Does anybody here try Credit Card cash advance before?
Whether is from Bank / Register Money Lender / Any Other form.
Many people might misuse / misunderstanding the use of cash advance,
so they run into trouble, bankrupt.
that why when people hear about "cash advance", majority will reject it / or some will say is another money games,
or some will say is Register AhLong bla bla bla ...


If you know how to use the cash advance advantage,
actually this is a very good tools to manage your on-hand cash flow,
to help in financial planning, investment and so on.

What credit card cash advance can used for:
1. emergency case?
2. travelling
3. temporally monthly turnover / expenses
4. other
5. share your experience

Do you know what is the interest rate charged by the banks on top of cash advance fee?

It's 18% p.a charged in daily basis from the day of withdrawal.

Are you sure that you're giving out a good advice here?

1. CIMB Cashlite (interest ranging from 4.99% - 5.99% PA)
2. RHB CashXCess (interest around 4.5% PA - check their website)
3. Citibank DFC (interest ranging from 3.x% to 5.xx%)
4. HSBC CIP (interest ranging from 4.88% - 6.xx% - check their website).

The interests listed are flat, for EIR please use Flat to EIR calculator. Some has no early settlement fee + the remaining interest is waived.

So this interest rate has no concern at all?

I think cash instalment plan is better than cash advance (withdraw thru ATM machines with your CC) as there is a minimum withdrawal fee or charged based on percentage. For example CIMB Cashlite if you intend to use it in short period (e.g. one month) or less than a month can always fully settled it by calling them and make full settlement.

To be honest I've never used cash advance withdrawal (withdrawal from ATM with CC). My options are always on cash instalment plan.

If it's for business trip and fully reimbursed by the company, I don't care about it.

But if it's for personal, cash advance is a big NO due to it's ballooning interests.

Cash installment plan is an alternative at a lower interest rate but still not strongly encourage too.
Unless you have pretty solid reason to do so.

The best is to swipe first and balance transfer to another bank.
Or convert the purchase into installment.

This post has been edited by David83: Mar 3 2019, 07:33 PM

Need to make it clear that I am not giving any advice here.
Just sharing my opinion.
you are talking about Bank charges. Is completely rite..
Bank charges some is very high, is true.
But instead of go through by bank, you still have other option for cash advance by credit card.
which is abit "illegally" at the market.

Isn't taking personal loan would be better than standard cash advance facility?

And you're asking how to take advantage of this cash advance facility?


This post has been edited by David83: Mar 3 2019, 07:36 PM

cash advance withdraw from ATM will impose higher interest rate.
But if I not mistaken, very few bank has offer 1 time interest rate with less than 6 month installment.
is officially from Bank. Can't recall which bank.
Cash installment plan help alot actually. I personally very like to use it...
But at the end it all depend on how the person use it...
are you agree it?

i do not know how to use the cash advance to its advantage,
can share how to use this cash advance and its advantage in helping in financial planning, investment and so on?
thanks

my MUM always reminded me to have emergency funds of at least 6 months, thus
1. emergency case?...no applicable as i had emergency fund
2. travelling?......never use money not saved for it
3. temporally monthly turnover / expenses ...not applicable as i have good financial displince and emergency fund...




This post has been edited by MUM: Mar 3 2019, 07:49 PM

This thread is really making my jaw dropped down to the floor.

TS is right, it's a personal preference which is none of my business.

I apologize and I won't reply further in this thread.

Wish TS good luck and hope you don't end up at AKPK.

This post has been edited by David83: Mar 3 2019, 07:47 PM

just my opinion... no offend.
personal loan is better if compare cash advance.
but some might not able to get loan due to some reason, and maybe the interest rate as well.
and cash advance can help in some way rite.
and the amount I talking here is like 1k-5k only.. not a big amount of loan.
that mean only for some specific purpose or emergency case based on your need.
from my view point, it can help temporally to solve cash flow issues.
u take extra cash from credit card, u pay back by installment, 3m / 6m.
so you have another extra cash can use.
just my 2 cent...

So TS is planning to use cash advance to spend in travelling? Sounds like a bad idea for me but if really need cash urgently, the best option I can think of is to top up Bigpay and withdraw without incurring any interest

Forget about cash advance. Let me give you Ramjade way to get cheaper cash advance.
1.Open a big card account.
2. Topup your bigcard using existing credit card
3. Withdraw cash locally or overseas.
4. Pay your credit card bills on time.

Taadaa. Cheap cash advance.

You can say thanks now.

Been doing this for some months now, but I am still very afraid whenever I do this because I heard some hearsay that our card might get banned if Bigpay finds out that we keep topping up / withdrawing constantly. It is sort of an abuse of the system as every time we top up, we will get awarded Big Points.

Right now, I just top up 2-3 times, then use some of the balance intermittently, to avoid any suspicion.

High interest...

This kinda cash advance should only ever be used during emergency... any other circumstances is just asking for trouble

Easily flagged.