy Money Orders. The money order fee ranges between $0.7 to $1.25 so make sure the gift card balance is equal or greater than the money order amount plus the fee.
  3. Money order is equal to cash. Either cash it out or deposit it in your bank account (you can write the money order to yourself)
  4. This whole process will cost you $8.6 to $9.25 per $1000 ; a bargain compared to the fees you’d pay by taking a cash advance.

Note that the total value of gift cards you can buy is not limited by the cash advance set on your credit card account – you are not actually requesting a cash advance but merely making a purchase.

4 Replies to “Best Way to Get Cash Advance Without Hefty Fees”

  1. Thank you for this idea. I am thinking this might be my best bet since I goofed. I have 2500$ on my 16% APR Chase Sapphire. I wanted to do a balance transfer to a card that has 0% interest to pay this amount down… so I got the Chase Freedom Unlimited with a 2900$ credit limit not knowing they cannot transfer balances within companies.

    Would this technique work to still do a ‘balance transfer’ since I have 15 months of 0% interest on my Freedom card that I want to use to pay my 2500$ Sapphire balance. Does this make sense?

    1. Yes it would work! Basically follow the same process outlined above to get cash advance from your Chase Freedom Unlimited then pay down your Chase Reserve balance. I have to commend you on your creativity 🙂 best of luck

  2. Admin: Here’s my situation. I need to send $5000 to India through Western Union. I was thinking to do Cash Advance through my Chase freedom card although i knew it involves a hefty fee . Then I came across your article and did a little internet research. I read online that we can no longer reload our Visa gift/prepaid cards through Credit cards. Or even if they allow, it will be considered as Cash advance. Is that true ? Do you know any store or website which allows to reload a visa prepaid card using a credit card (like a regular purchase, not considering the transaction as a cash advance). Please advice.
    Thanks in advance.
    I read the article in this link:

    1. That is correct, you cannot load a prepaid card with a credit card. But what you can do is load a prepaid card with a Visa gift card. Here is what you can do.
      Buy Visa gift cards with your Chase credit card. This would not be considered cash advance, just a regular purchase. Make sure the visa gift cards are Pin enabled. The best place to buy visa gift cards is Simon mall or a grocery store if there is no mall near by.
      Then apply for prepaid card like GoBank Or American Express Serve . I recommend GoBank because they are free to reload at Walmart

      When you receive your prepaid card, go to Walmart or find a location where you can reload the card. See more info herefor for GoBank reload locations.

      Once you reload your prepaid the card, the money is available within a couple of minutes. You can then use your GoBank card to pay for the Western Union money order because it is a Pin enabled debit card with your name on it.

      Applying for a prepaid card can take weeks, the other option is to buy money orders with your Visa gift cards at Walmart. You can find more details on that here
      Hope this helps.

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