What will credit companies do if you max out your cash advances every day?
Question:
Thanks.
They won't let you take out more cash than is allowed so you can't get in trouble or anything. It's your credit limit to with as you please!
However, if they suspect fraudulent activity you might receive a call. As long as your verify it's you taking out the cash then you're OK. They're not going to call and ask you "so mr. smith, what are you doing with all this cash your taking out each day?" if that's what you are worried about. Now if stop paying bills and file BK in 6 months then you might have some explaining to do in front of the judge.
They would block the account for future usage.
Regardless of what the CC company may or may not do, are you SURE you want to do this? The interest on cash advances is huge. If you are in trouble and need help, I suggest going to a credit management firm and putting a better plan in place.
You will be charged over limit fee and it will impact your credit rating.
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