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| Credit Repair & Rebuilding |
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| Cash Advances | ||
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| Cash advances are convenient, but they're also expensive. If not used wisely, cash advances can cost you more than you can comfortably manage. Before you take cash advance, know what you're getting into. | ||
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| A cash advance is not a regular credit charge- it is a short-term loan that you must pay back as soon as possible. You may be required to pay a one-time transaction fee (sometimes as much as 5% of the advance) in addition to finance charges that start to accrue immediately. The APR for cash advances is often higher than for purchases. That's why you should not use a cash advance to pay ordinary living expenses, to now rather than waiting, to make a down payment, or to cover other credit card bills. | ||
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| Part of the overall credit limit for your credit card account includes a separate cash advance limit. These amounts are shown on your monthly statement. At any given time, the total of your cash advances and any interest on them cannot exceed your cash advance limit or cause you to exceed your overall credit limit. | ||
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| Your APR for cash advances may be the same as it is for card purchases or you may have a separate cash advance rate. Check your APR on your card statement or your card agreement. Many credit card companies begin adding finance charges as soon as you take a cash advance. So by the time you get your bill, you will owe more than you advanced yourself in cash. You may not have to repay the cash advance in full the first month, but if you carry a balance, more finance charges will be added. | ||
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How to get cash advances
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Consumer Debt Group, Inc. does not provide any legal representation. Consumer Debt Group, Inc. deals with licensed attorneys and our affiliated law firm has attorneys throughout the nation who are credit card debt settlement specialists.
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