Say NO to Cash Advances

First Published Date: May 30, 2015

As I am writing my next book Credit Card Hacks: What Credit Card Companies Don’t Want You to Know, I would like to share some points I just finished writing about cash advances. This is a feature your credit cards offer that should be avoided at any cost and here is why.

Want to be the most popular person at your credit card companies? Taking out cash using the cash advance feature will definitely do the job. Credit card companies make the most money when you take out cash advances. The interest charge starts the moment you take out cash at 22 to 30 percent, or at even higher rates. And then in addition to that, you will be forced to pay another 1 to 3 percent cash advance fee.

And there is more. What your credit card companies don’t want you to know is that you could still be paying interest on cash advances, even if you have paid the full cash advance amount you took out, if your credit card has balances – even a single dollar. So it is possible you may be paying high interest on something you thought paid off.

So, how you can stop paying high interest charges? You have to bring down your balance to zero. But there is more to it and topics like this and much more will be revealed in my next book Credit Card Hacks: What Credit Card Companies Don’t Want You to Know. Currently I am finishing up its last two chapters and expecting to be published on the Amazon Kindle platform in the next 3 to 4 months.

Keep an eye on A Dawn Journal, as I will keep you posted with any updates as I continue working on it.

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