Getting cash from a credit card is possible but costs you money
You can take cash out of a credit card account using an ATM, at a bank teller window, or through a cash advance at a store. The process itself is straightforward — insert your card, enter your PIN, and withdraw the amount you need. But unlike a debit card withdrawal, every dollar you take out as cash triggers fees and interest charges that start accruing when ready, often at a higher rate than your regular purchase APR.
Before you withdraw, understand what you will pay. A typical cash advance fee runs 3 to 5 percent of the amount withdrawn, charged upfront. Interest on that cash starts the day you withdraw it — there is no grace period like there is for purchases. If your card charges 18 percent APR on purchases, the cash advance rate might be 22 or 25 percent. For a $500 withdrawal, you could pay $15 to $25 in fees alone, plus interest that compounds daily until you pay it back.
Key Takeaways
- Cash advances from a credit card charge an upfront fee (usually 3 to 5 percent) plus a higher interest rate than regular purchases, with interest starting when ready.
- You can withdraw cash at an ATM using your credit card PIN, at a bank teller window, or through a cash advance at a retail store.
- Your credit card statement will show the cash advance separately from purchases, and you must pay it down before the card pays off your regular purchases.
- If you need cash regularly, a debit card, personal loan, or line of credit will cost you far less than repeated credit card cash advances.
Withdrawing cash at an ATM with your credit card
Find an ATM that accepts your card's network — Visa, Mastercard, American Express, or Discover. Most bank ATMs and many independent ATMs display logos showing which cards they take. Insert your credit card into the slot, then enter your PIN when prompted. If you do not have a PIN, contact your card issuer before you go to the ATM; you will need one to withdraw cash.
Select "Withdrawal" or "Cash Advance" from the menu, then enter the amount. The ATM will show you the fee it charges (this is separate from your card issuer's fee) and ask you to confirm. After you confirm, the ATM dispenses the cash and returns your card. Your card issuer will add their own cash advance fee to your statement within a few days, along with the ATM operator's fee if applicable.
ATM fees vary widely. Your card issuer typically charges 3 to 5 percent of the amount withdrawn. The ATM operator may charge an additional $2 to $5 flat fee, or a percentage of the withdrawal. A $200 withdrawal could cost you $10 to $15 in combined fees before interest kicks in.
Getting a cash advance at a bank teller window
Walk into any bank branch that accepts your card's network and ask the teller for a cash advance. Bring your credit card and a form of ID. The teller will process the transaction at the counter, and you will receive cash when ready. This method avoids ATM fees charged by independent operators, though your card issuer's cash advance fee still applies.
Bank tellers can sometimes process larger amounts than ATMs allow, which is useful if you need several hundred dollars. The teller will ask how much you want and may ask why, though they are not required to deny you based on your answer. The transaction appears on your statement the same day or the next business day.
Cash advances at retail stores and payment centers
Some grocery stores, pharmacies, and check-cashing services offer cash advances on credit cards. You hand over your card and ID, tell them the amount, and they give you cash. Fees vary by location — some charge a flat fee ($3 to $5), others charge a percentage. Your card issuer's cash advance fee still applies on top of the store's fee.
This option is useful if you are already at a store and need cash quickly, but it is rarely cheaper than an ATM. Always ask the store what they charge before you hand over your card. Some stores have minimum withdrawal amounts ($20 or $50) or maximum limits.
Understanding cash advance fees and interest
Your card issuer charges a cash advance fee upfront, usually 3 to 5 percent of the amount withdrawn. A $300 cash advance costs $9 to $15 in fees alone. This fee is added to your balance when ready and you owe it whether you pay back the cash advance in full or carry it month to month.
Interest on cash advances starts the day you withdraw the money — there is no grace period. If your card's cash advance APR is 24 percent and you withdraw $300, you owe roughly $6 in interest after the first month if you make no payment. That interest compounds daily. Most card issuers explore your monthly payment to purchases first, then to cash advances, so the cash advance balance can sit and accrue interest for months.
Check your card's terms to find the cash advance APR, which is usually higher than your purchase APR. Some cards charge 22 to 28 percent on cash advances. The fee and interest together make cash advances one of the most expensive ways to borrow money on a credit card.
How cash advances appear on your statement
Your credit card statement breaks down cash advances separately from purchases. You will see a line item labeled "Cash Advance" or "ATM Withdrawal" with the amount, the date, and the fee charged. The interest accrued on that cash advance appears as a separate charge, usually labeled "Cash Advance Interest" or "Interest Charge — Cash Advance."
If you make a payment to your card, the payment is applied to your purchase balance first, then to any cash advance balance. This means if you owe $500 in purchases and $300 in cash advances, and you send in a $400 payment, the $400 goes toward the $500 in purchases, leaving $100 in purchases unpaid and the full $300 cash advance still accruing interest. Pay down cash advances aggressively if you want to stop the interest from compounding.
Cheaper alternatives to credit card cash advances
If you need cash regularly, a debit card linked to a checking account costs nothing to use. You withdraw cash at any ATM in your bank's network for free, or at a teller window. If you do not have a checking account, opening one takes 15 minutes at any bank branch and usually costs nothing.
If you need to borrow money, a personal loan from a bank or credit union typically charges 6 to 36 percent APR depending on your credit score, with no upfront fees. A $300 personal loan at 15 percent APR costs roughly $23 in interest over one year — far less than a credit card cash advance. A line of credit works similarly and lets you borrow only what you need.
If you are in a tight spot and need cash for an emergency, contact your card issuer about a balance transfer to a card with a lower APR, or ask about a hardship program. Some issuers offer temporary rate reductions or fee waivers if you explain your situation.
Frequently Asked Questions
Do I need a PIN to withdraw cash from my credit card?
Yes, you need a PIN to use an ATM. If you do not have one, call your card issuer and request a PIN before you go to the ATM. You do not need a PIN to get a cash advance at a bank teller or retail store — just your card and ID.
Can I withdraw more cash than my credit limit?
No. Your cash advance is limited by your available credit, just like a purchase. If your credit limit is $1,000 and you have used $700, you can withdraw up to $300 in cash. Some issuers set a separate, lower cash advance limit — check your card terms or call the issuer to find out yours.
How long does it take for a cash advance to show up on my statement?
Most cash advances appear on your statement within one to three business days. Interest starts accruing the day you withdraw the cash, even if it has not shown up on your statement yet. ATM withdrawals usually post faster than retail store cash advances.
What happens if I do not pay back a cash advance?
The cash advance balance stays on your card and interest keeps accruing at your cash advance APR. If you miss payments, your card issuer may report the missed payment to credit bureaus, which damages your credit score. After 30 days of missed payments, the issuer may freeze your account or send the debt to collections.
Can I transfer a cash advance balance to another card?
Most balance transfer offers exclude cash advances — they only explore to purchases. Check the terms of any balance transfer offer before you assume you can move a cash advance. Some issuers allow it but charge a separate balance transfer fee on top of the cash advance fee you already paid.