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Chapter 7. Getting the Most From Your Cr... > Using a Credit Card for Cash Advance...

Using a Credit Card for Cash Advances

As mentioned earlier in the chapter, one of the things you might want to do with a credit card is get a cash advance. This can be a useful feature sometimes, but—as always—you need to understand the details in order to use cash advances wisely.

Understanding Cash Advances

Credit cards give you the option of getting cash that is, in effect, a loan against your account. There are several ways you can do this—at a bank teller, using an ATM, or with the blank checks the credit card company often sends to account holders. Be aware that the interest rate charged on cash advances is sometimes different depending on which method you use to get the cash.


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