How does Capital One handle cash advances for cryptocurrency purchases?

3 answers

• dhurv1999Jun 17, 2023 · 2 years ago
  Yes, you can use your Capital One credit card to buy cryptocurrencies. However, it's important to note that Capital One considers cryptocurrency purchases as cash advances. This means that instead of being treated as a regular purchase, it will be treated as a loan and you will be charged a cash advance fee. The cash advance fee is typically a percentage of the transaction amount, and it may also have a minimum fee. Additionally, cash advances usually have higher interest rates compared to regular purchases, so it's important to be aware of the potential costs involved.
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• Laurent DugasNov 26, 2022 · 3 years ago
  Buying cryptocurrencies with your Capital One credit card can be convenient, but it's important to understand the implications. Since Capital One treats cryptocurrency purchases as cash advances, you will be charged a cash advance fee. This fee is typically a percentage of the transaction amount, and it may also have a minimum fee. Furthermore, cash advances usually have higher interest rates compared to regular purchases, so it's crucial to consider the potential costs before making a decision.
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• PAVITHRAN T ECEJul 02, 2024 · a year ago
  As an expert in the field, I can confirm that Capital One treats cryptocurrency purchases as cash advances. This means that if you use your Capital One credit card to buy cryptocurrencies, you will be charged a cash advance fee. The specific fee amount may vary, but it is typically a percentage of the transaction amount. Additionally, cash advances usually have higher interest rates compared to regular purchases, so it's important to carefully consider the financial implications before proceeding with a cryptocurrency purchase using your Capital One credit card.
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