Glossary Terms: Ongoing APR on Cash Advance

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Credit Card Applications » Glossary » Ongoing APR on Cash Advance

Ongoing APR on Cash Advance

The Annual Percentage Rate (APR) determines what you will pay in interest charges each month. The ongoing APR on cash advances is always much higher than on purchases and balance transfers, and may be as high as 35 percent. Often cash advances begin accruing interest immediately; there is no grace period. Because of this, it’s best to avoid using credit cards for cash advances except in case of emergency.

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