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The borrower is given a credit limit, which is the loans maximum amount of money that they are allowed to borrow. Overall, while both credit card cash advances and payday loans can provide access to cash in a pinch, credit card cash advances offer several advantages over payday loans, including lower cost, easier qualification, and greater flexibility. The fees and interest rates associated with these loans can be very high, and you may end up paying much more than you borrowed.
Only apply for credit when you really need it, and try to avoid applying for too much credit at once. Learn more about managing your credit and improving your credit score.