Which result occurs when using high-interest cash advances?

Using high-interest cash advances results in higher total costs due to fees and interest charges associated with borrowing. Cash advances typically come with exorbitant interest rates that often start accruing immediately, unlike regular purchases that might have a grace period. The fees can be even more significant, as many lenders impose a cash advance fee, which is a percentage of the withdrawal amount or a flat fee, whichever is greater. As the balance grows due to high interest and fees, the total cost of borrowing becomes increasingly burdensome, making this option a costly financial decision in the long term.

This understanding highlights why it is crucial for individuals to carefully consider the implications of taking cash advances, especially when other borrowing options might be available at lower rates or with better terms.