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Some credit cards offer a cash advance option. But how good a deal is this?

Not very. In fact, it can be downright expensive.

Why?

Because every time you use your credit card to withdraw case, more fees kick in:

* Cash advances can carry an upfront fee of 2 percent to 4 percent of the amount advanced.

* The advances have a higher interest rate than regular card charges.

* Interest charges begin to mount as soon as the money comes out of the ATM.

* Many issuers also require you to pay down the balances for purchases before you pay down the higher-interest cash advance balance.

Here's an example of how these fees kick in:

Assume you bought a television for $500 on your credit card and then took out $50 in cash. Even though you pay the $50 back the next day, you still lose your interest-free period because the credit provider deems you pay the cash back last.

As a result you will still owe the $50, but you will now only owe $450 on the $500 worth of purchases.

You'll continue to forfeit your interest-free period up until you have completely paid back the full $550. Any future purchases will still be ahead of the $50 in the payback line.

The lesson is simple: Avoid using your credit card to withdraw cash wherever possible. You'll save money as a result!Shop around the amount of Credit Card offers is now staggering. If you are prepared to shop around your next Credit Card could save you money.

Keith Davies of http://www.searchforcredit.co.uk is always on the look out to save people money. Loans, Credit Cards, Mortgages we have all the latest deals.

Article Source: http://EzineArticles.com/?expert=Keith_Davies

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Yes, low APR credit cards are on the rise. Many credit cards are competing for your business to give you the best and lowest rates available today. There are so many credit cards from you to choose from that they are doing all kinds of things to get your attention including lowering their interest rate and giving you no annual fees.

Why is this happening? Because there are so many credit card companies. They all want your business and this is an attractive incentive to get you to apply and own one of their credit cards. If you choose a low APR credit card over one with 19.99 percent you are sure to go with the lower APR.

The only problem is that sometime these 0% and low APR credit cards are only promotional ways to get you to apply and then later your interest rate will rise. Many credit card companies have low APR credit cards for a certain amount of time such as 3 months, 6 months and some up to one year. You will have to compare to find out which one keeps the lower APR after the promotional period to ensure you are getting the best deal around.

No matter what the reason low APR credit cards are here to stay as long as the companies are competing for your business. Just remember to compare everything they offer besides the lower interest rate. You may find that several credit card companies are now offering other wonderful incentives for you to apply with them such as reward programs.

No matter which company you choose, you will enjoy the low APR credit cards even if it is only for a limited time. You will be able to save money on your purchases because you will not have to pay any interest until the promotional period is over. Just be sure your balance is very low when the interest rate kicks in and you will be fine.