I am not sure if anyone has done this before but I failed to find one on this forum. So I think it would be helpful if anyone that knows about this shares his experience here. This may be good for those who want to find a way to post a purchase of a large amount on his credit card with 0apr or with rewards like 5%.

I know most of the bank would claim that it would be a purchase. But from others' experience, it depends. Like BOA checking, some got it as a purchase but some as a CA. It was also said that it would be considered as a purchase only if with a BOA cc. Because of this uncertainty, I was always unconfident choosing a cc funding method when applying for a checking and used check funding instead. That is why I want to start this thread to ask for sharing experience.

Personally I did with LaSalleBank and it was a purchase. Two of my friends used citi and boa cc(worldpoint cc), respectively, to fund a boa myaccess, and was charged the cash advance fee.

I'll keep update it if anyone provides new and useful information about it and supplement the table with the case numbers (#).

Here is the list:

Checking/Savings (Funded)------Limit------Credit Card (Fund from)------Type as Purchase/Cash Advance (case number)

BOA---------------------------$1000(?)------BOA CC ------------------Purchase(?) Cash Advance(1)
------------------------------------------------------Non-BOA CC: Citi ----------------Cash Advance (1)

LaSalle Bank----------------$1000----------------WAMU----------------Purchase (1)

Chase Chase CC
Non-Chase CC:

Citi

HSBC

PNC

Wachovia

Copied and slightly modified from Blok's link, thanks Blok.----

- Citi ($25k even $50k with hard pulls; MC and Visa only)
- Bank of America ($1000 denied then changed to $100; MC and Visa only; $980 from citi pass, counted as purchase)
- wells fargo (500$ limit)
- hth world wide bank (500$ limit initial deposit not sure about after)
- LaSalle Bank ($1000 limit, as purchase)
- WAMU Online Savings ($50 Minimum, $100 Max Visa/MC Only).
- PNC ($100 max)

ok

And why was WAMU automatically superlinked? WAMU sponsors FW?

Where's the link? Couldn't find it.

sushiosushi said:Been covered before.

There have been attempts at a thread like this but info is scattered. But there is no comprehensive list of which banks will accept a credit card and treat it like a purchase. If there is one,then will someone supply the link to the thread.

nymgiants said:sushiosushi said:Been covered before.

There have been attempts at a thread like this but info is scattered. But there is no comprehensive list of which banks will accept a credit card and treat it like a purchase. If there is one,then will someone supply the link to the thread.

Yep. That's exactly what I meant to do in this thread, since I couldn't find a comprehensive list.

Anyone ever funded a Citibank account with a WAMU Credit Card? If so did it come up as purchase or cash advance

Has anyone opened a citi account recently using the citi 5% cash returns card? Purchase or CA?

On a side note it looks like citi is only allowing one reallocation/statement. Transferred 5k from my old CR card to the new one for a total of 10k and tried to transfer 15k from my AT&t and was told I wasn't qualified since I had already done one this statement.

yawn

robmsu007 said:Has anyone opened a citi account recently using the citi 5% cash returns card? Purchase or CA?

On a side note it looks like citi is only allowing one reallocation/statement. Transferred 5k from my old CR card to the new one for a total of 10k and tried to transfer 15k from my AT&t and was told I wasn't qualified since I had already done one this statement.I'd like to open an EZChecking or USA account and fund it with Mrs Jackcrawfish's CASH Returns card.

I had an online chat with a citibank rep:

Stephen Pina: Hello MRS JACKCRAWFISH. Welcome to Citibank! How may I help you?
MRS JACKCRAWFISH: Can I fund a new checking account (opening deposit) with a credit card?
Stephen Pina: Thank you for your interest in Citibank, it is my pleasure to assist you today.
MRS JACKCRAWFISH: If it's a Citi credit card, will it be treated as a purchase or cash advance?
Stephen Pina: Yes, you can fund a new checking account with a credit card. This will show on the credit card as a purchase.
MRS JACKCRAWFISH: When do I need to provide the funding? Immediately, or can I wait to fund it 30 days from now?
Stephen Pina: I regret that if you plan to use a credit card for your initial deposit this must be done immediately.
Stephen Pina: You can make an initial deposit at a later date; however, you will not be able to use the credit card.
MRS JACKCRAWFISH: I am about to proceed with the account opening online. Is there a spot to provide my credit card information or will I have to call in?
MRS JACKCRAWFISH: Will there be a hard inquiry on my credit report if I apply for a new EZChecking under my current Citibanking login?
Stephen Pina: I regret that I have provided you some misleading information. I apologize that I did not notice that you already have a Citibank account.
Stephen Pina: Only new to the bank clients can fund an account with a Credit card.I'll simply close and then applyMRS JACKCRAWFISH: OK. Thanks for clarifying. Is there a ceiling on the amount of an opening deposit done via credit card?
MRS JACKCRAWFISH: My husband might apply.
Stephen Pina: With your current accounts you have the option to fund the account from you current accounts only.
Stephen Pina: Can you please excuse me for a minute, or two, while I research that information for you?
MRS JACKCRAWFISH: Yes. Also, if you please, "Is there a spot to provide his credit card information or will he have to call in?"
Stephen Pina: Thank you for your patience, I have found that there is a maxim limit of $100,000.00 when using a credit card to fund the account. The credit card option only allows Visa or MasterCard.
Stephen Pina: With the application there is a soft credit inquiry.
Stephen Pina: The third step of the application will allow you to provide his credit card information. He will not need to call. MRS JACKCRAWFISH: Which credit reporting agency will Citibank use for the soft inquiry?
MRS JACKCRAWFISH: Thank you for your thorough answers. I appreciate all the help.
MRS JACKCRAWFISH: Do you know which credit reporting agency will Citibank use for the soft inquiry?
Stephen Pina: We can use all three of the credit bureaus, Equifax, TransUnion, and Experian.
MRS JACKCRAWFISH: That's all I have for now. Thanks again.
Stephen Pina: Thank you for participating in Citibank Chat. Have a good day.

You are now disconnectedThen Ipecac posted / said:As usual with Citi reps, there is a bit of truth and plenty of misleading info there. When you fund via credit card, you don't have to do it immediately. I don't know the exact time limit, but I did it about a week after applying online without a problem. It is done via faxing or mailing a form that you print out, so obviously they need to allow enough time for the mail to arrive. When you apply and choose credit card funding, the application will provide the link to the PDF to print and fax.

You don't have to be new to the bank to fund the account with a credit card, but you must 'act' like you are new when you apply online. Just make sure you don't login before applying. Use the long application forms where you must type in all your info.

Also, it is a hard credit pull when you open the account. For me, it was TU.