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Mon 26 Jun, 2006 06:22 am
What is the meaning of "the cash advance rate is usually 3 percent"?
If you're getting a cash advance, like from your credit card, you will have to pay an extra 3 percent (3%) of how much you are asking for.
For instance, if you wanted $1,000.00, you would have to pay a fee of $30.00.
Then, you'd also have to pay back the $1,000.00, with interest attached to that also.