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Revolving credit lines are often used for a variety of purposes, including managing cash flow, covering unexpected expenses, or making large purchases. Credit card cash advances typically have a higher interest rate than regular credit card purchases, and some credit card issuers also charge a fee for cash advances.

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Additionally, cash advances on credit cards do not have a grace period, which means that interest begins accruing on the lyon borrowed amount as soon as it is withdrawn. Consider a secured credit card: If you have a poor credit score, you may have a difficult time getting approved for a traditional credit card. 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.