What is a cash advance fee?
What is the fee for a cash advance?
If you use a credit card for a cash advance, you can expect to pay an APR around 24 percent, nearly 10 points higher than the average credit card APR. But you’re not done. You can also expect an upfront fee of 5 percent of the amount of cash you withdraw.
Using a credit card to get a quick cash advance is an expensive way to get cash in hand. But taking out a cash advance loan from a payday loan storefront is even worse. Payday loans disguised as cash advances charge an average APR of 400%. And, you guessed it, you could also be charged upfront fees. If you fail to repay the loan on time, you could also find yourself penalized with late fees (not to mention the risk of accruing NSF fees from your own bank).
If you need quick cash, choose a more secure and reliable method. Apply now for a highly rated installment loan or credit product that could help you build your credit history.
Apply now for a highly rated installment loan or credit product that could help you build your credit history.