Need to make an extra-curricular cash expense, but don’t quite have the money to do it? Getting a cash advance could be an effective solution.
A cash advance, or a ‘cash loan’, is a sum of money you can use to make a short-term expense. Your bank or lending institution can provide you with different kinds of cash advance – from smaller ATM withdrawals with your credit card, to cash equivalents such as the purchase of gambling chips or lotto tickets, or thousands of dollars from an overdraft facility.
A cash advance works like any other advance payment, and obtaining a cash advance typically involves very little time. Most banks, credit card and charge card issuers deal in cash advances by request. The application process is usually online and hassle-free – much like getting an instant approval card.
Depending on your lender, you might need to undergo a credit check or employment verification. If you have a bad credit history, you can address a lender who doesn’t carry out credit checks. It is crucial to remember that cash advances always attract interest – regardless of whether you have interest-free periods on your credit card account.
Your cash advance facility may offer you the fastest money when you need it, however it’s worth checking against the below questions beforehand:
If you decide to get a cash advance, it is best to shop around as cash advance fees differ between lenders.