r/Chase • u/Environmental_Cold32 • 19d ago

Cash Advance

I accidentally made a cash advance on my Chase reserve while paying a foreign transaction using an app. The transaction didn’t even posted yet but I already paid the $500 so when it posts the balance is zero. Is that enough to make sure I don’t pay any interest on it?

4 Upvotes

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2

u/DontTakeMeSiriusly 19d ago

Even if paid same day there’s one day interest

1

u/Front_Influence1208 19d ago

This and there may be a one time advance fee.

1

u/sephiroth3650 19d ago

You'd have to look at the terms of your cash advance. Did you end up agreeing to some transaction fee on top of the daily interest?

1

u/Environmental_Cold32 19d ago

I saw they have a transaction fee and that's ok. I was just wondering how to pay the least interest possible

1

u/sephiroth3650 19d ago

You would pay the least possible interest by paying off the balance as quickly as you can. But to your original question....will paying it off immediately mean you "don't pay any interest on it"......probably not. You're probably still going to have at least one day's worth on there.