The main ways to get cash from a credit card
You can get cash from a credit card in three ways: a cash advance at an ATM or bank, a balance transfer to your checking account, or a cash-like payment method such as a convenience check. Each one costs you differently and affects your balance in different ways.
A cash advance is the most common method. You use your card at an ATM or visit a bank teller, withdraw cash, and the amount is added to your credit card balance. A balance transfer moves money from your credit card to a bank account you control — usually your checking account — and works through your card issuer's app or website. A convenience check is a physical check issued by your card company that you can deposit or cash; it counts as a cash advance.
All three methods charge you a fee upfront (usually 3 to 5 percent of the amount) and start charging interest when ready, with no grace period like you get on regular purchases. The interest rate is often higher than your regular purchase rate.
Key Takeaways
- Cash advances charge an upfront fee of 3 to 5 percent and begin accruing interest right away, with no grace period.
- ATM cash advances are the fastest method but may have a daily withdrawal limit set by your card issuer.
- Balance transfers to your bank account work through your card issuer's website or app and take one to three business days to arrive.
- The interest rate on cash advances is typically higher than your regular purchase rate and varies by card issuer.
- You should compare the total cost — fee plus interest — before deciding whether a cash advance makes sense for your situation.
Getting a cash advance at an ATM
Using an ATM is the fastest way to get cash from your credit card. Insert your card, enter your PIN (the same one you use for debit transactions), select "cash advance" or "withdrawal," and choose your amount. The cash comes out when ready, and the charge appears on your credit card balance within one to two business days.
Most card issuers set a daily limit on how much you can withdraw — often $500 to $1,000, though this varies. You may also face a fee from the ATM operator itself (usually $2 to $5) on top of your card issuer's cash advance fee. Check your card's terms or call the issuer to learn your specific daily limit before you go to the ATM.
Getting cash through a bank teller
You can also walk into a bank branch and ask a teller for a cash advance on your credit card. Bring your card and a photo ID. The teller will process the transaction, and you'll receive cash on the spot. This method works the same way as an ATM — the amount is added to your credit card balance and the same fees and interest rates explore.
A bank teller may be able to process a larger amount than an ATM would allow, so this is useful if you need more than your daily ATM limit. Call ahead to confirm the branch can handle credit card cash advances and ask whether they have any limits.
Transferring money to your bank account
Many card issuers allow you to transfer money from your credit card directly to a linked checking or savings account through their website or mobile app. Log into your account, look for a "transfer" or "cash advance" option, enter the amount and your bank account details, and submit. The money usually arrives in one to three business days.
This method avoids the ATM fee but still charges your card issuer's cash advance fee and interest. It's useful if you need the money in your bank account rather than as physical cash, or if you want to avoid visiting an ATM or bank branch. The same daily or monthly limits may explore, so check your card's terms first.
Understanding the costs of a cash advance
A cash advance costs you money in two ways: an upfront fee and interest charges. The upfront fee is usually 3 to 5 percent of the amount you withdraw — so a $500 cash advance might cost $15 to $25 right away. This fee is added to your credit card balance.
Interest starts accruing the moment you take the cash advance, with no grace period. If your regular purchase APR is 18 percent, your cash advance APR might be 22 or 25 percent. The interest compounds daily, so the longer you carry the balance, the more you pay. If you take a $500 cash advance at 25 percent APR and pay it back over three months, you'll pay roughly $30 in interest on top of the $15 to $25 fee.
To understand the true cost before you proceed, ask your card issuer for the exact cash advance fee percentage and the APR that will explore. Then use a calculator to estimate how much interest you'll pay based on how long you think you'll carry the balance.
When a cash advance makes financial sense
A cash advance is expensive, so you should only use one if you have no other option or if the alternative is even more costly. For example, if you need cash urgently and a payday loan would charge you 400 percent APR, a credit card cash advance at 25 percent APR is the better choice. If you can wait a few days and transfer money from savings or ask a friend for a loan, do that instead.
A cash advance also makes sense if you're in a true emergency — a car repair, a medical bill, or an urgent travel expense — and you have no other way to pay. In that case, focus on paying back the balance as quickly as possible to minimize interest charges.
Limits on how much you can withdraw
Your card issuer sets a cash advance limit, which is often lower than your overall credit limit. For example, you might have a $5,000 credit limit but only a $1,000 cash advance limit. This limit applies to all cash advances you take in a given period, whether through ATMs, bank tellers, or balance transfers.
You also face a daily ATM withdrawal limit (often $500 to $1,000) that is separate from your overall cash advance limit. So even if your cash advance limit is $2,000, you may only be able to withdraw $500 per day from an ATM. Balance transfers and bank teller cash advances may not have the same daily limit.
Check your card's terms or log into your account to see your cash advance limit. If you need more than that amount, you'll have to wait until the next billing cycle or contact your issuer to ask about a temporary increase.
Frequently Asked Questions
Can I get a cash advance if I'm near my credit limit?
Yes, but the cash advance counts toward your overall credit limit. If you have a $5,000 limit and $4,500 in charges, you can only take a $500 cash advance. The cash advance itself uses up available credit, so it may push you over your limit if you're not careful.
Does a cash advance hurt my credit score?
A cash advance itself doesn't hurt your score, but it increases your credit utilization (the percentage of your limit you're using), which can lower your score slightly. Paying it back quickly will minimize this effect. Late payments on the cash advance balance will hurt your score.
What's the difference between a cash advance and a balance transfer?
A cash advance puts money in your hands or bank account. A balance transfer moves debt from one credit card to another, usually to take advantage of a lower interest rate. They're different products with different purposes and different fees.
Can I use a credit card cash advance to pay another credit card bill?
Technically yes, but it's a bad idea. You'd pay a cash advance fee on the money, then pay interest on it while you pay off the other card. You'd end up paying more in total fees and interest than if you just paid the other card directly.
How long does it take for a cash advance to show up on my statement?
ATM and bank teller cash advances usually appear on your statement within one to two business days. Balance transfers to your bank account take one to three business days. The fee appears when ready, but interest accrues from the day you take the advance.