Emerald Advance Line of Credit..... has anyone done it and how was it? Also - I can't see it in the initial description I assume all one needs is a valid driver's license or passport? Thanks

Awful. You get your money on a debit card and you have to do backflips through hoops to get it into your bank account.

MSC has a handful of them with hiked fees. I'm still new at this and don't want to sign up for one that is backflips. Doesn't;t do MSC good, doesn't do me good. Funny if it was a more straight up shop - I'd do it - perhaps for less than they are offering.

Go to a grocery store that gives cash back at the register. Make a purchase, one bananas or apple and get the maximum cash back you can from the card, $120 since the shops are at $125 near me.

Then just use the debit card until the rest of the money is gone. Even so, it's sometimes a @#$%& to get the last little bit off the card. If you know the exact amount and the casher can put in that amount prior to you swiping the card otherwise good luck.

That depends if there is a monthly maintenance fee on the debit card though.

Are you signed up with KSS Scheduling? They usually have tax shops with a different client. The bonuses are pretty good starting in March, maybe sooner. I think Pete schedules the shops.

@BabyBooey19 wrote:

MSC has a handful of them with hiked fees. I'm still new at this and don't want to sign up for one that is backflips. Doesn't;t do MSC good, doesn't do me good. Funny if it was a more straight up shop - I'd do it - perhaps for less than they are offering.

The shop itself is not hard but like others have said you're getting the refund on a debit card. So just depends on how much your refund is and your tolerance or desire to use a debit card for it. If you're looking to do it, wait, they end up getting nicely. bonused as they sit.

This isn't tax refund. This is Emerald - shopper goes in and applies for a line of credit.

Just to clarify....this is applying for a line of credit - not doing taxes. Emerald.

Apologies all. I think I understand now - it's not just applying for credit. It's going to H/R block...... to get credit against your tax refund. Not my jam. I never knew such a thing even existed.

Apologies all. I think I understand now - it's not just applying for credit. It's going to H/R block...... to get credit against your tax refund. Not my jam. I never knew such a thing even existed.

SORRY I now get it. It isn't just applying for a small loan - it's credit based on tax refund. Not my thing. Geez never knew this even existed.

Yes, Emerald is a line of credit advance. It goes on a prepaid card. It can be paired with a tax return or not. And it's up to $1,000.

Your refund is on the card, not the MSC fee. And there are fees to use the card as a Visa.

I wanted to transfer the balance to my savings account. I had to fill out a paper form and send it to the card people. That is not acceptable to me.

@wrosie wrote:

Go to a grocery store that gives cash back at the register. Make a purchase, one bananas or apple and get the maximum cash back you can from the card, $120 since the shops are at $125 near me.

Then just use the debit card until the rest of the money is gone. Even so, it's sometimes a @#$%& to get the last little bit off the card. If you know the exact amount and the casher can put in that amount prior to you swiping the card otherwise good luck.

That depends if there is a monthly maintenance fee on the debit card though.

Edited 1 time(s). Last edit at 01/06/2023 10:08AM by HonnyBrown.

HB - This is not a tax refund shop. This requires that you apply for an Emerald Cash Advance. If approved, the money goes onto a debit card. The cash advance has a $45 annual fee payable on the day the account is opened. Then there is a 35.9% finance charge are assessed on the amount drawn from your Emerald Advance. So, supposed you applied for a $1000 cash advance. $45 goes to the annual fee immediately. Then you owe $35.9% interest on the daily balance. The minimum that you can apply for an unsecured loan is $350. I am not sure what amount the MSC specifies, but the $350 number comes from the Emerald Advance website. For ease of figuring, supposed you were approved for $1000 and kept the money for 1 month and then paid it off. The interest for that month would be $359/12 = $29.92. So, you would now be out $45 + $29.92 = $74.92. IMHO, the original fee of $100 would leave you with $25.08, which is totally a joke, and that is if you managed to get the money from the card and paid it all back in a month. The fee is currently $175 near me and the last day is tomorrow. The shops are now MAO, so I am thinking about asking for $250 which would leave me with $175.08. If the loan somehow went into month 2 at the full amount (not possible since the minimum monthly repayment on a balance of $1000 is $40), then another $29.92 interest would be due.

Any thoughts?

@HonnyBrown wrote:

Your refund is on the card, not the MSC fee. And there are fees to use the card as a Visa.

I wanted to transfer the balance to my savings account. I had to fill out a paper form and send it to the card people. That is not acceptable to me.

@wrosie wrote:

Go to a grocery store that gives cash back at the register. Make a purchase, one bananas or apple and get the maximum cash back you can from the card, $120 since the shops are at $125 near me.

Then just use the debit card until the rest of the money is gone. Even so, it's sometimes a @#$%& to get the last little bit off the card. If you know the exact amount and the casher can put in that amount prior to you swiping the card otherwise good luck.

That depends if there is a monthly maintenance fee on the debit card though.

Isn't it the tax refund that is advanced to the card?

No, it is not. It is a separate line of credit.

@HonnyBrown wrote:

Isn't it the tax refund that is advanced to the card?

the h&r website says today is last day. i’d say put in request for $400!

also, although website says it’s not tied to a refund, the msc does ask if you expect a refund. since my husband and i don’t expect one, i don’t qualify to do it.

Yes! I saw that today and realized they are two different shops.

@myst4au wrote:

No, it is not. It is a separate line of credit.

@HonnyBrown wrote:

Isn't it the tax refund that is advanced to the card?

I used MAO and asked for $350. They countered at $200. Since I don't have a regular paycheck (just a pension statement each month and Social Security which doesn't issue a statement), I decided it was likely going to be problematic at best.

I didn't get far enough to see that the MSC asks if you expect a refund. I do not, so would not have qualified either.

@LindaM wrote:

the h&r website says today is last day. i’d say put in request for $400!

also, although website says it’s not tied to a refund, the msc does ask if you expect a refund. since my husband and i don’t expect one, i don’t qualify to do it.