When you want a low cash advance rate, look at both the ongoing rate and the transaction fee. Some providers, like ING, apply one low variable rate (for example 12.99% p.a.) to both purchases and cash advances, which is cheaper if you need to withdraw cash.
Other cards offer no annual fee or a balance transfer deal but carry a much higher cash advance rate, sometimes near 30% p.a. Check the fee too (often a flat $3 to $5 or a percentage), and remember interest on cash advances usually starts immediately with no interest-free period. If you simply want a low ongoing rate, compare low rate cards.
Low cash advance credit card FAQs
A cash advance is when you use your credit card to get cash, such as an ATM withdrawal or a cash-equivalent transaction. It usually has no interest-free period and a higher rate than purchases, plus a fee, so interest starts straight away.
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