Cash Advance
A loan taken out against a line of credit or credit card, typically imposing higher-than-normal interest charges.
Investopedia Says: Often the interest charged on these loans is a fixed number of percentage points above the prime rate. Additionally, there is seldom a grace period in which no interest is charged. These two factors make cash advances more expensive than many other types of debt financing.
What's the mesning of 'the cash advance' in the sentence"The cash advance rate is usually 3 percent"? thank you[/size].
Stumble It!
Tweet This
Bookmark on Delicious
Share on Facebook
Share on MySpace