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Anonymous Posted 20 years ago
Vocabulary

the cash advance

What's the meaning of "the cash advance" in the sentence "The cash advance rate is usually 3 percent?" Thank you very much.
  

Top answer

" A little context would be helpful. However, a cash advance' usually means that you receive money that you are entitled to, but earlier than normal. eg 'I asked my boss for a cash advance on my pay'.

— Clive

  • " A little context would be helpful.
  • However, a cash advance' usually means that you receive money that you are entitled to, but earlier than normal.
  • eg 'I asked my boss for a cash advance on my pay'.
  • Normally in such cases, interest would not be charged.
  • Because interst is mentioned here, it sounds more like a loan than a real advance.
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2 Answers
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Hi,

What's the meaning of "the cash advance" in the sentence "The cash advance rate is usually 3 percent?" A little context would be helpful. However, a cash advance' usually means that you receive money that you are entitled to, but earlier than normal. eg 'I asked my boss for a cash advance on my pay'.

Normally in such cases, interest would not be
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It might well be about credit cards.

When using them for buying things, you will be charged a given rate of interest. Those transactions are purchases.

However, when using them for getting cash from banking machines, you might be charged extra, or a different rate of interest. Those transactions are cash advances.
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