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To get a cash advance you may go to any bank that accepts your credit card and present your picture identification along with the credit card you are using, to the teller. The teller will fill out the authorization form and run your credit card through the terminal. The system will be able to determine if you are eligible for the advance. If you are past due on the credit card or you have exceeded your credit limit, your request will be denied. If you are denied, the bank will not be able to tell you why. They will suggest that you call the phone number on the back of your credit card. If you are approved, your credit card company will charge you a fee of three percent of the cash advance. The interest rate you receive will be the highest rate available depending on your credit card company. Normally it will be in the range of 20 percent to 25 percent. The fee will be added to your account balance and it will not come out of your cash advance. You do not have to be a customer of the bank in order to get a cash advance, but that bank may limit the amount you receive to $1,500 or $2,500. If you are a customer of that bank, the only limits imposed will be those of your credit card company.


You can also go to an ATM machine and get a cash advance by sliding your credit card into the slot and then keying in your pin number. Normally the amount you receive will be limited to $500 or less and there will be an ATM fee from that bank of $1.50 to $3. It will vary from bank to bank. The rate you receive will be the highest rate available for your credit card and it will usually be in the area of 20

percent to 25 percent.


When you make a purchase at a retail outlet such as a department store or grocery store, you can receive cash back in the amount of $200 per day. The cash limit per day will vary from retail outlet to retail outlet. It does not matter what size your purchase is. You can still get the cash amount per day. There is no fee for this type of cash advance, nor will this balance be subject to an interest rate, but you will be subject to the daily cash limit and you must make a purchase. Even though you are receiving a cash advance, this transaction will be considered a purchase, because your initial transaction was a purchase.


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