I'm with the other ladies.. cash advances are a BAD idea. Not only is the interest outrageous (much higher than your interest on regular charges) but most cards will make you pay off the high interest charges before you can start paying the regular charges again.
Lets say you have a $500 balance at 10% and you make a monthly payment of $100. But you take out a cash advance of $700 at 20% (which is about average). You'll have to pay back the whole $700 hundred, plus any interest charges at the 20% rate BEFORE any of your payment goes towards the regular charges. And since the interest is higher, less goes to the principle (sp?) It takes you longer to pay off and costs you more money. If you can avoid it, I would.
By the way, if I explained it wrong or some one can explain it better, please do.. this is just how I understand it from having credit cards myself and what I've learned from my mom doing a couple to help my sis.
at 12:27 AM on Jan. 30, 2010