Cash Advance (credit card)

Cash Advance (credit card): Definition:
A credit card issuer may allow the cardholder to obtain cash using their card, usually at an ATM, and it will also specify in the cardholder agreement the interest rate that will be charged on the transaction, which is generally higher than that used for regular purchases. The rates are higher and the terms are generally more restrictive since it is more profitable for the card issuer to process your purchases than for them to be conducted in cash at the same interest rate.

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