At a bank: With your card, you
can charge a cash advance at virtually any bank, including those
in other countries.
Through an ATM: With your card and your
personal identification number (PIN), you can request a cash advance
at an automated teller machine (ATM) anywhere around the world.
Cash advances are convenient, but they can also
be costly. Make sure you know the terms before you take a cash advance.
A cash advance is not a regular credit charge
- it is a short-term availment that you must pay back as soon as
possible. You may be required to pay a one-time transaction fee
(sometimes as much as 5% of the advance) in addition to finance
charges that start to accrue immediately. The interest for cash
advances is often higher than for purchases. That's why it is not
advisable to use a cash advance to pay for ordinary living expenses
and other non-essential expenses or to cover other credit card bills.
Part of the overall credit limit for your credit
card account includes a separate cash advance limit. These amounts
are shown on your monthly statement. At any given time, the total
of your cash advances and any interest on them cannot exceed your
cash advance limit or cause you to exceed your overall credit limit.
Many credit card companies begin adding finance
charges as soon as you take out a cash advance. You may not have
to repay the cash advance in full the first month, but if you carry
a balance, remember that you will pay for more finance charges.