Can you pay off cash advance only and not entire card balance?
melissa_cmm asked:
I recently got a cash advance off of a credit card. I now have the money to pay off the cash advance. Can I just pay off the cash advance amount so I am not getting that high interest rate or would I just be actually putting the amount towards my total balance?? Thanks
No. Usually when I make a payment to the creditors, they take away the amount from my balance first before the cash advance payments.
You will put the amount towards the total balance but what you should do is to payoff the card.
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not usually. most card contracts have a covenant that payments are applied to the balances with the lowest interest rates first.
so just pay off the entire thing. there's no reason to carry a balance at all.