Credit Card Cash advance Finance Charge
None of us are strangers to the convenience of having a credit card. There even different types of credit cards that you can use for different purposes. A lot of US citizens would usually have more than one credit card for their different needs. As convenient as it may be, you may have to pay for some charges.
When you get your bill, you might even be puzzled to the total that you have to pay for the month. One of the breakdowns involves cash advance finance charge, and this article will shed light on what it is all about.
What is cash advance finance charge?
What about the grace period?
How do I not get a cash advance finance charge?
If you already have a credit card and already having a cash advance finance charge, then you should make sure that you can commit in clearing your credit balance for the month and quickly be able to pay the charge. Make it a point to not always use your credit card for small transactions that you can pay for with your regular salary. Credit cards should always be only used for extreme emergencies, because otherwise you will be caught up in a vicious cycle of debt.
Start trying to save up your salary to cover your usual bills. Stretch out your finances to cover your expenses in the span of one month and compute things that you can do without. In this way you can always be sure to cover your bills without the need of using your credit card too much. In this way, you can get more money in the bank and at the same time be able to get out of the debt cycle.
Check on your credit card company’s annual percentage rate regarding their interests because they can fluctuate, depending on the company. Usually your credit card bill would come in with little leaflets to announce these changes in the company. Make it a habit to always read everything that you get in the mail, because it might just help you from overshooting your expenses when you really need to balance out your money for the month.
ConclusionCash advance finance charge doesn’t always have to be a big problem, so long as you just keep yourself in check with what you purchase online or what you use your credit card for. There are a lot of ways for you to avoid the pitfalls of getting into a lot of debt and you must take extra care when you need to spend on something big. Read the fine print, keep yourself updated with the interest rates of your credit card’s company and you would probably get to avoid majority of the problems most people get from owning a credit card.