Cash advances can be available in a couple of ways. Some credit card
companies issue a limited number of checks that can be used to make
payments or purchases. These checks function much in the same manner as
checks used for bank accounts in that they are made out to a specific
payee for the amount specified on the check. The payee can then cash the
check as he or she normally would with any other check. The maximum
amount available for use with these checks is limited and is typically
noted clearly on the checks.
The
other method is through the use of the credit card at an ATM machine.
This method requires a PIN number that is issued by the charge card
company and works similarly to banking ATM cards. Cardholders may be
limited to specific ATM machines that feature the logo of a specific
card issuer which can typically be found on the back of the card and
clearly posted on the ATM. Failure to use these specific ATM machines
could result in the cash advance being denied or the card not being
accepted at all. Cardholders can borrow up to the maximum amount allowed
by the card issuer.
