Two separate cash advances. Limit exceeded?

[Doghouse]

I know about the 70 day cash advance wait and $750 rule. I made two cash advance withdrawls on two of my citibank cards the same day. Two entirely separate citibank cards and statements. One advance for $450. The other for $350. Does this exceed the $750 rule or is it looked at as two different transactions?

BTW, I should be okay as I don't plan to file till after year end but just wanted to know for reference. I have now missed my second due date for citibank payments and those guys are phoning like crazy. Basically receiving about 7 to 10 calls a day last several days. I owe appx. $6000 and $5800 respectively on each card.

[JRScott]

Since it is two separate cards I believe you would avoid the 750 dollar rule but I can't be certain.

[Doghouse]

Thanks, not sure too. I'll have to ask the attorney when I meet with her again next week or after.

[Phillymanhere]

Actually, I think this would clearly count as one transaction.

My thinking: I have two cards with Citi, two with Chase and two with BOA. I do not get separate calls for the separate accounts. I get calls from each bank asking about all the accounts I have with that particular bank.

By the way, your language is a little strong. Technically they can challenge any expenditure past 70 days. It's just that the 70-day thing is the date at which the presumption changes. Fewer than 70, you have to prove you didn't abusively use the system. More than 70 they have to prove you did abuse the system.

Don't take the rules so literally. In law, everything is part of a broader context.

That said, this $800 total is not a lot of money for a big bank to go after you on. I took out a cash advance of $8K with one bank. It's past a year from when I did so. But that is the type of figure you want to worry about.