When it comes to credit cards, interest and annual percentage rate (APR) are often the same thing. It could be taken out of the cash advance when you receive it or posted to your credit card bill. Depending on your issuer, it can be a percentage of the cash advance amount or a flat fee. What is a cash advance fee?Ī cash advance fee is basically a service charge from your credit card issuer.

But keep in mind that there are typically fees associated with a cash advance. You can check your credit card account terms for specifics or contact your issuer. The cost of a cash advance depends on a number of factors.

Other transactions may be considered cash advances, including using your credit card to transfer money to friends using apps such as PayPal, Venmo or MoneyGram, using your credit card to pay down debts like car loans, and exchanging dollars for foreign currency.

There are multiple ways to get money through cash advances, including at banks, at ATMs or by using special checks.

Cash advances may have higher interest rates than typical credit card purchases do, and there may be additional fees associated with cash advances.

Cash advances allow cardholders to borrow money against their existing credit lines.

Read on to learn more about how a cash advance on a credit card works, how much it may cost and whether there’s an alternative that could be better for you.

If there’s no other way to get it, you might consider withdrawing cash using your credit card. Sometimes you may find yourself in a situation-maybe even an emergency-where you need cash.

Quasi cash