Does interest on a credit card cash advance occur everyday?
So I took out a $300 cash advance from Wells Fargo two days ago with a 5% interest. I was charged $15 today. Will I be charged everyday I don't pay it back?
- StephenWeinsteinLv 76 years agoFavorite Answer
It's not $15 a day. It's a $15 one-time fee and then approximately $5 a month of interest.
- SumDudeLv 76 years ago
You were charged A CASH ADVANCE fee. the interest is only about 4.11 cents per day over and above the $15.
- Anonymous6 years ago
Interest is charged for each day but billed monthly.
- RobLv 76 years ago
Monthly in USA