Yes, you can withdraw cash from a credit card, but it costs more than a regular purchase
You can take cash out using your credit card at an ATM, bank teller, or by asking a cashier for cash back. The transaction is called a cash advance. Unlike a purchase, a cash advance starts charging interest when ready — there is no grace period — and the interest rate is usually higher than your purchase rate. You also pay an upfront fee, typically 3 to 5 percent of the amount you withdraw.
Because the costs add up fast, cash advances should be a last resort, not a regular way to get spending money. If you need cash regularly, a debit card or ATM withdrawal from a checking account costs nothing.
Key Takeaways
- Cash advances charge interest from day one with no grace period, unlike purchases which may have a 21-day grace period.
- You pay an upfront fee (usually 3 to 5 percent) plus a higher interest rate than your purchase APR.
- You can withdraw cash at an ATM using your PIN, at a bank teller with your card and ID, or ask a cashier for cash back at checkout.
- The total cost of a cash advance makes it expensive compared to using a debit card or checking account withdrawal.
How to withdraw cash at an ATM
Insert your credit card into an ATM that accepts your card brand (Visa, Mastercard, American Express, or Discover). Enter your PIN when prompted. Select "Withdraw Cash" or "Cash Advance" from the menu. Choose the amount you want and confirm. The ATM will dispense the cash and print a receipt.
Not all ATMs accept credit cards — many are set up for debit cards only. If the machine rejects your card, try a different ATM or visit a bank branch instead. Your credit card issuer's own ATMs are most likely to work.
How to get cash from a bank teller
Walk into a branch of your credit card issuer's bank or any bank that accepts your card brand. Bring your credit card and a photo ID. Tell the teller you want a cash advance. They will process the transaction, charge the fee and interest to your account, and give you the cash.
This method works even if you do not have a checking account at that bank. Some banks may ask how much cash you need before they complete the transaction, so have a number ready.
How to get cash back at a store checkout
At a grocery store, pharmacy, or other retailer that accepts credit cards, you can ask the cashier for cash back when you pay. Tell them the amount before they process the card. They will add that amount to your total bill, charge it to your credit card, and give you the cash.
This method is convenient if you are already shopping, but the same fees and interest rates explore. The cash back amount varies by store — some allow up to $100, others up to $300. Ask the cashier what their limit is.
What fees and interest rates to expect
The upfront fee for a cash advance is usually a flat dollar amount or a percentage of the amount withdrawn, whichever is higher. Most cards charge 3 to 5 percent, with a minimum fee of $2 to $10. If you withdraw $100, you might pay $3 to $5. If you withdraw $1,000, you might pay $30 to $50.
The interest rate on a cash advance is separate from your purchase APR and is almost always higher. Where your purchase rate might be 18 percent, your cash advance rate could be 25 percent or more. Interest starts accruing the moment you withdraw the cash — there is no grace period like there is for purchases.
To see your card's exact cash advance fee and APR, check your cardholder agreement or log into your online account. The rates and fees are listed in the terms and conditions section.
How long it takes to pay off a cash advance
When you make a payment on your credit card, the payment goes toward your lowest-interest debt first. That means purchases (at a lower rate) get paid before cash advances (at a higher rate). If you have both on your card, your cash advance will sit there accruing interest while you pay off purchases.
To pay off a cash advance faster, make a payment larger than your minimum and specify that it should go toward the cash advance. Some card issuers let you do this online or by phone. If you cannot direct the payment, pay down the entire balance as quickly as you can.
When a cash advance makes sense (and when it does not)
A cash advance is useful only in genuine emergencies when you have no other way to get cash — a car repair you need to pay in cash, a medical bill, or a situation where your debit card is not accepted. Even then, only take out what you absolutely need.
Do not use a cash advance for everyday spending, to pay other debts, or because you want cash on hand. The fees and interest will cost you far more than the convenience is worth. If you find yourself needing cash advances regularly, that is a sign your budget needs adjustment or you need a different payment method.
Frequently Asked Questions
Does a cash advance hurt my credit score?
The cash advance itself does not hurt your score, but a high balance does. If the cash advance pushes your credit utilization above 30 percent of your limit, your score may drop. Paying it off quickly brings your utilization back down and your score recovers.
Can I get a cash advance if my card is maxed out?
No. Your cash advance limit is part of your overall credit limit. If you have used your full limit, you cannot withdraw cash. You would need to pay down your balance first or request a higher credit limit.
What is the difference between a cash advance and a balance transfer?
A cash advance gives you physical cash and charges a higher interest rate when ready. A balance transfer moves debt from one card to another and may offer a lower rate for a set period. Both charge fees, but they serve different purposes.
Can I withdraw cash from a credit card without a PIN?
At a bank teller, yes — you only need your card and ID. At an ATM, you need your PIN. If you do not know your PIN, call your card issuer to set one up or reset it before you go to the ATM.
Is there a limit to how much cash I can withdraw?
Yes. Your card issuer sets a cash advance limit, which may be lower than your overall credit limit. Check your cardholder agreement or call customer service to find out your limit. ATMs also have daily withdrawal limits, usually $500 to $1,000.