Many consumers use cash advances from their credit cards to pay other bills and buy groceries.
The temptation is great, but the penalties are severe, says Sharon Cabeen, director of education at Consumer Credit Counseling Service of Greater Atlanta. It's like a snowball running down a hill. Make sure that each month you're spending less than you earn. If not, curb spending or supplement your income. Before using your credit card for cash advances, read the agreement carefully for fees and interest information.