The overdraft prtooctien advance is for customers of that bank who also have a checking account. They can use their credit card as an emergency funding source for their checking account to prevent returned checks. Say your rent is due next week for $ 1000 and you have $ 200 in your account. You're supposed to be paid on Friday and expect to deposit $ 1000 in your account. You give the landlord the rent check and he takes it to the bank on Friday. Your paycheck doesn't come. You're $ 800 short. Rather than pay the bank a returned item fee, and probably have to pay your landlord a fee the bank will draw $ 800 from your credit card so your check will go through. I would only recommend doing this if you aren't going to use the card for anything else. The reason is as stated in an earlier answer. When you repay the card they will repay the lower interest rate purchases and not pay back the higher interest rate overdraft prtooctien until you've paid the prior in full.Financial institution cash advance is where you go to a bank, or ATM and get cash from your credit card. In addition to the much higher interest rate there is also a transaction fee. If you get $ 1000 in cash the fee would be $ 40. Convenience checks are similar. Rather than using the card you use the checks they send you. So it's a little better of a deal as the same $ 1000 would only cost you $ 30 up front. Again you should only use these features in an absolute emergency as they are much more expensive than just using your card normally. Plus there is no grace period. Even if you pay back just a day or two later you will owe interest.
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