Cash advances. Regardless of your terms, you almost never get a grace period
for cash advances, which means you begin paying interest on them right away.
Adding insult to injury, the interest rates on cash advances are typically
higher than the ordinary rate on card purchases. You may be tempted to put your
credit card in the ATM and get cash, but it's very expensive. Interest rates on
cash advances can climb as high as 30 percent, similar to the fees assessed
after a late payment.
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