Regions Credit Card Cash Advance By Tina Lehman on - Updated Sep 18, 2011
A couple months ago we found ourselves in a bind with a very high credit card balance and no way to reduce our interest rate below 20%. I have a bank account with Regions Bank and called them to see if they offered a credit card at a lower interest rate we could transfer our money onto.
What Regions Bank offered me was a cash advance. I think I had probably received offers for such a thing in the mail, but never had a need so never paid attention. For a fee of $75 I was able to get enough money advanced to me to pay off the high interest credit card. I was able to borrow this money at 0% interest for 12 months. After 12 months, the interest rate is comparable to other credit cards, but we are hoping to have our balance paid off completely by then.
I was impressed with how fast the advanced money ended up in my account (within three days). I receive bills to make monthly payments, just as if it were a credit card. It is important to pay these bills on time, because the 0% interest rate is only good for accounts in perfect standing.
If you find yourself in a bit of a bind with a high-interest credit card, I would encourage you to check out a cash advance from Regions Bank.
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Regions Bank Cash advance
I like this concept. It helps people reduce debt affordably while still building credit responsibly.
This is a good idea as long as you pay on time like you stated. But you having the ability to pay bills online will make this easier to check. Good for you for finding such a great way to pay off debt.
Impressive that a cash advance was able to give you enough money to pay off your credit card and didn't require you to pay them back a week later. It sounds like a great deal!
I didn't know the banks would do that. Thanks for the information. This sounds like a great way to help out in a pinch.
You are so blessed that your account is in good standing with your bank to receive 0%-I hope you'll be able to get this paid off within your 12 months!!
Wow... never heard of a bank that would offer this. That's awesome!
Sounds like a really great deal. Thanks for sharing the information.
Had no idea banks did that and at 0%, usually cash advances are much higher. Good to know
I do hope that you are able to pay off your cash advance within the 12 months, or at least pay it down significantly so that the interest isn't going to break the bank!
That's pretty good to get a deal like that, I wasn't aware that banks did cash advances at 0% interest for 12 months.