Cash Advances

A credit card cash advance allows a consumer to withdraw cash from an ATM, or write a credit check, up to
their credit limit. This type of borrowing carries a slightly higher interest rate than normal charge balances,
often up to 25% APR, while normal charges usually command an APR of around 15-17%. Along with this
type of borrowing are fees, usually of several percent of the total amount of the advance, or sometimes a
flat fee.

There is no grace period applied to cash advances such as with normal charge balances. Instead, the 
interest begins to accumulate immediately in the case of a cash advance.