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What is the definition of a cash advance on a credit card?

April 26, 2017cash advance credit card definition

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Posted

What is the definition of a cash advance on a credit card?

2 Answers

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Mary Green Posted

A cash advance on a credit card is when the owner of the card takes cash off the card, instead of using the credit to make a purchase. Generally there is a higher interest rate for these advances.

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Posted

A cash advance is when you borrow cash against your credit card. When you borrow cash you will usually pay a much higher interest rate than you would for purchases.