How do you do a cash advance from a credit card?
varys01 asked:
Exactly how do you get a credit cards cash advance? I know you go to the ATM, but I don't have a pin number to use.
5 Responses to “How do you do a cash advance from a credit card?”
If you don't have a PIN number for your CC, contact Customer Service and have one assigned.
Remember that CC cash advances generally have fees attached; be sure to ask what they are. CC cash advances are not the same as taking out money with your ATM card.
Just call the bank and ask if you go to the teller, do you need a pin # to withdraw the funds.
Just to let you know, with a cash advance you get charged interest immediately.
You do not get the 25 day grace period.
Also cash advances carry an interest rate that is about double of regular interest rate on your card.
Also, when paying the minimum, it will apply to the lower interest items. When those are paid, then it will pay the cash advance interest fees.
/
varys01, Try finding other methods to get the cash first. Payday loan companies offer a great service, but it's not something just anyone should get invovled with. If you do take a loan, pay it back quickly.
Be very careful if you go to a payday loan company. The charge huge amounts of interest and it is very easy to get stuck in a cycle of renewing your loan every month just to make ends meet. Look at this site
I'd say it it is better to get a cash advance from your card once than it is to get stuck in a cycle of borrowing at very high interest rats.