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In the case of the credit card you don't ever have to pay any interest if you pay within 30 days; can't say that for the payday loans.
by emodendroket 5y ago
In the case of the credit card you don't ever have to pay any interest if you pay within 30 days; can't say that for the payday loans.
- AlexandrB 5y agoThat's only true if you're using your credit card to buy stuff. If you withdraw cash from your credit card at an ATM you start accruing interest immediately; at least on every credit card I've ever owned.
- emodendroket 5y agoYou're right. Cash advances are generally not on very favorable terms.
- simplestats 5y agoYeah but the point of withdrawing cash is to buy stuff. Credit card checks can also be used in many cases where credit cards cannot, and those don't always have the fee or immediate interest of cash advances.