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LDRadium

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What if I take cash advance from a card and immediately transfer its balance to Chase Slate (0%)?
What if I take cash advance from a card and immediately transfer its balance to Chase Slate (0% promotion)? Will I get 0% interest cash in this way?

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Nothing is ever completely free

Helpful to 1 out of 1 people

0% Sure, but what are the actual costs?  There is usually a very high interest rate for a cash advance.  On my cards thats anywhere from 14% to 29%  so if you borrowed $1000 that would be anywhere for $140 to $290.  Then to pay that off with 0% transfer, There is usually a transfer fee of 3-5% or a minimum charge of $30.  on $1290+  that would be $40 to $65.   So the total for the 0% transfer scheme is actually costing any where from $170 to $340  Your minimum payment each month to pay all this back before they start charging interest again is going to be anywhere from $95 a mo. to $120 a mo.  Not so cheap after all.  

Banks do not work for free, and they have no intention of actulally giving you cash to use for free. They will always find a way to make money. 

Good luck 

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Helpful to 1 out of 1 people

No. You will be charged the 29% to 39% cash advance fee. Read, follow directions, and thoroughly understand the transfer fees before you attempt a transfer.

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