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Glossary Of Terms
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Our Glossary features an extensive collection
of credit card related terms. If you cannot find a term you're looking
for, please e-mail us at glossary@credit-land.com.
We will respond to you with full explanation of the term. Upon further
review, we'll consider adding it to our website. |
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Cash Advance |
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Cash can be withdrawn (borrowed) from your available credit card account. Typically this is done by using your credit card at an Automated Teller Machine (ATM) or a bank. The interest rate is often significantly higher on cash advances than it is on purchases or balance transfers. In addition, there is usually no Grace Period for cash advances and a transaction fee of 3% with $5 minimum and no maximum is often charged. In most cases, that makes the cost of using a credit card for cash advances too high. We do not recommend getting cash from your credit card and do it only if absolutely necessary in case of an emergency.
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