Using a credit card for deposit at ***

[jsrowdon]

Just wondering if anyone has used a credit card for their deposit with *** and if so I wanted to make sure it doesn't code as a cash advance or anything like that, just a regular purchase.

I need to pay a deposit on a small contract I am buying and it would be nice if I could get the spending on one of my cards that I need to meet minimum spending on to get the signup bonus. I just don't want it to show as a cash advance.

 

[Friendlyadvice2]

Just wondering if anyone has used a credit card for their deposit with *** and if so I wanted to make sure it doesn't code as a cash advance or anything like that, just a regular purchase.

I need to pay a deposit on a small contract I am buying and it would be nice if I could get the spending on one of my cards that I need to meet minimum spending on to get the signup bonus. I just don't want it to show as a cash advance.

*** used to/may still charge a hefty fee for a credit card deposit. I would inquire to determine how much the fee would be for your deposit amount and determine if the fee is worth paying in comparison to the amount of the signup bonus you'll receive for meeting the minimum spend. You most likely will find it financially optimum to meet the min spend in a different way. Regardless, *** is not a financial institution, so the chances of it coding as a CA are unlikely. FWIW, the fee was not worth paying when I analyzed a similar scenario for my particulars a couple years back. YMMV.

 

[jsrowdon]

I didn't think the fee was too bad, I would not pay it if it was just normal spending but since I need the spending to meet bonus requirements I didnt think it was to our of line.

They charge a $45 flat fee for up to a $2,000 deposit, so its basically 2.25% if you do the max allowed.

Like I said, if it was normal spending I probably wouldn't pay the fee but I am working on 3 signup bonuses right now so every bit helps.

 

[Friendlyadvice2]

For your particulars, it sounds like it's a viable option for you.