What is a cash advance APR?

A cash advance APR is the Annual Percentage Rate (APR) for making a cash advance with a credit card in the state of Washington. This rate is the cost of borrowing money from a lender, expressed as a percentage of the total amount borrowed. The cash advance APR is typically higher than the APR for purchases and other transactions made with a credit card. The cash advance APR may also have different rules for calculating interest, such as beginning to accrue immediately upon the cash advance, or after a set period of time. The interest rate for a cash advance APR in Washington is typically higher than the interest rate set by the Credit Card Law. Credit card issuers may also add additional fees on top of the APR, such as a fee for making a cash advance. Therefore, the total cost of a cash advance may be higher than the interest rate alone. It is important to be aware of the terms and conditions of any credit card issuing company and the cash advance APR before making a cash advance. It is also important to pay off the cash advance quickly, as the cash advance APR may be higher than other purchases made with the card. Additionally, some companies may offer a lower interest rate on cash advances if the advance is paid off in a certain amount of time, so be sure to check the terms of the credit card before making a cash advance.

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