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When you borrow money on a credit card, it's called a cash advance. A cash advance is when you use your credit card to get cash from an ATM or bank teller, or to transfer money to your bank account. Cash advances usually have higher interest rates than regular purchases, and they may also have fees associated with them. It's important to read the terms and conditions of your credit card agreement to understand the interest rates and fees associated with cash advances.
Geraldine Sebetso
Wiki User
∙ 6y agoThat's called a 'cash advance'.
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What is the maximum you can borrow on your credit card called?
Your credit limit.
Why would you need a credit card if you are not working?
you will need a credit card if your not working because you have no money so you use a credit card to borrow money from the bank.The disadvy :(antage of that is that later you have to pay :(
Does debit card build credit?
A debit card is a card that takes money straight out of the bank, however, a credit card lets you borrow money, but you must pay interest. So, a debit card does not build credit.
Which of these is one way that credit cands differ from debit cands?
Credit cards allow you to borrow money from the card issuer. A debit card requires you deposit money with the card issuer, and the money is then deducted at the time of the transaction from the amount deposited.
What credit card features would be best for customers who think they might need to use their credit card to borrow money?
No fees for cash advances
What is the maximum you can borrow on your credit card called?
Your credit limit.
Should I get a credit card to borrow money?
No, it is never a good idea to apply for credit card to borrow money because you are just adding on to your debt. If you are unable to pay back the money that you used on your credit card, it will be deemed as overdue, and you will have to pay extra interest, or an extra fee or charge.
Why would you need a credit card if you are not working?
you will need a credit card if your not working because you have no money so you use a credit card to borrow money from the bank.The disadvy :(antage of that is that later you have to pay :(
Does debit card build credit?
A debit card is a card that takes money straight out of the bank, however, a credit card lets you borrow money, but you must pay interest. So, a debit card does not build credit.
Which of these is one way that credit cands differ from debit cands?
Credit cards allow you to borrow money from the card issuer. A debit card requires you deposit money with the card issuer, and the money is then deducted at the time of the transaction from the amount deposited.
Which of these credit card features would be best for customers who think they might need to use their credit card to borrow money?
no fees for cash advances
What credit card features would be best for customers who think they might need to use their credit card to borrow money?
No fees for cash advances
What is the difference between a debt card and a credit card?
The diffference between a debt card and a credit card is ,in a debt card it's money from your account .In a credit card is when you borrow money from the bank.
What is the meaning of 'to max out' a credit card?
You use up all of your available line of credit and you don't have any money left to borrow.
I am a corporate secretary and the company that i work gave me a credit card and told me i can use it now they want their money back?
Credit cards borrow money, so if you've used the card, then you owe the company that money back.
How do you get business credit cards with bad credit?
If you don't need to borrow money but need the credit card for buying things online you could get one of the prepay cards. You load money onto it and then you can use it like a credit card for purchasing. There are also secured credit card options for those who have credit issues
What is a debit card?
A debit card takes the money out of an existing account. A credit card, on the other hand, allows you to borrow money (which must be repaid) by paying someone (the loan) directly.
