Cash Advancements

Most credit cards have a credit limit to prevent you from over-borrowing and to prevent people from taking out cash advances. Cash advances have their interest and fees so it should be a short-term solution. There are various cases like advances offered by your credit card or your future payment from, your employer. They are all meant to be short-term as the additional fees start to add up due to an 18% to 30% APR. They also don’t have a grace period, interest accrued from day 1 to get people trapped into renewing it every month. There are a lot better alternatives if you need money like a personal loan or paying with a credit card with a significantly less interest rate.