If you exceed the limit, the issuer sees you as a bigger risk and will charge you a fee each month that you exceed the limit. Instead of incurring a fee, pay attention to your limit and call the issuers to ask for a higher credit line when you need it. Easier yet, never carry a balance that is more than 75 percent of your credit limit. These fees vary depending on the card company. Be sure to understand the rules for cash advances.
Some card issuers charge higher rates of interest for cash advances than they do on purchases.
You'll likely pay interest from the day you take out the money and that higher cost will continue until the card is paid in full. Taking cash advances to pay for daily living expenses is a sign of trouble. More and more issuers are charging annual fees to make up for lost profits. Annual fees can be a smart cost if you get top-notch customer service, rebates, frequent flier miles or other enhancements. These are becoming more popular and expensive.