Today, more than ever before, having a good credit score is very important. It can affect the normal things like qualifying for a mortgage or car loan and what type of interest rate you can get, but also other things as well. Many car insurance companies are starting to factor in the driver’s credit score when making a quote, and employers are checking credit as well in many industries. With this in mind it is important to ask the question, “Do cash advances show on your credit report” before you apply.

The short answer is yes, they will show up on your credit report. While this may make some people nervous, it is not typically a bad thing. Cash advances are going to look very similar to any other type of loan on a credit report. This means if you are able to get the loan and then pay it off in full and on time without any late payments you’ll actually help to improve your credit score.

Some people whose credit score is right on the borderline between average and good will actually take out a cash advance just so it will be reported. Even if they have the money set aside for it they can take out the loan and then make each payment on time. This will then get reported to the credit agencies and their score will be bumped up. This is a much faster process than what could happen with a larger loan and is actually less expensive.

Keep in mind, however, that if you are late on payments or don’t pay the loan back this will also be reported to the credit bureaus. This can cause your credit score to drop which can have a bad impact on many other areas of your life.