Having a cash advance facility as a security safety net
posted on 24 October 2011 | posted in
Business and Finance
A responsible person with a good credit rating would most probably be also a financially prudent person. Persons with good credit ratings usually take good care that they don't go over their credit limit, and that they don't make use of advances very often. For these prudent few, that is one feature you would like to have on your card, but not something you would want to use. There are advantages to that instant credit facility, but the disadvantages usually outweigh them. For one, it's hard to estimate how much money you really need. Additionally, a credit card advance might show on your financial record giving you a lower credit rating.
Of course, if you really need cash, then there's nothing left to do but avail of your card's cash facility. There are other ways which do not have the above disadvantages. A cash advance against your next payslip is a secure way to have immediate cash for any emergency, at the same time the cash can be released within two days.
| |
|
|