How much is the Citibank cash advance fee?

You can get cash from a credit card through rewards redemption or by doing a cash advance. Rewards are the better option because they actually save you money. Cash advances have very high fees and interest, so they’re more of a last resort than anything else. If you do get one, you’ll want to pay it back as quickly as possible.

Here’s how to get cash from a credit card:

• Earn and...

Cash advances typically cost around 3.85% of the withdrawn amount. A cash advance fee is usually applied every time you use your credit card to get a cash advance.

In addition to expensive cash advance fees, there is also a high cash advance APR (24.22%, on average). From the moment you withdraw the money, your credit card company will immediately begin charging you interest. Note that the charges will continue to mount until you pay...

Taking out a cash advance has no direct impact on your credit or credit score unless this operation leads to a credit utilization of more than 30-40%.

Just remember that cash advances are very expensive, ultimately causing you to pay much more money ( through fees and interest rates) than you initially withdraw.