IDFC first bank Interest free cash advances on credit cards - facts


Many credit card holders wonder whether they can withdraw cash from their credit card. It is especially true when they are facing a cash crunch. A cash loan from a credit card is available from many credit card providers. While cash advances from a credit card might be useful in an emergency, they have certain disadvantages.

It is not wise to withdraw cash from a credit card just because you can. Read on to know why.

What is a credit card cash withdrawal?

Cash advance  is the official term for credit card cash withdrawal. It enables credit card holders to draw cash from an ATM utilising their credit cards. Because credit cards primarily help with payments, the facility to withdraw cash feels like a bonus function. Card holders who use the service can withdraw cash up to a certain limit and must refund it together with interest and other fees.

However, the service may not be accessible on all credit cards, and the cash withdrawal limitations and finance charges may differ from one card to the next. As a result, credit card users should read the terms and conditions that apply to their card.

How does a cash from credit card advance work?

Credit cards help with purchases. For instance, you can use your card to pay for products in stores or online. Until you settle your credit card dues, the outstanding credit gets reduced by the amount of purchases you make. Cash advances made with a credit card operate differently.

If your card enables it, you may have two credit limits: one for transactions and another for cash advances, which is normally lower than the transaction limit. You draw money against this line of credit when you get a cash advance.

How much does a credit card cash withdrawal cost?

Cash advances do not come free of cost. There are many costs to consider. The cash advance cost, which is a convenience fee charged for cash withdrawals against your cash advance threshold, is the primary cost associated with cash advances. It could be a fixed fee or a proportion of the amount advanced, whichever is higher. The quantity can differ from one card to the next.

If you withdraw money from a credit card at an ATM or local bank, you must pay other costs as well. You might even have to pay an ATM premium or a teller fee for this service. The annual percentage rate (APR) is the second part of the cash advance cost equation. The APR for credit card cash withdrawal is greater than the APR on purchases or debt transfers. And, as previously said, interest accumulates immediately.

However, IDFC FIRST Bank credit cards allow interest-free ATM cash withdrawals up to 48 days. The cash advance fee per transaction, meanwhile, is ₹199, with the monthly interest on cash advances ranging from 0.75%–3%.

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Benevolent Benevolent
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Maximum 10000rs Can Be With Drawn Per Single Transaction At Any Atm Including Idfc Bank Atm Too.

236rs Will Be Charged Per Withdrawl

Comrade Comrade
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!!They say 199 + may be outdated..
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Generous Generous
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NEVER withdraw cash from credit card in atm unless you want to pay high charges 

Comrade Comrade
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What other ways to get cash in account? Need some money
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