Cash advance fee
Cards & borrowingA fee charged when you withdraw cash using a credit card.
Overview
Cash advances are usually expensive and accrue interest immediately.
The fee is often a percentage of the amount withdrawn.
Why it matters
- It increases the cost of borrowing.
- It can quickly raise balances and utilisation.
- It can be hard to repay due to high interest.
FAQs
Is a cash advance ever a good idea?
It is usually expensive. Consider alternatives if possible.
Does it affect my credit score?
High balances can increase utilisation and lower scores.
Related terms
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