Cash Advance questions. HELP!

[churchdoesmatter]

I just took out a $700 cash advance from my credit card.. how does it work?? I needed it to fulfill my gambling desires and I lost it all. do i get charged interest the day it's taken out? i don't know whats going on. I'm in deep $hIT!

 

[SOFTWARE2ndComing]

-15/10

 

[Yossarian]

is this a parody? if not you're an idiot. cash advances generally have a higher interest rate than your regular card rate. try reading your agreement.

 

[RossMAN]

Originally posted by: churchdoesmatter
I just took out a $700 cash advance from my credit card.. how does it work?? I needed it to fulfill my gambling desires and I lost it all. do i get charged interest the day? i don't know whats going on. I'm in deep $hIT!

Yes interest is accrued the day the cash advance is requested. There is no "grace period" of 25 days.

I suggest you pay it off ASAP, usually the interest rate for cash advanced is higher than purchases.

 

[Ryan]

Yes, this is a time to go to church and pray

 

[KLin]

time go call the 800 number here.

 

[churchdoesmatter]

actually, i posted this in behalf of a friend who has a gambling problem..

 

[KLin]

Originally posted by: churchdoesmatter
actually, i posted this in behalf of a friend who has a gambling problem..

Riiiiiiight. :roll: