A cash advance is a service provided by credit card companies that allows cardholders to withdraw cash against their credit limit. This can be done through ATMs, bank tellers, or convenience checks. While it offers quick access to cash, it often comes with high fees and interest rates that start accruing immediately. Using a cash advance can be convenient in emergencies, but it’s important to understand the costs involved. Unlike regular purchases, cash advances typically do not have a grace period, meaning interest begins to accumulate right away. Therefore, it’s advisable to consider other options before opting for a cash advance.