The three ways to withdraw cash using your credit card
You can get cash from your credit card in three ways: at an ATM using your PIN, over the counter at a bank branch, or through a cash advance at a store. Each method charges you a fee and starts charging interest when ready — there is no grace period like there is for purchases. The interest rate is usually higher than your purchase rate, sometimes by several percentage points.
Before you withdraw, understand that the card issuer treats this as a loan, not a purchase. You begin paying interest the day you take the cash, even if you pay the full balance when your statement arrives. Most people should explore other options first — a personal loan, a line of credit, or borrowing from family — because those usually cost less.
Key Takeaways
- Cash advances charge a fee (usually 3 to 5 percent of the amount) plus a higher interest rate than purchases, with interest starting when ready.
- You can withdraw cash at an ATM using your PIN, at a bank teller window, or through a cash advance at a retail store.
- Your credit card company sets a separate cash advance limit, which may be lower than your overall credit limit.
- The interest you pay on a cash advance does not count toward your rewards or cashback, even if your card normally earns them on purchases.
Withdrawing cash at an ATM
This is the fastest method. Insert your card into any ATM that displays your card network's logo (Visa, Mastercard, American Express, or Discover), enter your PIN, select "Withdrawal" or "Cash Advance," and choose your amount. The machine will dispense the cash and print a receipt showing the fee charged.
The fee is typically a flat dollar amount (often $3 to $5) or a percentage of the withdrawal (usually 3 to 5 percent), whichever is higher. Some card issuers charge both. The ATM operator may also charge a separate fee on top of your card issuer's fee — you will see this warning on the ATM screen before you confirm the withdrawal.
Your card issuer sets a daily ATM withdrawal limit, which is separate from your overall credit limit. This limit might be $500, $1,000, or another amount depending on your card and account history. If you need more cash than your limit allows, you will have to wait until the next day or use one of the other methods.
Getting cash over the counter at a bank
Walk into any bank branch that accepts your card network and ask the teller for a cash advance. Bring your card and a photo ID. The teller will process the transaction at the counter, charge you the same fee as an ATM withdrawal, and hand you the cash.
This method works even if you do not have a PIN set up on your card, which can be useful if you have not used your card at an ATM before. The teller can also process larger amounts than many ATMs allow, though your card's cash advance limit still applies. Ask the teller what that limit is before you request the cash — they can look it up in seconds.
Cash advances at retail stores
Some stores let you request a cash advance when you swipe your credit card at checkout. This is less common than it used to be, but grocery stores, pharmacies, and some gas stations still offer it. You typically have to make a purchase first, then ask the cashier if you can add cash back to your transaction.
The store may charge a small fee (often $1 to $3) in addition to your card issuer's fee. The total cost is usually lower than an ATM withdrawal, but availability varies widely by store and location. Call ahead or ask at the register whether the store offers this service.
Understanding cash advance fees and interest
Your card issuer charges a cash advance fee upfront — typically 3 to 5 percent of the amount you withdraw. On a $500 withdrawal, that is $15 to $25 before you have even spent the money. This fee appears on your next statement.
Interest begins accruing the same day you withdraw the cash. Unlike purchases, which often have a 21 to 25-day grace period before interest kicks in, cash advances have no grace period. If your cash advance APR is 24 percent and you withdraw $500, you will owe about $10 in interest after one month if you have not paid it back.
The cash advance APR is usually 5 to 10 percentage points higher than your purchase APR. If your card charges 18 percent on purchases, the cash advance rate might be 24 or 28 percent. Check your card's terms or call the issuer to find out your specific rates before you withdraw.
Your cash advance limit versus your credit limit
Your card issuer sets a separate cash advance limit, which is often much lower than your overall credit limit. If your credit limit is $5,000, your cash advance limit might be $1,000 or $1,500. This limit is not something you control — the issuer decides it based on your credit history and account activity.
You can call your card issuer and ask what your cash advance limit is. Some issuers let you request an increase, though this is not may provide. The limit resets each month, so if you withdraw $500 on the first of the month, that $500 counts against your limit until your statement closes.
How cash advances affect your credit and rewards
A cash advance does not hurt your credit score directly, but it does increase your credit utilization — the percentage of your available credit you are using. If you have a $5,000 limit and take a $1,000 cash advance, your utilization jumps to 20 percent. High utilization can lower your credit score temporarily, especially if you carry the balance for several months.
Cash advances do not earn rewards or cashback, even if your card normally earns them on all purchases. If your card offers 2 percent cashback, you will not earn that on a cash advance. You pay the fee and interest with no reward to offset the cost.
Frequently Asked Questions
Can I use a credit card cash advance to pay another credit card bill?
Technically yes, but it is expensive and usually a sign you need help managing debt. You will pay the cash advance fee plus a higher interest rate, and you will not earn any rewards. If you are considering this, contact a nonprofit credit counselor instead — many offer free information on consolidation and payment plans.
What happens if I do not pay back a cash advance?
The balance carries over to your next statement with interest added. If you miss the minimum payment, your card issuer will report it to the credit bureaus, which damages your credit score. After 30 days late, you may face a late fee. After 180 days, the issuer may close your account and send the debt to a collection agency.
Is a cash advance the same as a balance transfer?
No. 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 low or 0 percent introductory rate for a set period. Balance transfers are for existing debt; cash advances are for getting cash.
Can I get a cash advance if my credit 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 take a cash advance until you pay down the balance. You can call your issuer to request a credit limit increase, but that requires a new process and is not may provide.
Do I have to use my PIN to get a cash advance?
Only at an ATM. At a bank teller window or retail store, you can use your card without a PIN — you just need a photo ID. If you have never set a PIN on your card, you can still get cash at a bank or store, but you will need to set one up first if you want to use an ATM.