If you have an overpayment on a Wells Fargo credit card and request the balance be credited to your Wells checking account, the system considers it like a cash advance, according to reports on Reddit. Apparently, their system does not differentiate between cash transfers from a credit card versus overpayment transfers, and just considers both to be liable for a cash advance fee.
It’s likely that other overpayment reimbursement methods, such as requesting a check, will not result in the cash advance fee, but worth keeping in mind if you bank with Wells Fargo and use their credit cards.
I also learned the hard way that you can’t get statement credit from cash back or over payment out without a cash advance fee on CIBC credit card
This could come up when the $500 bonus posts in December after I stopped using the card in September.
As mentioned in the post you can request a check for the bonus once it’s posts as an overage on the account. That was no issue for me on the Business Platinum card a few months ago.
Seeing my r/churning post on a DoC post – now I KNOW I’ve arrived in the churning world!
🙂
Isn’t r/churning for more advanced folks?
Slickdeals ➡️ Other sites similar to DoC ➡️ DoC ➡️ Reddit ➡️ Super Secret Gangbang Club
Yeah, and at every step you should be looking back and finding ways to help others on the journey that helped you get where you are. Ain’t none of us who got there by ourselves.
*And don’t forget about FT, though maybe you’re not at that level yet 😉
I lurk there too. 😏
Just take it to the CFPB and the media. Eventually consumers will move and they’ll go under
Read the linked Reddit post – this was taken to CFPB. Wells Fargo lied to the CFPB, saying the customer had requested the cash advances, and then told the customer their internal investigation was ongoing (i.e. they could not demonstrate that the customer requested cash advances).
I guess that you’re joking about the fact that people still bank w them after their many many scandals?
So long as they offer sweet checking bonuses, I’ll “bank” with ‘em.
are you sure they don’t bank you without you knowing it?
I recently got a check and there was no cash advance
Anyone notice how Citi tries to sneak you into doing a balance transfer when you go to make a payment? This is the case on my Expedia Voyager.
Do I smell a lawsuit?
People should try it first and see for themselves before commenting.
Wells Fargo is gonna Wells Fargo
They need to stick to what they know-opening fake accounts for people. Of all things that could be a cash advance, this is not one of them. Maybe without the fake account revenue they had to borrow Citi’s IT department haha