Some credit cards offer a cash advance option. But how much?
Not much. In fact, it can be really expensive.
Why?
Because every time you use your credit card to withdraw case, more fees kick in:
- Cash advances can make an advance payment of 2-4 percent of the advance.
- The advances have a higher interest rate than regular card charges.
- The interest charges begin to mount as soon as the money comes from the ATM.
- Many issuers also require you to pay the balances for purchases before cash advances reduce high interest balance.
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