Cash Advance as the Fastest Way to Cash

Most people got accustomed to use credit or debit cards in daily life. But very often things happen when you need cash and no card can help you. Let’s say you are going to visit a veterinary clinic with your dog and, of course, need to pay for the consultancy of a veterinarian. But you know that credit cards are not accepted at the place. So, you should think about payment beforehand. What to do? Credit card companies and banks know about these sudden needs of the consumers and offer credit cards with the cash advance option. It allows the cardholder to convert some percentage of the credit limit to cash money. Therefore those, who need cash as soon as possible and have a credit card, can use the option of cash advance to their advantage because it is one of the fastest ways of getting money. Cash advance is taken out on your plastic or credit limit and can be a half of it or even more. You can get cash in the nearest affiliated ATM, write special checks for cash advance, or go directly to the bank or credit company and present your card in person. What way of getting cash suits you the most is for you to decide. The cash advance option is really a good way of getting cash but expensive. Before applying for cash, spend some time to count all the charges in order to know for sure whether or not cash advance option is beyond your purse because it includes cash advance fee, have no grace period, and higher interest rate in comparison with purchases. As for a cash advance fee, it is a fee that you pay the bank for using the plastic to get cash money. The fee can be deducted from the cash advance at the time of money withdrawal. Or, you may receive a bill with cash advance fee involved. Unfortunately, there is no grace period feature relating to the cash advance option. So, you have to start paying interest right after you get the cash and continue until the cash advance is paid up. Interest rate is one of the most important features that we first pay attention to and wish it to be as lower as possible. In case of cash advance, interest is higher than the one on purchases. Most credit issuers apply your payments first to purchases and only then to cash advance. And you will make payments for many years in order to pay up the cash advance, if you pay only the minimum monthly Moreover, if you are going abroad and wish to be sure that you may apply for cash advance when needed there, learn whether or not your bank offers you such opportunity or you can only apply for cash in-town. As you see, cash advance credit cards are usually accompanied with no free period, high rates and fees and have only several advantages. All these facts can paint a sad picture with just a few rays of light but still it has benefits and is one of the most alluring options in times of cash needs. About the Author Working as a financial expert, Emily Goldstone writes the articles on how to achieve financial and business success, about credit card dangers and its attractiveness, etc. She knows how to keep the finance stable and choose credit card offers reasonably.

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