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I am using credit card form Bank of America. I have a credit limit of $1,500. It also says, when I check on line, that there is $400 cash credit line available. What is this cash credit line and how does it work? What is a Cash Advance on a Credit Card? A credit card cash advance is a withdrawal of cash from your credit card account. Essentially, you’re borrowing against your credit card to put cash in your pocket. However, there are costs to taking a credit card cash advance and, in some cases, limits on the amount you can withdraw. Here’s what you need to know. Credit Card Account Information FAQ from Bank of America

In Texas, loans arranged with an unaffiliated third party lender by ACSO of Texas, L.P. d/b/a Advance America, a licensed credit access business, and subject to lender’s approval. In Virginia, Advance America, Cash Advance Centers of Virginia, Inc. licensed by the Virginia State Corporation Commission. PL-12; VTL-41.

Welcome to Bank of America®, home for all of your financial needs. Our purpose is to help make financial lives better through the power of every connection. Our purpose is to help make financial lives better through the power of every connection. What are Payday Loans and How do They Work? The material provided on this website is for informational use only and is not intended for financial, tax or investment advice. Bank of America and/or its affiliates, and Khan Academy, assume no liability for any loss or damage resulting from one’s reliance on the material provided.

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