- Withdrawing cash from credit card is expensive
- Bank levies various types of Charges
New Delhi : The bank allows credit card holders to withdraw cash from credit card to a limit and it is known as credit card cash advance. Withdrawing cash from credit card is like taking a loan but you do not need any kind of approval for it, although it is too heavy for your pocket, the bank imposes a variety of charges on it which is a burden for you. Many times people do not even know how many charges the bank is taking from them in exchange for this cash.
If you are also thinking of withdrawing cash through credit card, then we advise you to get complete information about the charges on it before working. Let us tell you that this is why today we will charge you for credit card cash Let’s talk about extra charges.
Advance fees have to be paid – Every time you withdraw cash on credit card, you have to pay some extra charge and it is called advance charge advance fee. This charge depends on how much money you are withdrawing through credit card Usually you have to pay from 2:50 pm to 3:00 pm.
Interest rate – When withdrawing cash from a credit card, you have to pay a maximum monthly interest of up to 4%, so by hand you pay up to 48% on it annually. This charge is different in every bank but all banks This charge is definitely taken on the credit card’s cash.
The bank also charges the finance charge (BANK) – On withdrawing cash (Cash WITHDRAWAL), the bank also charges you finance on these money and also which is equal to the advance but yes it is worth noting that the date How do you withdraw from it, till it is paid, the interest on it keeps going or there is a kind of compound interest below.
Credit Score can be bad – When you withdraw cash from the card that was saying, it affects your Cibil Score and it can affect your ability to borrow in future. If you understand, how to get out of credit card shows your bad financial condition.
