Yes, you can get cash back on most credit cards, but it costs money and comes with limits
You can withdraw cash using a credit card at an ATM or ask a cashier for cash back when you make a purchase. The transaction itself is straightforward — insert your card, enter your PIN, and take the cash. But unlike debit cards, where cash back is usually free, credit cards charge a cash advance fee (typically 3 to 5 percent of the amount) plus interest that starts accruing when ready, often at a higher rate than your regular purchase APR.
Most credit card issuers also set a daily limit on how much cash you can withdraw — commonly $500 to $1,000, though this varies by card and issuer. Some cards have no cash advance feature at all. Before you use this feature, check your card's terms to understand the fee, the interest rate, and your daily limit.
Key Takeaways
- Cash advances on credit cards charge a separate fee (usually 3 to 5 percent) plus a higher interest rate than regular purchases, with interest starting when ready.
- You can get cash at an ATM using your credit card or ask a cashier for cash back during a purchase, but ATM withdrawals typically cost more.
- Most cards set a daily cash advance limit, often $500 to $1,000, which is separate from your credit limit.
- Interest on cash advances does not have a grace period like regular purchases do, so the cost adds up quickly.
- If you need cash regularly, a debit card or a trip to your bank is cheaper than using a credit card.
How to get cash back at a store or gas station
When you make a purchase with your credit card, you can ask the cashier for cash back. Tell them the amount you want — usually between $20 and $100, depending on the store's policy — and they will add it to your total bill. You will pay the full amount (purchase plus cash back) on your credit card, and you walk away with the cash.
This method is cheaper than using an ATM because many stores do not charge a fee for cash back. However, you still pay the cash advance fee and interest that your card issuer charges. The interest starts right away, even if you pay your full balance when the bill arrives. Some stores have limits on how much cash back they will give, so ask before you assume you can withdraw $200.
How to get cash from an ATM with your credit card
Insert your credit card into an ATM, enter your PIN, select "Withdrawal" or "Cash Advance," and choose your amount. The ATM will dispense the cash and your card will be returned. The transaction is when ready, but the costs are not.
ATM cash advances typically cost more than store cash back because the ATM operator charges a fee on top of your card issuer's fee. You might pay $3 to $5 from the ATM operator plus 3 to 5 percent from your card issuer — so a $100 withdrawal could cost $6 to $10 before interest. Interest on the full amount starts accruing when ready at your cash advance rate, which is often 2 to 5 percentage points higher than your purchase APR.
Fees and interest rates for cash advances
Every credit card issuer sets its own cash advance fee and interest rate. The fee is usually a flat amount (like $5 or $10) or a percentage of the amount withdrawn (typically 3 to 5 percent), whichever is greater. So if you withdraw $100 and your card charges a $5 flat fee or 3 percent, you pay $5. If you withdraw $500, you pay either $5 or $15 (3 percent), whichever is higher — in this case, $15.
The interest rate on cash advances is separate from your regular purchase APR and is almost always higher. If your purchase rate is 18 percent, your cash advance rate might be 23 percent. More importantly, there is no grace period: interest starts accruing the day you withdraw the cash, even if you pay it back when ready. With a regular purchase, you typically have 21 to 25 days before interest kicks in.
To see your card's specific cash advance fee and rate, check your card's terms and conditions document or log into your online account. Call your card issuer if you cannot find this information.
Daily and total cash advance limits
Your credit card issuer sets a maximum amount you can withdraw as a cash advance in a single day, usually $500 to $1,000. This limit is separate from your credit limit — if you have a $5,000 credit limit, you might only be able to withdraw $500 in cash, leaving $4,500 available for regular purchases.
Some cards have no cash advance feature at all, particularly rewards cards or cards designed for specific purposes. If you are unsure whether your card allows cash advances, check your terms or contact your issuer. If your card does not offer this feature, you cannot use it at an ATM or ask for cash back, even if you have available credit.
When cash back at the register is cheaper than an ATM
If you need cash, asking for it at a store checkout is almost always cheaper than using an ATM. Here is why: the store does not charge you a fee (in most cases), but the ATM operator charges $2 to $5 on top of your card issuer's fee. On a $100 withdrawal, store cash back might cost you just the card issuer's fee (3 to 5 percent, or $3 to $5), while an ATM could cost $6 to $10 before interest.
The catch is that you have to make a purchase. If you are buying groceries anyway, cash back is convenient and relatively cheap. If you are making a trip to the ATM just to get cash, you are paying extra for that convenience.
Alternatives to credit card cash advances
If you need cash regularly, a debit card is much cheaper. Withdrawals from your own bank's ATM are free, and withdrawals from other banks' ATMs usually cost $1 to $3 — far less than a credit card cash advance. Cash back at a store is also free with a debit card.
If you do not have a debit card, visit your bank or credit union in person and withdraw cash directly from your account. This is free and takes a few minutes. Some banks also offer cash back at partner ATMs or retailers at no charge if you are a member.
If you are considering a cash advance because you are short on money, look into whether you have other options first. A personal loan, a line of credit, or a balance transfer to a 0 percent introductory rate card might be cheaper than paying cash advance fees and high interest rates.
Frequently Asked Questions
Does cash back from a credit card hurt my credit score?
A cash advance itself does not directly hurt your score, but it increases your credit utilization (the amount of credit you are using compared to your limit). If you withdraw $500 on a $5,000 limit, your utilization jumps to 10 percent. High utilization can lower your score slightly. Paying off the cash advance quickly brings your utilization back down.
Can I use a credit card to withdraw cash from my own bank?
No. You can only withdraw cash from a credit card at an ATM or by asking a cashier for cash back during a purchase. You cannot walk into your bank and ask a teller to give you cash against your credit card. If you want to withdraw from your own account, use your debit card or ask the teller to process a withdrawal from your checking or savings account.
What happens if I do not pay back a cash advance?
The balance carries over to your next statement and interest continues to accrue at your cash advance rate. If you miss a payment, you may face late fees and your credit score can drop. The cash advance balance is treated like any other credit card debt — if you do not pay it, the issuer can report it to credit bureaus and eventually pursue collection.
Is there a grace period for cash advance interest?
No. Unlike regular purchases, which typically have a 21 to 25 day grace period before interest starts, cash advances begin accruing interest when ready. There is no way to avoid this interest, even if you pay the full amount back the next day.
Can I get a cash advance on a secured credit card?
Most secured cards do allow cash advances, but the terms vary by issuer. Check your card's terms or contact your issuer to confirm whether cash advances are available and what the fee and interest rate are. Secured cards often have higher cash advance fees than standard cards.