March 22, 2013
You should never access funds from an ATM using a credit card. Why?
You should never access funds from an ATM using a credit card. Why?
Because when you access funds from an ATM using a credit card, it is called a cash advance and the interest rate on cash advances is OUTRAGEOUS!
And if I remember correctly, the interest starts immediately on cash advances.
You got that right, Katherine. Sticking that credit card in the ATM will get you money that is designated as a cash advance. It will be posted to your account immediately which means interest will be charged to the amount received as soon as the green stuff touches your hands. Paying 20% or so on borrowed money will take you to the poor house quickly. Listen to Katherine. it is OUTRAGEOUS and you should NEVER do it!
I went to tons of links boefre this, what was I thinking?
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