If you need money in a hurry, you might find it hard and time consuming to get a loan through your bank. In today’s tight credit climate, lenders are tightening their purse strings, and if you have subpar credit, you may be hard-pressed to get a loan at all. One way to work around this problem is to use a credit card that offers cash advances. These cards are intended to help those who need money fast, and while it’s a good option, it’s a good idea to settle credit card debt fast and easy so that your debt doesn’t follow you for years to come.

How do these cards work? They let you take out money immediately. The amount you can get will vary (call the company to find out exactly what that amount is). Once you are aware of the withdrawal limit, you can go to the ATM and use it just as you would any other card. Instant cash sounds appealing, but you should be aware of all fees involved. Also, a cash advance card usually charges much higher interest on these advances. The interest applies immediately (no grace period). To responsibly use these cards, you need to have a plan in place to pay the entire balance. If you don’t know how to get started, there are plenty of credit card debt repayment calculators online. Also, you should read the pamphlet that comes with the card when it’s issued to you. Reading the fine print is important!

Use these cards wisely, and keep in mind a few important things. You should have a purpose in mind for the money, and as we said above, you should know how you are going to pay the money back. The faster you pay it off, the less you will pay in the form of interest and other fees. These fees are the biggest disadvantage to using a cash advance credit card. While it’s true that these fees are higher than with other cards, they are a great way to get quick cash in an emergency.