Cash Advance
A loan taken out against a line of credit or credit card, typically imposing higher-than-normal interest charges. Investopedia Says:
Often the interest charged on these loans is a fixed number of percentage points above the prime rate. Additionally, there is seldom a grace period in which no interest is charged. These two factors make cash advances more expensive than many other types of debt financing. Related Terms:
Cash Trigger
Credit
Credit Card
Interest
Line of Credit
Loan
Open End Credit
Revolving Credit |