What is a cash advance?

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

What is a cash advance?

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1 answer

by matteo.zboncak , a year ago


A cash advance is a service offered by credit card issuers, banks, or other financial institutions that allows individuals to withdraw cash from their credit card or line of credit. Unlike regular credit card purchases, where individuals are required to pay back the borrowed amount along with any applicable interest charges at the end of the billing cycle, cash advances typically have higher interest rates and may have additional fees. The cash advance can be obtained by using an ATM, at a bank branch, or by simply requesting the amount from the credit card issuer.