Fixed Income Cash Advance

Fixed Income Cash Advance

Fixed Income Cash Advance

Many consumers that are struggling with short-term financial difficulties are turning to high APR credit card cash advances to cover household bills. Statistics produced by uSwitch.com show that in excess of 700,000 people are withdrawing cash from one credit card in order to make the minimum monthly repayments on another.

What is a Credit Card Cash Advance?

A credit card cash advance is an opportunity for a consumer to borrow money against their permitted credit limit. A credit card cash advance doesn't simply extend to withdrawing money from a cash point machine, it can also be a credit card cheque or a gambling transaction. Consumers pay a high APR and various withdrawal charges for the convenience of credit card cash advances.