New Delhi, Jan. 29 -- Credit cards are flexible financial instruments that facilitate all types of online purchases and offline purchases. It is theoretically possible, but a "cash advance" is not always a simple or economical option. Let us review the mechanics of advances from financial institutions, their costs, potential risks, and their benefits.

A credit card is a metal or plastic card issued by a financial institution that enables you to borrow funds for purchases. Using a credit card, basically, involves borrowing money from the issuer which you would pay back often with an addition of interest. When applied sensibly, credit cards have some benefits that can include cash back and points.

With a credit card cash withdrawal, also ...