cash advance
- how to read
- How to read in Japanese: cash advance
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- antonym
Cash advance is the process of borrowing cash using a credit card’s cash advance facility. The card can be used by inserting it into ATMs of banks and other affiliated financial institutions, cash dispensers of affiliated companies, and ATMs and multimedia terminals at convenience stores.
The service is available 24 hours a day, 7 days a week for immediate use, such as when you have a sudden need for cash. Repayment of borrowed cash is made in a single payment or revolving payment the following month.
It is important to note that when using a cash advance, unlike shopping, there is an interest charge, even for a single payment. Interest charges range from 15-18% per year for most credit card companies.
The maximum amount of cash advances available is determined by screening when you apply for a credit card. After application, it is possible to increase the maximum limit if you wish and pass the screening process.