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A cash advance on a credit card is a service that allows cardholders to withdraw cash from their credit card 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. Avoid applying for new credit unnecessarily: Each time you apply for credit, it generates a "hard inquiry" on your credit report, which can slightly lower your credit score.

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The fees and interest rates associated with these loans can be very high, and you may end up paying much more than you borrowed. Don't max out your credit cards or take on more debt than you can handle.