What is a "cash advance"?

What is a "cash advance"?

Mitchell Freedman, CPA/PFS (CEO, MFAC Financial Advisors) gives expert video advice on: How can I get a lower interest rate or APR on my current card?; What if I pay my credit card bill late?; What if my credit card is lost or stolen? and more...

Many credit cards provide the holder with the opportunity to borrow from the line of credit that's available to them and to take a loan. It's important that the credit card holder understand that the interest rate that's going to be charged may be different, possibly higher, than it would be on ordinary purchases, and there may be a transaction cost associated with the loan as well.