The Pros and Cons of Credit Card Cashing Explained

Credit card cashing allows you to withdraw cash directly from your credit card at an ATM or through a financial institution. Unlike regular transactions, this withdrawal is treated as a cash advance. While it’s a feature built into most credit cards, it is accompanied by specific terms, such as immediate fees and higher interest rates. Credit card cash advances account for approximately 4-6% of total credit card transactions, according to recent industry data. The average interest rate for cash advances is a whopping 24% APR, which is considerably higher than that for regular credit card purchases. Additionally, over 70% of credit cardholders are often unaware of the fees associated with cash advances, leading to unexpected debt accumulation. To get more information click here #소액결제현금화