Three ways to get cash from your credit card
You can get cash from a credit card in three ways: a cash advance at an ATM using your PIN, a balance transfer to your bank account, or a cash-like transaction at a store or bank. Each method costs you differently and shows up differently on your bill. A cash advance is the fastest but the most expensive — you pay a fee upfront (usually 3 to 5 percent of the amount) plus a higher interest rate than regular purchases, often 25 percent or more. A balance transfer to your bank account works similarly but may have a slightly lower fee. A cash-like purchase at a store (sometimes called a "convenience check" or using your card to buy a money order) avoids the cash advance label but still costs a fee and higher interest.
The key difference is that cash advances and balance transfers start charging interest when ready — there is no grace period like there is for regular purchases. Interest begins accruing the day you take the cash, even if you pay your full balance by the due date. This makes getting cash from a credit card expensive compared to using a debit card or withdrawing from a bank account.
Key Takeaways
- A cash advance at an ATM is the fastest method but charges a fee (3 to 5 percent) plus a higher interest rate that starts when ready.
- Balance transfers to your bank account work similarly to cash advances and carry the same fees and interest structure.
- Interest on cash advances begins the day you withdraw, with no grace period, so the total cost grows quickly if you carry a balance.
- Check your credit card's terms before attempting a cash advance, because some cards limit how much you can withdraw or may block the transaction.
Getting a cash advance at an ATM
To withdraw cash at an ATM, you need your credit card and your PIN. If you do not have a PIN yet, call the number on the back of your card and ask the issuer to set one up — this usually takes a few minutes. Walk to any ATM that displays your card's logo (Visa, Mastercard, American Express, or Discover), insert your card, enter your PIN, select "cash advance" or "withdraw cash," and choose your amount.
The ATM will show you the fee before you confirm — this is typically $3 to $10 plus a percentage of the amount you are withdrawing. The percentage fee (usually 3 to 5 percent) is charged by your credit card issuer, not the ATM operator. So a $500 cash advance might cost you $15 to $25 in fees alone, plus interest starting that day. The money appears in your hand when ready, but the charge shows on your credit card bill within one or two business days.
Your credit card issuer sets a cash advance limit, which is often lower than your overall credit limit. You might have a $5,000 credit limit but only a $1,500 cash advance limit. Call the issuer or log into your online account to check your limit before you go to the ATM.
Transferring your credit card balance to your bank account
Some credit card issuers let you transfer your credit card balance directly to a checking or savings account. This is not the same as a balance transfer between credit cards — it is moving credit card debt into cash in your bank account. You start the process through your online account or by calling the issuer's customer service line.
The issuer will ask which bank account you want the money sent to and how much you want transferred. They will confirm the fee (usually the same 3 to 5 percent as a cash advance) and the interest rate. The money typically arrives in your bank account within one to three business days. Like a cash advance, interest starts accruing when ready, and there is no grace period.
Not all issuers offer this feature, and some limit how often you can do it or cap the amount. Check your cardholder agreement or call customer service to see if your card supports balance transfers to a bank account.
Using convenience checks or money orders
Some credit card issuers mail you convenience checks that you can write like regular checks. You write a check to yourself, deposit it into your bank account, and the amount is charged to your credit card. This method avoids the "cash advance" label, but the issuer still charges a fee and a higher interest rate — often the same as a cash advance.
Money orders work similarly: you buy a money order using your credit card (at a store, bank, or post office), then deposit it into your bank account. The purchase is treated as a cash advance on your credit card statement, with the same fees and interest rate.
These methods take longer than an ATM withdrawal because the check or money order has to clear through the banking system. You also lose the ability to reverse the transaction if you change your mind, since the check or money order is already in the system.
Fees and interest rates you will pay
Every method of getting cash from a credit card charges you a fee upfront. This fee is a percentage of the amount you withdraw, usually 3 to 5 percent, though some cards charge a flat fee of $5 to $10 instead. A few cards charge both a percentage and a flat fee. The fee is added to your credit card balance when ready.
The interest rate on cash advances is separate from your regular purchase rate. Most cards charge 25 to 30 percent APR on cash advances, compared to 15 to 25 percent on regular purchases. This higher rate applies only to the cash advance portion of your balance, not to any regular purchases you make. Interest accrues daily starting the day you withdraw the cash, so the longer you carry the balance, the more you pay.
To see your card's exact cash advance fee and interest rate, check your cardholder agreement or log into your online account. The issuer is required to disclose both figures before you complete the transaction.
Limits on how much you can withdraw
Your credit card issuer sets a separate cash advance limit that is often much lower than your overall credit limit. This limit protects the issuer from large cash withdrawals and protects you from overspending. You might have a $10,000 credit limit but only a $2,000 cash advance limit.
The limit applies across all methods — ATM withdrawals, balance transfers to your bank, and convenience checks all count toward the same cap. Once you hit your cash advance limit, you cannot withdraw more cash until you pay down the balance.
If you need to withdraw more than your limit allows, you can call the issuer and ask for a temporary increase. Some issuers will grant this, but it is not may provide. Check your current limit by logging into your account or calling the number on the back of your card.
Why you should avoid getting cash from a credit card
Getting cash from a credit card is one of the most expensive ways to borrow money. The combination of an upfront fee, a higher interest rate, and no grace period means you start paying interest when ready on the full amount. If you withdraw $500 and carry it for a month, you will pay roughly $10 to $25 in fees plus $10 to $12 in interest — a total of $20 to $37 for borrowing $500 for 30 days.
A personal loan, a line of credit, or even a payday loan (though also expensive) often costs less than a credit card cash advance. If you need cash, explore other options first: borrowing from family, using a debit card to withdraw from your bank account, or taking out a personal loan at a lower rate.
The only time a cash advance makes sense is in a genuine emergency when you have no other option and you plan to pay it back within a few days. Even then, the cost is high, so use it only as a last resort.
Frequently Asked Questions
Can I get a cash advance if I have a low credit limit?
Yes, but your cash advance limit is usually a percentage of your overall credit limit — often 20 to 50 percent. So if your credit limit is $500, your cash advance limit might be $100 to $250. Call your issuer to find out your exact limit.
Does a cash advance hurt my credit score?
A cash advance itself does not hurt your score, but carrying a high balance does. If you withdraw cash and do not pay it back quickly, your credit utilization ratio goes up, which can lower your score. Paying the balance in full within a month or two minimizes this damage.
What happens if I cannot pay back a cash advance?
The balance stays on your credit card and interest continues to accrue at the higher cash advance rate. If you miss payments, late fees are added and your credit score drops. Contact your issuer to discuss a payment plan if you are struggling.
Can I use a credit card cash advance to pay another credit card bill?
Technically yes, but it is a bad idea. You are paying a cash advance fee and interest rate to borrow money just to pay another card's balance. A balance transfer between cards (if your issuer offers it) is cheaper, or paying from your bank account is free.
Is there a way to get cash from my credit card without paying a fee?
No. Every method of getting cash from a credit card — ATM withdrawal, balance transfer, convenience check, or money order — charges a fee. Your only option to avoid the fee is to use a debit card or withdraw from your bank account instead.