Cash advance finance charge for negative balance?

Personal Finance on May 19th, 2011 1 Comment
mlittle23 asked:

I opened a credit card that has absolutely no transaction fees for balance transfers, cash advances or foreign transactions. I understand that there is no grace period for interest on cash advances. Am I correct in thinking that if my card has a negative balance, I could take a cash advance and pay no interest charges? Wouldn't they be calculating the interest on a negative balance?
When I refer to a negative balance, I'm going to make a payment in excess of the amount due on the credit card. The negative balance is the amount the credit card company would have to refund me to return me to a zero balance.

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One Response to “Cash advance finance charge for negative balance?”

  1. Iffy says:

    If you have a negative balance you owe the credit card company the amount. No you cannot take a cash advance when you account is in the negative