If you have a credit card – a cash advance is an option cardholders can use to borrow actual currency against your balance.
WARNING: Make sure you know what you are signing up for whe you get a cash advance. Often there is high interest rates associated with these typoes of loans. You should always be careful getting a cash advance on your card as you need to make sure you can make the payments back.
Statements issued by the bank will generally provide two sets of numbers: the credit limit and the cash advance limit.
Cash Advances can be very useful in an emergency. If you are in a situation that is not an emergency, make sure you try every other alternative before you go for the cash advance.
Other alternatives might be;
– Borrowing Money from friends or family
– Getting a second job
– Finding ways to make easy cash
– Trying to make money Online.
Ensure you do your budget before you get the cash advance as this will give you a picture of your financial situation.
Lastly – ask a friend or relative for advice before signing anything.