manish dubey

No, withdrawing money from a credit card typically incurs a cash advance fee, which is a percentage of the amount withdrawn. Additionally, cash advances usually start accruing interest immediately, rather than having a grace period like purchases do. It is best to avoid withdrawing cash from a credit card if possible, as it can be a costly way to access funds.. Charges Applicable To Credit Card Cash Withdrawals When you withdraw cash from a credit card, you will typically be charged a cash advance fee, which is a percentage of the amount withdrawn. The fee can range from 2% to 5% of the withdrawal amount. For example, if you withdraw $500 from an ATM using your credit card, you might be charged a cash advance fee of $25 (assuming a 5% fee). In addition to the cash advance fee, cash withdrawals from a credit card typically also come with a higher interest rate than regular credit card transactions. Interest on cash advances usually starts accruing immediately, rather than having a grace period like purchases do. This means you will start accruing interest on the cash advance amount as soon as you withdraw it. Another fee that can be associated with credit card cash withdrawals are the ATM withdrawal fees. Some ATM providers charge a fee for using their machines, which can vary depending on the ATM location and provider. Conclusion: In summary, credit card cash withdrawals come with a cash advance fee, a higher interest rate, and can also be subject to ATM withdrawal fees. It is best to avoid withdrawing cash from a credit card if possible, as it can be a costly way to access funds.