The main ways to get cash from a Capital One card
You can get cash from a Capital One credit card in three ways: using an ATM with your PIN, visiting a bank branch, or requesting a cash advance through the card issuer. Each method has different fees and interest rates, and cash advances start charging interest when ready — there is no grace period like there is for purchases.
The most common route is an ATM withdrawal using your PIN. You set up a PIN when you open the card or request one later through the Capital One website or app. The card itself works like a debit card at any ATM that accepts Mastercard or Visa, depending on which Capital One card you hold.
A second option is to visit a Capital One bank branch in person and ask the teller for a cash advance. This works if you have a branch near you, but many people do not — Capital One has fewer physical locations than larger national banks.
The third option is to call Capital One's customer service line and request a cash advance by phone. They can deposit the money directly into your bank account, though this takes one to two business days and may carry a separate fee.
Key Takeaways
- ATM withdrawals are the fastest way to get cash and usually charge a flat fee of $2 to $3 per transaction plus a percentage of the amount you withdraw.
- Capital One charges interest on cash advances from the day you withdraw the money, not from your statement date, so the interest accrues faster than on regular purchases.
- You need to set up a PIN before you can use an ATM; you can do this through the Capital One app, website, or by calling customer service.
- Your credit limit covers both purchases and cash advances, so withdrawing cash reduces the amount you can spend on purchases.
- Cash advances may have a lower credit limit than your full card limit, which Capital One lists in your account details.
Setting up your PIN for ATM withdrawals
Before you can withdraw cash at an ATM, you need a four-digit PIN. If you did not create one when you opened your card, you can set it up through three channels: the Capital One website, the Capital One mobile app, or by calling customer service at the number on the back of your card.
On the website or app, log into your account, find the card settings or security section, and look for "Set PIN" or "Change PIN". You will choose your own four-digit number. On the phone, a representative will walk you through the same process and confirm your new PIN before you hang up.
Once your PIN is active, you can use it at any ATM that displays the Mastercard or Visa logo — whichever network your Capital One card uses. The ATM will ask you to insert your card, enter your PIN, and select the withdrawal amount.
Understanding cash advance fees and interest rates
Capital One charges two costs for cash advances: an upfront fee and a higher interest rate than you pay on purchases. The upfront fee is usually 3% to 5% of the amount you withdraw, with a minimum fee of $2 to $3. So if you withdraw $100, you might pay $3 to $5 in fees when ready.
The interest rate on cash advances is higher than the purchase rate on your card. Your purchase APR might be 18%, but your cash advance APR could be 24% or higher — Capital One lists both rates in your card agreement and in your online account. Unlike purchases, interest on cash advances starts accruing the day you withdraw the money. There is no interest-free period.
This means a $200 cash advance at 24% APR costs you roughly $4 per month in interest alone, before you pay down the principal. The longer you carry the balance, the more interest you pay.
How to request a cash advance by phone or bank branch
If you do not want to use an ATM, you can call Capital One at the number on the back of your card and ask a representative to process a cash advance. They will verify your identity, confirm the amount you want, and ask where you want the money sent. Most often they deposit it into your bank account within one to two business days.
Calling for a cash advance may carry an additional fee beyond the standard cash advance fee — Capital One charges some cardholders a "cash advance by phone" fee on top of the percentage fee. Ask the representative what the total cost will be before you confirm the request.
If you have a Capital One bank branch nearby, you can also walk in and ask a teller for a cash advance. Bring your card and a form of ID. The teller will process it on the spot and hand you cash. This is the fastest method if a branch is convenient for you, but Capital One branches are concentrated in certain states and sparse in others.
Cash advance limits and how they affect your credit
Your Capital One card has a total credit limit — say $2,000. Within that limit, there is often a separate cash advance limit, which might be $500 or $1,000. Capital One sets this limit when they issue your card and may adjust it over time based on your payment history.
When you withdraw cash, it counts against both your cash advance limit and your overall credit limit. If your cash advance limit is $500 and you withdraw $300, you have $200 left to borrow as cash and $1,700 left to spend on purchases (assuming a $2,000 total limit).
Cash advances do not hurt your credit score directly, but they do increase your credit utilization — the percentage of your available credit you are using. High utilization can lower your score temporarily. Paying off the cash advance quickly brings your utilization back down.
Comparing cash advances to other ways to borrow money
A cash advance is one of the most expensive ways to borrow money. The fees and high interest rate make it costlier than a personal loan, a line of credit, or even a payday loan in many cases. Before you take a cash advance, consider whether another option would cost less.
A personal loan from a bank or credit union typically charges 6% to 36% APR with no upfront fee — lower than a cash advance's 3% to 5% fee plus 20% to 30% APR. If you need $500, a personal loan might cost you $50 in interest over six months, while a cash advance could cost $75 or more.
If you have a 0% APR promotional offer on your Capital One card for purchases, you could also transfer a balance from another card or ask a friend to pay for something and reimburse them with a purchase on your card — both avoid the cash advance fees and high interest rate.
Paying off a cash advance quickly
Because cash advances accrue interest from day one, paying them off as soon as possible saves you money. Capital One applies your payments to the highest-interest balance first, so if you have both a purchase balance and a cash advance balance, your payment goes toward the cash advance.
Set up a payment plan before you withdraw the cash. If you need $300, calculate how much you can pay back each month and make sure you can stick to it. A $300 cash advance at 25% APR costs about $6.25 per month in interest alone, so paying $100 per month means you pay it off in three months with roughly $18 in total interest.
You can make payments through the Capital One website, app, or by phone. Payments post within one business day, and you can pay more than the minimum at any time without penalty.
Frequently Asked Questions
What is the difference between a cash advance and a balance transfer?
A cash advance gives you physical cash and charges a fee plus a high interest rate from day one. A balance transfer moves debt from another card to your Capital One card, usually at a lower rate or 0% for a promotional period. Balance transfers are for moving existing debt; cash advances are for getting new cash.
Can I use my Capital One card at any ATM?
You can use it at any ATM that displays your card's network logo — Mastercard or Visa. Some ATMs charge an additional surcharge on top of Capital One's cash advance fee, usually $1 to $3. Using an ATM owned by your own bank avoids this extra charge.
Do I have to pay interest on a cash advance if I pay it back right away?
No. Interest is calculated daily, so if you withdraw $200 on Monday and pay it back on Tuesday, you owe only one day of interest — roughly 7 cents. However, you still owe the upfront fee of 3% to 5%, which is not waived.
What happens if I reach my cash advance limit?
The ATM will decline your card if you try to withdraw more than your cash advance limit. You can request that Capital One raise your cash advance limit by calling customer service, but they may decline if your account is new or your payment history is short.
Can I use a cash advance to pay off other debts?
Technically yes, but it is not recommended. The fees and interest rate on a cash advance are so high that using it to pay off lower-interest debt usually costs you more money overall. A personal loan or balance transfer is almost always cheaper.