What is Cash Advance APR?
Cash Advance APR is the interest rate charged for borrowing cash through a credit card, typically higher than regular purchase rates and often accompanied by additional fees.
by Sai V
Updated Oct 26, 2023
Article continues below advertisement
What is Cash Advance APR?
Cash Advance APR refers to the Annual Percentage Rate applied to cash advances made through a credit card. It represents the interest rate charged by the issuer for borrowing cash against the card's line of credit. This rate is typically higher than the standard APR for purchases and often incurs additional fees, making cash advances a costly form of borrowing.
What Are the Different Types of Cash Advances?
Here are the different types of cash advances:
- Credit Card Cash Advances
- Merchant Cash Advances (MCA)
- Payday Loans
Related Articles
Quiz Questions On Insurance and Risk Management - 3
313 days ago
Quiz Questions on Credit Management and Awareness
314 days ago
Disclaimer : The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.