Yes, you can get cash from a credit card, but it costs more than a regular purchase
You can withdraw cash directly from your credit card account in three ways: at an ATM using your card's PIN, at a bank teller's window, or through a cash advance from a convenience store or casino. Unlike a debit card withdrawal, every method charges you a fee and starts charging interest when ready — there is no grace period like there is for purchases. The interest rate is usually higher than your regular purchase rate, sometimes 5 to 10 percentage points above it.
Before you withdraw, understand that the cost adds up fast. A $200 cash advance at a typical 3% fee costs $6 upfront, then accrues interest at a higher rate every single day until you pay it back. If you carry the balance for a month, you could pay $15 to $25 total. For most people, a personal loan, a payday loan, or even a credit card balance transfer to a 0% card costs less.
Key Takeaways
- Cash advances charge a flat fee (usually 2% to 5% of the amount) plus a higher interest rate than purchases, with interest starting when ready.
- ATM withdrawals are the fastest method but charge both a fee from your card issuer and often a fee from the ATM operator.
- Bank teller cash advances may charge a lower fee than ATMs but require you to visit during business hours with your card and ID.
- The total cost of a cash advance depends on how long you carry the balance — even a small withdrawal can cost $20 or more if you pay it back over several months.
ATM withdrawals: the fastest but most expensive option
Walk to any ATM, insert your credit card, enter your PIN, and withdraw cash just as you would from a debit card. The transaction completes in seconds. Your card issuer charges a cash advance fee (typically 2% to 5% of the amount you withdraw) plus an ATM operator fee if the machine is not owned by your bank (usually $2 to $3). Both fees appear on your statement.
The real cost comes from interest. Your card issuer begins charging interest on the cash advance the day you withdraw it — not at the end of the billing cycle like a purchase. If your card's cash advance rate is 24% annual percentage rate (APR) and you withdraw $300, you pay roughly $6 in interest for every month you carry the balance. Add the upfront fee and you have already spent $12 to $21 just to hold that cash for 30 days.
Check your card's terms before you go to the ATM. Some cards limit how much you can withdraw per day (often $500 to $1,000) or per month. Your available credit for cash advances may also be lower than your total credit limit.
Bank teller cash advances: lower fees, slower process
Visit a branch of your card issuer's bank during business hours with your credit card and a photo ID. Tell the teller you want a cash advance. They will process it like a withdrawal and hand you cash. The fee is usually lower than an ATM fee — often 1% to 3% — and you avoid the ATM operator charge. The transaction takes 5 to 10 minutes.
Interest still starts when ready and accrues at the same higher rate as an ATM withdrawal. The advantage is purely the lower upfront fee. If you are withdrawing $500 or more, the 1% to 2% savings can be worth the trip to the branch. For smaller amounts, the time cost may not be worth it.
Not all banks offer this service to all cardholders. Call your card issuer's customer service line or check your account online to confirm whether your card supports teller cash advances and whether your branch offers them.
Convenience store and casino cash advances: third-party networks
Some credit cards participate in cash advance networks at convenience stores, grocery stores, and casinos. You approach the register or customer service desk, provide your card, and request cash. The merchant processes it like a purchase but codes it as a cash advance. You receive cash when ready.
Fees vary widely depending on the merchant and your card issuer — some charge 3% to 5%, others charge a flat $5 to $10. Interest starts the same day. This method is useful only if you are already at the location and the fee is clearly posted before you proceed. Many people use it without realizing they are paying a cash advance fee rather than a regular purchase fee.
How cash advance fees and interest rates compare to other borrowing options
A $300 cash advance at 3% fee plus 24% APR costs $9 upfront. If you repay it over three months, you pay roughly $18 in interest, for a total of $27. A personal loan for $300 at 12% APR over three months costs roughly $5 in interest — less than one-fifth the cost. A payday loan costs more upfront but less if you repay within two weeks.
If you need cash and have a credit card, compare these options before you withdraw:
- Balance transfer to a 0% card: If you have another card offering 0% APR for 6 to 21 months, transfer the cash advance there. You pay the cash advance fee once but no interest during the promotional period. This works only if you have a second card and can transfer before interest accrues.
- Personal loan: Most banks and online lenders offer personal loans at 6% to 36% APR depending on your credit. A $300 loan repaid over three months costs $5 to $15 in interest — usually less than a cash advance.
- Payday loan: A two-week payday loan costs $15 to $20 per $100 borrowed, or roughly $45 to $60 for $300. This is expensive if you carry it beyond two weeks but cheaper than a cash advance if you repay quickly.
- Credit card purchase with a grace period: If you can wait, use your card to make a purchase instead. You have 21 to 25 days before interest starts, giving you time to repay without any interest charge.
What happens if you do not repay the cash advance
A cash advance is a debt just like any other charge on your card. If you do not repay it, your card issuer reports it to the credit bureaus after 30 days of missed payment. Your credit score drops, and the interest continues to accrue at the higher cash advance rate. After 60 days, the issuer may freeze your card. After 180 days, they may sell the debt to a collection agency.
You cannot discharge a cash advance in bankruptcy as easily as other debts if the advance was taken within 70 days of filing. The law assumes cash advances are not essential purchases, so they receive less protection. If you are considering bankruptcy, do not take a cash advance in the weeks before you file.
Frequently Asked Questions
Can I get a cash advance if my credit card is maxed out?
No. Your available credit limit applies to all transactions, including cash advances. If you have $0 available credit, you cannot withdraw cash. Some cards set a separate cash advance limit below your total credit limit, so you might have $500 available for purchases but only $200 available for cash advances.
Does a cash advance show up differently on my credit report?
It shows as a cash advance on your card statement, but credit bureaus see it as a regular credit card balance. The distinction matters to your card issuer (who charges a higher rate) but not to other lenders reviewing your credit report. However, a high cash advance balance can signal financial stress to future lenders.
What if I withdraw cash and then pay it back the next day?
You still pay the upfront fee and at least one day of interest. There is no grace period for cash advances. A $300 withdrawal with a 3% fee costs $9 when ready, plus roughly $0.20 in interest for one day. The fee is non-refundable even if you repay within 24 hours.
Can I use a credit card cash advance to pay another credit card bill?
Technically yes, but it is a costly way to manage debt. You pay a cash advance fee on the withdrawal, then the interest accrues at a higher rate. Most people in this situation would benefit more from a balance transfer, a personal loan, or calling their card issuer to negotiate a lower rate or payment plan.
Is there a limit to how much cash I can withdraw?
Yes. Your card issuer sets a daily ATM limit (often $500 to $1,000) and sometimes a monthly cash advance limit. Your available credit also caps the amount — you cannot withdraw more than your remaining credit line. Check your card's terms or call customer service to learn your specific limits.