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These loans often have much higher interest rates and fees than online loans or traditional loans, which can make them difficult to repay. A cash advance on a credit card is a service that allows cardholders to withdraw cash from their credit card account. This is especially convenient for those who have busy schedules or live in rural areas where access to traditional lending institutions may be limited.
However, there are also some potential drawbacks to getting a loan from a bank. Overall, cash advances on credit cards can be a convenient way to access cash in a pinch, but they also come with high costs and potential risks. Credit-builder loans: Credit-builder loans are small loans that are designed specifically to help people build or improve their credit.