Credit card cash advance is a facility provided by the card issuer to allow the member to withdraw money via ATM, over the counter. Normally the cash advance amount is some percentage of card holder's credit limit.
Of course the cash advance come with a price to the cardholders, normally card issuer with impose higher-than-normal interest charges. To the cardholders, cash advance is money owed to the card issuer with high interest charges and finance charges. If you really have to use the cash advance facility, avoid using ATM machines as there maybe additional fee charged for withdrawal with ATM.
Cash advances begin accruing interest immediately and, therefore, are not subject to a grace period. Thus, even if you pay your card balance in full when your bill arrives, you will still be accessed a finance charge for any advances.
Sometimes, cash advance also known as payday loan, paycheck loan, or payday advance.
Cash Advance allow you the flexibility to handle those emergency cash situations such as unexpected medical bills, auto repairs or other short term cash needs.
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