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Title: How Much Cash Advance Can You Get off a First Premiere Card
Introduction:
First Premiere Bank is a leading provider of credit cards, offering a wide range of financial products to cater to different customer needs. One of the services offered by First Premiere is the cash advance feature, which allows cardholders to withdraw cash from their credit card account. In this article, we will explore how much cash advance you can get off a First Premiere Card, along with some frequently asked questions regarding this facility.
Understanding Cash Advances:
A cash advance is essentially borrowing money from your credit card’s available credit line. Unlike regular card purchases, cash advances typically come with higher interest rates and additional fees. However, they can be a convenient option in situations where cash is urgently needed.
Determining Your Cash Advance Limit:
The amount you can withdraw as a cash advance from your First Premiere Card is subject to certain limits. These limits are usually determined by your creditworthiness, credit limit, and the terms and conditions of your card agreement.
1. Credit Limit:
Your credit limit is a key factor in determining how much cash advance you can get off your First Premiere Card. Generally, your cash advance limit will be a percentage of your overall credit limit. For instance, if your credit limit is $2,000, your cash advance limit may be around 20-30% of that amount.
2. Creditworthiness:
Your creditworthiness, including your credit score and payment history, also plays a role in determining your cash advance limit. If you have a good credit history and a higher credit score, you may be eligible for a higher cash advance limit compared to someone with a lower credit score.
3. Card Agreement:
It is essential to carefully review the terms and conditions of your First Premiere Card agreement to understand the specific cash advance limits applicable to your card. These limits may vary depending on the type of card you hold, promotional offers, and any other terms set by the bank.
FAQs:
Q1. How do I know my cash advance limit?
A: You can check your cash advance limit by logging into your First Premiere Card account online or by contacting the customer service helpline.
Q2. Is the cash advance limit the same as my credit limit?
A: No, the cash advance limit is typically a percentage of your overall credit limit. It may be lower than your credit limit, depending on various factors.
Q3. Can I increase my cash advance limit?
A: It is advisable to contact First Premiere Bank’s customer service to inquire about the possibility of increasing your cash advance limit. They will guide you through the process and provide necessary information.
Q4. Are there any additional fees associated with cash advances?
A: Yes, cash advances often come with additional fees, such as a cash advance fee and higher interest rates. These fees are typically disclosed in your card agreement.
Q5. How do I repay the cash advance?
A: Cash advances are usually repaid along with your regular credit card payments. It is important to make timely payments to avoid accruing high interest charges.
Conclusion:
First Premiere Cardholders can access cash advances, subject to certain limits based on their creditworthiness, credit limit, and card agreement. It is crucial to understand the terms and conditions associated with cash advances, including any additional fees and interest rates. If you have further questions or require specific information about your First Premiere Card’s cash advance limit, contacting the bank’s customer service is recommended.
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