Resolved Question

I want a credit card which i can take out cash amount out?

any one know the best card for me to have ,, its my 1st card and i have good credit but dont want fees every month any ideas
im going to take 1000 out and pay it back with in 6 months

Best Answer - Chosen by Asker

All credit cards that I have ever had have allowed cash advances. In addition to what the other person said: they typically have a fee in addition to the interest for using this service, interest starts on day 1 where as with most credit cards the purchase is interest free for 1 month (a month to a credit card is often 25 days), and the interest is higher than the credit cards normal rate.

You would be a lot better off, doing something extra to make the money and waiting until you can pay cash.

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Other Answers (2)

• If you do not have a credit card yet, you cannot have a good credit rating. Credit has to be earned and demonstrated by making payments on time, using credit responsibly, etc.
  
  In the world of credit cards, a cash advance is an option cardholders can use to borrow actual currency against their current balances. For most credit card users, the amount of cash available for a cash advance is a small percentage of their overall credit limit. Statements issued by the bank will generally provide two sets of numbers: the credit limit and the cash advance limit. You currently have no credit. You are not likely to get a credit card with a large credit line.
  
  Using a cash advance option can prove to be expensive, so it's always best to explore other payment methods before incurring more debt. Any money gained through a cash advance will be added to the balance owed to the bank, which includes interest payments and other finance charges. Interest on some unsecured credit cards can reach 23% at times, which can quickly swallow up any benefits of a cash advance. This is why consumers should only borrow enough cash to resolve their financial obligation and make a sincere effort to pay back any cash advance quickly.
  
  Many consumers are unaware that every time they use their credit cards to withdraw cash, extra fees kick in:
  
  Cash advances carry an upfront fee of 2 percent to 4 percent of the amount advanced.
  
  They have a higher interest rate than regular card charges.
  
  They carry no grace period; interest charges begin to mount as soon as the money spits out of the ATM.
  
  Many issuers also require you to pay down the balances for purchases before you pay down the higher-interest cash advance balance.
  
  "Using cash advances is like borrowing money when you can't afford it," says Steve Rhode, president and co-founder of Myvesta.org, a nonprofit group providing help for difficult financial problems. "You're setting yourself up for failure. It's convenient, and people don't care about the fees associated with it."
  
  The fees and charges applied to cash advances are not hidden fees. By law, card issuers are required to disclose information about fees and charges associated with all of their services. This information is typically displayed on the back of the solicitation form and on the monthly statements.

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• That's called a cash advance. The interest rate is very, very high. The credit card companies have put the mob out of work.