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Old 12-28-2010, 09:15 PM
cjscully cjscully is offline
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Join Date: Oct 2010
Location: California USA
Posts: 90
Default Re: Don't take that cash advance!

Well, since someone revived this somewhat old thread I'll chime in with an opposing point of view.

When I consider the question of cash advances I go on the assumption that there is a dire financial need for the cash advance. I don't consider that a sensible person would take a cash advance just for the heck of it.

On that note, consider a circumstance where you have an emergency expense that exceeds whatever you have in your emergency fund (or maybe you don't have one). You need the funds now for whatever reason and you can't just charge the expense to the card (unusual these days but not too far fetched), what do you do?

Payday loan? Much more expensive and potentially problematic than a credit card cash advance.
Pawn something? Might be okay if you are certain you'll be able to pay off the loan and redeem the property. It's still riskier than the cash advance though.
Borrow from family member/friend? Might work but might also seriously strain your relationship with the person you borrow from if you can't pay it back as agreed for some reason.
Auto title loan? As bad as payday loans and pawnbrokers and is only an option of you have free and clear title to your car. Most people don't.

A credit card cash advance is clearly a better option than all of the above.
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