Credit Card Cash Advance Companies Are Thriving: A 10,000 Yuan Fee Saves 200 Yuan_China Credit Card Cash Advance

by snakeszf1 on 2009-04-27 12:32:06

According to the CCTV program News 30, with the popularization of credit card use, some people have set their sights on cashing in on credit card withdrawals. In China, such cash withdrawals currently constitute a violation, but because it occupies a "grey area", there are not yet clear laws or regulations which stipulate punishments for such behavior. The report claims that credit card cash advances refer to credit card holders obtaining cash advances without going through normal ATM or counter services.