"신용카드한도현금화" translates to "credit card limit cash withdrawal" in English. This term refers to the process of obtaining cash from a credit card, up to the available credit limit. Here's a brief explanation:
Credit Card Limit Cash Withdrawal: A Quick Overview
Credit cards, beyond their primary function for purchases, also offer the option for cardholders to withdraw cash, effectively turning a portion of their credit limit into available funds. This process is commonly known as credit card limit cash withdrawal.
Key Points:
Credit Limit: Each credit card comes with a predetermined credit limit, indicating the maximum amount a cardholder can spend using the card. A portion of this limit is often reserved for cash withdrawals.
ATM Transactions: To access cash from a credit card, cardholders can use ATMs. Similar to a debit card transaction, the credit card is inserted into the ATM, and the user selects the option for a cash advance.
Fees and Interest: While this feature provides quick access to cash, it's crucial to be aware of associated fees and interest rates. Credit card companies typically charge a fee for cash advances, and the interest on these transactions often accrues from 신용카드한도현금화 the day of the withdrawal, usually at a higher rate than regular purchases.