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What Is Credit Card Cash (Cash Advance)?
What Is Credit Card Cash (Cash Advance)?
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alam khatri
1802 posts
Sep 03, 2025
7:50 AM
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When you withdraw cash from an ATM or bank using your credit card, it’s called a cash advance. This gives you immediate access to money, but it comes with costs and risks that differ from regular credit card purchases. ???????
The Pros of Using Credit Card Cash
Instant Access to Money – You can get cash quickly in an emergency, even if you don’t have funds in your bank account.
No Need for Loan Approval – Unlike personal loans, you don’t need to apply or wait for approval.
Worldwide Availability – ATMs and banks globally allow credit card cash withdrawals, which can be helpful while traveling.
The Cons of Using Credit Card Cash
High Fees – Most issuers charge a cash advance fee (often 3–5% of the amount withdrawn).
Immediate Interest – Unlike purchases, there’s no grace period. Interest starts the same day you withdraw.
Higher Interest Rate – Cash advance interest rates are usually much higher than regular purchase rates.
ATM Charges – If you use another bank’s ATM, you’ll likely pay extra fees.
Credit Score Impact – If you don’t repay quickly, your credit utilization ratio spikes, which may lower your credit score.
When It Might Be a Good Idea
True emergencies (medical bills, urgent travel, unexpected expenses) when no other funds are available.
Short-term cash needs where you know you can repay the balance in days, not months.
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wasi
54 posts
Sep 04, 2025
2:15 AM
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