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Now, let’s see what the definition of a credit card cash advance will be as the terminology is going to be important. A credit card cash advance is a debit against your credit card, which is a revolving open-ended line of credit.
Cash advances can give you a lump sum of cash that you can spend immediately how you see fit. In that scenario, it’s similar to getting a personal loan. However, in terms of how much you can borrow, how that cash advance is paid back, there’s going to be some differences.