Definition, Meaning & Synonyms
cash-advance
noun
/kæʃ ædˈvæns/
Definition
A cash advance is a service provided by a financial institution that allows a borrower to withdraw cash against their credit card or line of credit.
Examples
- She took a cash advance from her credit card to pay for an unexpected car repair.
- The ATM allowed him to obtain a cash advance from his credit line.
- Many people use cash advances for emergencies, but they should be cautious of the fees involved.
Meaning
It enables individuals to access cash quickly, often for immediate needs, by borrowing against their credit card limit.
Synonyms
- cash withdrawal
- credit advance
- liquidation of credit
