Cash advance on credit card?
Question:
I need to get $2000 of my card(daily spending limit is $3000 and withdrawal is $400)
anyone know if I can do a cash advance of $200 on my card? its an emergency
thanks
Answer:
call your credit card company or just go to the bank and try it
If you're concerned with interest rates and have more than one credit cards, use the one with the lowest APR (rate). Cash advance fees vary from card to card. Interest is usually acrued daily from the moment a cash advance is taken out. There's no grace period for cash advances that I'm aware of. Therefore, it's best to pay it off or down as soon as possible to avoid charges.
If you worry about your credit score, use the card with the highest available limit to avoid dinging your score due to high utilization. Keep balance to available credit under 30%, if possible. This can be achieved by spreading the advance over 2-3 cards.
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