What is a cash advance APR?

A cash advance APR is the annual percentage rate (APR) that applies to cash advances taken with a credit card account in Texas. It is important to understand that this cash advance APR is different from the APR associated with purchases made with a credit card. The cash advance APR is always higher than the purchase APR. The cash advance APR in Texas is regulated by the Office of Consumer Credit Commissioner. Texas law requires that the APR on cash advances must be disclosed in all credit card agreements. The cash advance APR is typically higher than the purchase APR, so it is important to understand how cash advances will affect the total cost of a credit card account. Under Texas law, credit card issuers are also allowed to charge an additional fee for cash advances. This fee is a percentage of the amount of cash withdrawn, usually between 3% and 5%. The fee is in addition to the cash advance APR charged on the amount. In summary, a cash advance APR is the annual percentage rate that applies when you take out a cash advance on a credit card account in Texas. It is important to understand the cash advance APR and any associated fee in order to calculate the total cost of a credit card account.

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What is a cash advance APR?

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