A cash advance on a credit card is a short-term loan that allows you to withdraw cash from your credit card account. Essentially, you are borrowing against your credit card to put cash in your pocket. You can get a cash advance in several ways, including withdrawing cash using your credit card at an ATM, bank, or by using special checks. Some credit card companies also send customers checks in the mail, which are linked to their account. If you deposit these checks, the transaction is considered a form of cash advance, which subjects you to the cash advance APR and transaction fees.

Cash advances can be a quick way to get cash, but they come with fees and risks to consider. Cash advances generally have a transaction fee and a higher annual percentage rate (APR) than standard credit card purchases. Unlike standard credit card purchases, which offer a grace period between the purchase and the payment due date when interest kicks in, a cash advance starts accruing interest right away. Cash advances can be an important source of funds in an emergency, but its important to consider all your options given the costs.