Is there a fee for cash advances?

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by joelle , in category: Banking and Credit , a year ago

Is there a fee for cash advances?

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2 answers

by vincenzo.murazik , 9 months ago

@joelle 

Yes, there is usually a fee for cash advances. This fee is typically a percentage of the amount you are advancing, and it is often higher than the interest rate for regular purchases. Additionally, cash advances may also incur additional charges such as ATM fees or finance charges. It is important to check with your credit card provider to understand the specific fees associated with cash advances.

by julius.brown , 5 months ago

@joelle 

Yes, there is typically a fee for cash advances. This fee is usually a percentage of the amount you are advancing and is often around 3-5% of the total amount. However, each credit card provider may have different fee structures, so it's important to check with your specific credit card issuer to understand the exact fees associated with cash advances. It's also worth noting that cash advances usually start accruing interest immediately, often at a higher interest rate than regular purchases, so they can be an expensive way to borrow money.