Disadvantage of Credit Card Withdrawal

Being an informed credit card customer will avoid you from a cash credit card trap that will lead you to a heavy debt. Upon acknowledging important information on cash advance, a well informed customer will strain himself from using it to get an instant cash out of it though its offer are such a temptation. Such advance will cost him a great deal sum of money to repay.

Withdrawing cash advance will cost you a high upfront fee ranging from 2 to 4 % of the amount. Higher interest rates than one on the usual purchase will choke you financially. Not to mention the interest charges which are immediately mounted soon after you receive the cash out of the ATMs. These are the reason why you should think hundreds of time before withdrawing a cash advance using your credit card. Otherwise, you will only dig a deep hole of debts that is very burdensome.

Cash credit card withdrawal for emergencies is very tempting as well as helpful. Unfortunately it is very risky for us to do so due to its huge expense and the possibility to make us to have serious debt problems. Instead of using cash advance, it is better for you to consider some other alternative options such as small loan from a bank with lower interest rates, small loan from a colleague or a family member, salary advance from your employer, etc. With a careful consideration you will be able to manage your emergencies without causing you any bigger problems.