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They will then be able to withdraw a certain amount of cash, up to their cash advance limit. Overall, installment loans can be a useful financial tool for those who need to borrow a large sum of money and want to pay it back over a longer period of time.

One of the credit main advantages of a cash advance on a credit card is that it provides access to cash in a pinch, even if the cardholder does not have enough money in their checking or savings account. These loans are often marketed as a convenient alternative to traditional loans, but they can be risky and come with high fees and interest rates.