Easy and tempting cash advance
My HSBC Visa credit card gives me the comfort of cash advance. I had a certain limit of cash advance from this card of mine and my automatic charge is 3% or 300 pesos or any amount to be set by HSBC. I can advance here (Philippines) or abroad.
Well of course having a cash advance limit is an advantage but I tend not to be tempted by it except on emergency cases. I availed of this once when I’m in urgent need of money because the one I’m expecting got troubled on the way. It did happen and with this kind of offer that is so easy to get just by withdrawing in any accredited ATM I submitted myself. BUT, of course when I got hold of my troubled money I pay the bank right away.
I guess we just have to be careful and responsible in availing this kind of offer because it might be a disadvantage on our part if not.
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HSBC It was a gift Category: Finances & Insurance / Cash Advances Published: May 05, 2008 16:04
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Rank: 40th (
1)
ShareScore: 100%
Gender: Male
Age: 42
Education Level: college
Country: Philippines
Industry: Communication
Position: Department Head
Income: $0.00 - $20,000.00
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I agree with you-these should be used on emergency bases only!!
Any cash advance should be used responsibly. Thanks for sharing this information.
Thanks for the great information! Great job!
I never ever dare to try all this Cash avdvance because the interest rate is very high.
Yes, because of high interest rates, and the propensity to get in debt over your head, it is wise to only use the cash advance in times of extreme need.
Yes, I think sometimes it's too easy to get these cash advances and you can quickly get in over your head. Then those interest charges start building up. Best to avoid these transactions unless they are an absolute emergeny (in my opinion anyway!)