Credit Card Cash Advance

Credit Card Cash Advance?

i have a capital one credit card.
and i’m curious to know.
is the “credit line for cash” separate or included in your “total credit line”
and how does the credit line for cash work?

It is part of the total of your credit line. Example a 5000 credit line is the total amount you can bowwow. The cash advance line of say 1000 once used is subtracted from your total credit line. So a 1000 cash advace plus all the fees would leave you with about a 3960 line of credit left on the card if you started with a zero balance being caried over.

I would not use the cash advance option. Once you use it you will incure interest charges from the second you take the advance. There is no grace period for cash advances. Also there is a cash advance fee of usually 3 percent of the amount borrowed upfront. Cash advances also carry an extremely high interest rate of over 20 percent. Dont do them. If your card has a cash advance on it then you buy something and make a payment the payment is applied to the LOWER INTEREST RATE PURCHASE FIRST. This is the credit card trap. The highest interest rate is applied last and therefore you pay more in service charges.

Avoid cash advances at all costs.

Credit Card Cash Advance

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