Do you often make cash advances?

[Suba]

When we withdraw money from an ATM using a credit card, we call it a cash advance. The way cash advance works is no different from ATM/debit cards in general, however withdrawals on cash advance have a monthly credit card limit of 30%, so if you have a credit card with a limit of $1000 per month then the maximum cash withdrawal is only $300 per month. and this withdrawal is considered your loan to the bank which must be paid at the end of the month. Then you will be charged interest fees, transaction fees, service fees, late fees.

 

[Stardom22]

This is something that l oftenly do in my normal life. It's very helpful especially when your salaries take a very long time to arrive past the end month for sure.

 

[Augusta]

Yeah I can do this when I need money urgently abd therad no other options for me

 

[neku]

I do not take cash advances since I am frugal and withdraw money from my savings if I require funds for any emergency. I do not use debit card for cash withdrawal, I use cheques.

 

[eLdavis]

Over here having access to credit cards is not that easy. There are so many persons here who do not even know what a credit card is. That's how rare it is here.

 

[King Belieal]

Credit cards are not available in my country. Only a very select few have access to such facilities over here. We only have debit cards.

 

[kerryjoy]

I avoid cash advances because I am frugal. Instead, I withdraw money from my savings if I need funds for an emergency.

 

[Springtime]

I never make any cash advance with my credit card. I use credit card only for cashback. My credit cards are free of charge and I always pay the credit card bill on time. Nver paid any interest.

 

[Stardom22]

When l was working on the permanent basis, l considered the advance payments as debts and l really disliked that so much.

Post automatically merged: Aug 19, 2024

I had seen some colleagues that were really fans for the advance payment on the banks. These people were really broke ever for their entire work life.