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Cash Advance

Definition of 'Cash Advance'

A cash advance enables most credit card users to withdraw cash, either through an ATM or over the counter at a bank, up to a set limit.

Getting a cash advance from attracts a higher rate of interest, which is charged from the day the money is withdrawn, so use cash advances only for real emergencies if you can.

When using your credit card abroad for a cash advance, in addition to the extra fees and earlier interest that this will invoke, in most cases you will also be charge a foreign exchange fee of around 3%.

Also be aware that if you buy traveller’s cheques, foreign currency, or use your card for gambling purposes, your credit card company will treat the transaction as a cash advance.

Use the links below to locate the term you are looking for. If you can't locate it, please get in touch.

Credit Jargon Starting 'G'

Credit Jargon Starting 'I'

Credit Jargon Starting 'J'

Credit Jargon Starting 'L'

Credit Jargon Starting 'M'

Credit Jargon Starting 'S'

Credit Jargon Starting 'T'

Credit Jargon Starting 'V'

Credit Jargon Starting 'W'

Accepted Payment Methods: VISA and MasterCard

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