What is a cash advance APR?

A cash advance APR is the Annual Percentage Rate (APR) associated with taking out a cash advance with a credit card. In Oregon, these rates are regulated by the Oregon Division of Financial Regulation, which is part of the Department of Consumer and Business Services. The cash advance APR is typically higher than the regular APR charged for purchases, so it is important to be aware of these rates before taking out a cash advance. In Oregon, the cash advance APR is capped at 28% for most credit cards. This means that if you take out a cash advance with your credit card, you will not be charged more than 28% interest on the amount borrowed. This rate is applicable to all cash advances in Oregon, regardless of the type of credit card used. Additionally, the law requires credit card companies to clearly disclose the cash advance rate prior to issuing a card, so you should always read and understand the terms and conditions before using your card. Knowing the cash advance APR can help you make informed decisions about how to use your credit card responsibly.

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What is a cash advance APR?

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