Why You Should Avoid Credit Card Cash Advances

“Thinking about using your credit card for a cash advance? Let’s talk about why it’s often a financial mistake.”
“Cash advances come with high upfront fees, typically 3-5% of the amount withdrawn. And the kicker? There’s no grace period—interest starts accruing immediately, often at a rate higher than your regular APR.”
“Instead of using a credit card for cash, look into alternatives like a personal loan with a fixed interest rate or even borrowing from family or friends if it’s a short-term emergency. These options typically offer more favorable terms.”
“Avoid cash advances and keep your credit card for purchases that you can afford to pay off in full.”