Free, helpful information about Card Guides and related How To Take Cash From Credit Card topics.
Get clear and easy-to-understand details about How To Take Cash From Credit Card topics and resources.
Answer a few optional questions to receive offers or information related to Card Guides. The survey is optional and not required to access your free guide.
Taking cash from a credit card is possible, but it's important to understand exactly what you're doing and what it will cost you. This isn't the same as withdrawing money from a checking or savings account—it's a short-term loan that your card issuer charges you for immediately. 💳
A cash advance is a transaction where you borrow money directly from your credit card's available credit and receive it as cash. Unlike a purchase, which is charged to your account and billed later, a cash advance starts accruing interest the moment you withdraw it—there's typically no grace period. You're also borrowing against your credit limit, which reduces the amount available for regular purchases.
ATM Withdrawal
You can use your credit card at most ATMs just like a debit card. Insert the card, enter your PIN (which you may need to set up with your issuer if you haven't already), and request cash. This is the most straightforward method.
Bank Teller or Branch
Walk into any bank or credit union branch, including your card issuer's locations, and request a cash advance. A teller will process it for you on the spot.
Cash Back at Retailers
Some stores allow you to request cash back when you use your credit card at checkout. The amount available typically depends on the retailer's policies.
Money Transfer Services
Third-party services like MoneyGram or Western Union accept credit cards to send cash to yourself or someone else, though fees may be higher than direct ATM withdrawals.
Every cash advance comes with two main charges that vary by card:
| Cost Factor | What It Means |
|---|---|
| Cash Advance Fee | A one-time percentage (typically 3–5% of the amount withdrawn) or flat dollar amount, charged immediately |
| Interest Rate | Usually higher than your card's standard purchase APR; may range from higher single digits to 25%+ depending on your creditworthiness and card terms |
| No Grace Period | Interest starts accruing from day one, unlike purchases that may have a 20–30 day grace period |
A $300 cash advance with a 4% fee and 20% APR could cost you $12 upfront plus roughly $5 in interest charges the first month alone. Those costs add up quickly if you carry the balance.
When someone might use a cash advance: Emergency expenses (medical bills, urgent repairs) when no other funding is immediately available, or situations where a business or person only accepts cash.
Why the costs matter: Cash advances are one of the most expensive ways to borrow money. If you're considering this because you need cash regularly or for expected expenses, exploring alternatives—like requesting a higher credit limit, opening a line of credit, or using a savings account—usually costs far less over time.
Before you proceed, check your card's terms or contact your issuer directly to confirm your specific cash advance fee, interest rate, and any withdrawal limits. That information is the only accurate input for calculating your actual cost.
