What is a cash advance?

Cash advance

A cash advance is cash borrowed against a credit card, at an ATM or bank. It usually has its own APR (definition, opens in a new tab), often higher than the purchase APR, plus a fee. Interest (definition, opens in a new tab) typically starts the day the cash is taken, with no grace period like purchases get.

Where does this site use it?

• What does a payday loan really cost?

Related terms

• APR (annual percentage rate)
• Payday loan

General education, not financial advice.