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Withdrawing cash using a credit card is one of the costliest financial mistakes you can make! why you should avoid it at all costs: Why You Should Never Withdraw Cash with a Credit Card. Key Points on Credit Card Cash Withdrawals
Example:
Pros of Withdraw Cash with a Credit Card: Cash Advance Feature Allows us to withdraw cash from ATMs using a credit card but comes with high fees and interest rates.
Cons of Withdraw Cash with a Credit Card:
Frequent cash withdrawals can signal financial distress to banks, leading to a credit limit reduction or even account closure. Ways to Minimize Fees:
If you’re in a financial crunch, it’s often wiser to explore alternatives like a personal loan (which has lower interest rates), borrowing from a trusted friend or family member, or even a salary advance.
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