2006-09-29 09:24:56 · 9 answers · asked by sillygoose1216 1 in Business & Finance ➔ Credit
It depends on the credit card you have. Generally it is much lower if you take out the cash at an ATM machine. However, if you go into a bank to get a cash advance it can be much higher. sometimes the banks have to call the company to authorize the cash advance transaction--but as long as you have it available to you they will allow you to withdraw it.
**be careful with cash advances though::: the interest rate is HUGE and you will be paying it back for a long time depending on the amount...I'd recommend just using it at stores if possible***
2006-09-29 09:32:29 · answer #1 · answered by vdubbchick 4 · 0⤊ 2⤋
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2016-08-10 04:47:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It means the amount of cash that you can borrow from that credit card company. If you have a $1000 cash advance limit, that means that you can borrow up to $1000 in cash from the credit card company, and then pay it back with interest later.
2006-09-29 09:30:34 · answer #3 · answered by GJneedsanswers 5 · 1⤊ 0⤋
The amount you can get at an ATM with your credit card as a "cash advance," which you then pay back with interest just like any credit card purchase. Basically, use it only if you're desperate, it's a rip-off.
2006-09-29 09:26:41 · answer #4 · answered by jonjon418 6 · 0⤊ 0⤋
The max amount of money that you can get out in cash. Be very careful, if you really don't need the cash, don't get it from the credit card. The ATM charges a fee, and there is sky high interest on the withdrawal from the credit card company.
2006-09-29 09:26:45 · answer #5 · answered by St♥rmy Skye 6 · 0⤊ 0⤋
this is the maximum amount of cash you can withdraw from an ATM and/or write a cash convenience check for. ( example; if you have a $500 cash advance credit limit, you withdraw $200 from an ATM, and write a cash convenience check for $250, you have $50 cash advance credit left.)
2006-09-29 09:30:49 · answer #6 · answered by Christopher A 3 · 0⤊ 0⤋
The maximum amount of a cash advance allowed. Cash advance is just that, they give you cash and charge it to your credit card as opposed to only using your credit to purchase items.
2006-09-29 09:26:05 · answer #7 · answered by NOIZE 4 · 0⤊ 0⤋
Listen to these folks. It is extremely expensive to use this option. Another note, the cash advance limit is not a separate limit it still takes away from your total credit limit.
2006-09-29 09:32:05 · answer #8 · answered by Andrew G 2 · 2⤊ 0⤋
vdubbchic... is inaccurate about ATM cash advances. The cash advance limit is the same as going inside the bank. The difference is the ATM has a daily withdraw limit. Use could still get cash advances totaling the same limit, just not all in one day.
2006-09-29 14:10:53 · answer #9 · answered by STEVEN F 7 · 1⤊ 0⤋
What Is Cash Advance
2016-09-29 00:52:19 · answer #10 · answered by ? 4 · 0⤊ 0⤋