What would you do if you badly need money and you don’t have cash on hand? Don’t you feel safer that you have an extra cash to spend on weekends or long holidays? Or the nearest ATM machine is down and you only have your credit card with you and you badly need the money to buy something?

I know what to do. I make a cash advance on my credit card. Yes. With the credits you have on your credit card, you can en-cash a portion of it into cold hard cash. Of course, there will be fees to be incurred in this but at least you have some money to spend where they only accept cash and not credit cards. For every cash advance transactions I made, my bank will charge me 3% or 500 pesos, whichever is the higher amount.

While cash advances are extremely convenient, it must also be taken into moderation. If you are planning to make a cash advance just to pay an existing loan, then all you are doing is just increasing your debts. You paid another debt from another debt. Get it? So use it only on emergency cases.

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