Have you tried using the credit card feature called cash advance? If you have a credit card that allows you to cash advance then you may have wondered how to do a cash advance on a credit card. Cash advance is a feature wherein credit card companies allow their users to get credit in the form of cash, not just credit by purchasing products using the card.
Credit card cash advance versus purchase are actually two different things. Cash advance is withdrawing cash from your available credit or credit that is left in the card and then using cash to buy all sorts of things. Using purchase means that you actually use the card to buy stuff from an actual store or online store that accepts your particular brand of credit card.
Credit card cash advance versus balance transfers are also different things. A Balance transfer is transferring the credit amount or the remaining credit balance from the card to another card to pay for bills. Usually this is done to help pay off the balance of the card with the lowest interest. Balance transfers may or may not have a fee. You should check this information out from customer service of your credit card.
Credit card cash advance versus personal loan are still two different things. A personal loan is a type of loan that is offered by a bank or a lending agency to its members. Usually personal loans need an accomplished application form as well as a duly accomplished application letter and other financial requirements needed by the bank or financial agency. In processing cash advance through credit card, the card owner merely uses and ATM to process this transaction. It takes a few minutes for cash advances to be processed while processing a personal loan could take weeks. The process may take faster when you have all the requirements on hand.
Credit card transfers are done either through a bank teller or through an ATM. You may also want to enroll your cash advance credit card in an online site of your credit card brand or company so you will be able to learn more about cash advance especially the fees that come with your transaction. The more you use your credit card the more you will learn to understand its features. You should strive more and learn more about your options as a credit card user so you will be able to maximize the use of your card.