What is a cash advance APR?

A cash advance APR is the interest rate charged when you take out cash using a credit card in Florida. This rate is typically much higher than the purchase APR, which is imposed when you make purchases on a credit card. For example, a cash advance APR in Florida can be as high as 29.99%. It is important to understand the differences between cash advance APR and purchase APR so you can make an informed decision when using your credit card. When taking out a cash advance, there are additional fees associated with the transaction beyond the interest, including a cash advance fee, a foreign transaction fee, and a late fee. Most credit cards in Florida have a minimum amount you can withdraw as a cash advance. The fees and interest on a cash advance can add up quickly, so it is important to consider if a cash advance is necessary before deciding to do so. You should also plan on paying off the balance as soon as possible to avoid paying a large amount of interest. Finally, it is important to consider your credit score when taking out a cash advance on a credit card. If you do not pay off the balance in full and on time, you can hurt your credit score. Understanding the terms and conditions of a cash advance is essential before making this kind of transaction.

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What is a cash advance APR?

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