I'm in a situation where I need $2500 (USD) in cash (for a money order/cashier's cheque). I'm considering taking out a cash advance on my new US credit card.
My credit card agreement says the "APR" is 19.99% for cash advances. I'm guessing that this is the interest rate.
I have no clue of how to calculate this. Is it compounded monthly? Say I could pay it all off two weeks later - what would the total charge be? Do I accumulate interest for the full month?
I also hear it can hurt my credit score if I take out a cash advance. Would it still hurt if I paid it off before the end of the month? Apparently it can hurt depending on the location - what if I just took it out from a bank ATM? The cash is needed to pay initial rent while I start a new job.