Cash Advance

Cash AdvanceCash Advance
ilbon777 asked 4 years ago

So I know that cash advances on your card dont have a grace period for interest like purchases do.  But i dont understand how the interest is calculated for them.  I did take a $ 20 cash advance out on my $ 300 limit card and was wondering how the advance is factored and billed.

 

For instance, lets say my $ 300 limit card already had purchases on totaling $ 100 and then I took the $ 20 cash advance. Then lets say I made a payment 5 days later for Then lets say I put another $ 50 in purchases after I took the advance.  Now lets say I paid the balance down to $ 30 and my statement closes for the month, how does the advance get charged? 

I guess what I’ tyring to say is that from the total of purchases and advance for the month would be $ 170 with a $ 140 payent being made. And technically since the advance was made before the $ 50 in purchases, would the payment pay off the advance leaving the remaining $ 30 balance in purchases and not incurring interest daily.

Register New Account
Reset Password