Open a bank account using your credit card for opening deposit?

Are there any banks that allow you to open/fund your new account using your credit card at the branch?
Open a bank account using your credit card for opening deposit?
Credit cards are evil don't use them!!! Especially for something like that! The credit card will charge you an ungodly fee for getting money from a bank and then charge you a higher interest rate for a cash advance. OH YAA and when you are trying to pay you credit card bill off. They will apply the money you pay towards lowerer interest rate. Saving the higher interest rate for the last thing you pay off. CREDIT CARDS AR EVIL STAY AWAY FROM THEM!!
Reply:PNC Bank allows you to fund a new account with a credit card and does not consider it a cash advance. Report Abuse

Reply:At most bank branches, you may use your Visa or MasterCard to get a cash advance for almost any amount up to your available Cash Limit. You may then use the cash to make an initial deposit.





Warning, credit card cash advances carry heavy fees, usually 3% of the amount withdrawn. If addition, cash advances are usually subject to a high interest rate with no grace period, meaning that the cash balance generates interest from the moment you get the cash to the second it's paid off. And if you are already revolving a balance on the card you use, the credit card company usually applies payments to regular balances before cash balances, which means that that cash balance generating high interest for the bank will be the last thing your payments get credited to. So if at all possible, try to find another way of getting that initial deposit.
Reply:Using your Credit Card to fund the opening deposit for a bank account.


Haven't heard of that one yet. But in theory you could... get a cash advance on your credit card and then turn around and use that cash to open a bank acount.





Would not be financially sound because you pay huge interest fees on cash advances from a credit card.
Reply:They CAN'T do that. What they COULD do is allow you to get a cash advance from the card, and use the cash to open an account. The INSTANT interest and cash advance fee are probably not worth it.
Reply:No. You need cash to open an account.
Reply:not that i know of
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