ELI5: Explain Like I'm 5

Cash advance

A cash advance is when you borrow money from someone, like a bank or a credit card company, and they give you the money you need right away. It's like when you ask your parents for an advance on your allowance, but instead of getting it from your parents, you're getting it from someone who's lending you money.

But, here's the thing – when you borrow money this way, you usually have to pay it back with extra fees and interest. It's like your parents saying you can have an advance on your allowance, but you'll have to do extra chores around the house to "pay them back" the extra money they're giving you.

So, a cash advance is a way to get money quickly, but you have to be careful to pay it back on time and to make sure you understand all the fees and interest that come with it.