Why are there two different interest rates for cash advance and credit card purchases ?

Josh
Posts: 16
 Joined: 2007-05-16

Why are there two different interest rates for cash advance and credit card purchases ?

‹ I live in the US; can I use my credit card out of the country for purchases ? How is the interest calculated on a credit card ? ›

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Submitted by Josh on Sat, 2007-05-19 18:59. quote

admin
Posts: 69
 Joined: 2007-05-11
Re: Why are there two different interest rates for cash advance

As a service to you, the credit card company allows you to receive so much money from a credit card so you have some cash. Although this not the business they are in, they offer it for a higher interest rate, because you are receiving cash to spend as you wish.


Sat, 2007-05-19 19:02 reply | quote

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