Advantages and Disadvantages of Credit Card Cash Advances

Credit cards have become a ubiquitous form of payment for goods and services. However, some people may encounter situations where they may need cash in an emergency. This situation can be tricky, especially when you don’t have any cash on hand, and you need to pay for something urgently. A solution to this problem is credit card cashing. This blog post will delve into the basics of understanding Credit card cashing (신용카드현금화).

Credit card cashing is when you use your credit card to withdraw cash from an ATM. It’s an easy process; all you have to do is insert your credit card into an ATM of your bank or a bank affiliated with your card issuer. The cash you withdraw will be added to your credit card balance. Since credit card cash advances can come with high-interest rates than the standard purchase interest rate, you'll want to consider the option carefully before using it as a default payment method.