Getting cash from your credit card
You can withdraw cash from your credit card at an ATM using your card's PIN, or by asking a bank teller for a cash advance at a branch. The money comes from your credit line, not a separate account, which means you start paying interest when ready — usually at a higher rate than your regular purchase APR. Most cards charge an upfront fee (typically 3 to 5 percent of the amount withdrawn) on top of that interest.
The process itself takes minutes. The cost and speed of repayment are what matter. If you need cash, comparing a credit card cash advance to other options — a personal loan, a line of credit, or borrowing from someone you know — will show you whether this is the cheapest route.
Key Takeaways
- Cash advances charge interest from day one with no grace period, unlike purchases, and the interest rate is usually 2 to 5 percentage points higher than your card's regular APR.
- You pay an upfront fee (typically 3 to 5 percent of the cash amount) the moment you withdraw, added to your balance when ready.
- You can get cash at any ATM using your PIN, or at a bank branch by showing your card and ID to a teller.
- Repayment goes toward your regular card balance first, so cash advance interest keeps accruing until the entire card is paid off.
- A personal loan or line of credit often costs less than a cash advance if you have time to research other options.
Getting cash at an ATM with your card
Insert your credit card into any ATM that displays your card's logo (Visa, Mastercard, American Express, or Discover). Enter your PIN — the same four-digit code you use for debit transactions. Select "Withdrawal" or "Cash Advance" from the menu. Enter the amount you want and confirm. The ATM will dispense the cash and print a receipt showing the transaction fee.
Your card issuer sets a daily limit on how much you can withdraw. This limit is often lower than your credit limit — sometimes $500 or $1,000 per day, sometimes higher. Check your card's terms or call the customer service number on the back of your card to find out your specific limit before you go to the ATM.
If you do not have a PIN set up yet, you will need to create one before you can use an ATM. Call your card issuer or log into your online account to set a PIN. This usually takes a few minutes and can be done over the phone or through the card's app.
Getting cash over the counter at a bank branch
Walk into any branch of your card issuer's bank (or sometimes any bank that accepts your card) and tell the teller you want a cash advance. Bring your credit card and a photo ID. The teller will process the transaction, charge your fee, and hand you the cash. This method works the same way as an ATM but gives you a chance to ask questions about your limit or the fee before the transaction goes through.
Some banks allow you to request a cash advance at branches that are not your card issuer's bank, but this is less common and may carry an additional fee. Call ahead to confirm the branch accepts cash advances on your card type.
Understanding the costs of a cash advance
A cash advance fee is charged the moment you withdraw the money. This fee is usually 3 to 5 percent of the amount you take out, with a minimum fee (often $5 to $10). If you withdraw $500, expect to pay $15 to $25 in fees alone. This amount is added to your credit card balance right away.
Interest starts accruing when ready on the cash advance amount. There is no grace period like there is for purchases. If your regular purchase APR is 18 percent, your cash advance APR might be 23 or 25 percent. The interest compounds daily, so the longer you carry the balance, the more you pay.
When you make a payment on your card, the payment goes toward your lowest-interest balance first — usually your regular purchases. This means cash advance interest keeps building while you pay down other charges. If you have both a purchase balance and a cash advance balance, the cash advance interest will not stop until the entire card is paid off.
How much you can withdraw
Your card issuer sets a cash advance limit, which is separate from your credit limit. This limit might be $500, $1,000, $2,000, or higher depending on your card, your credit history, and your issuer's policies. You cannot withdraw more than this limit in a single day, and some cards have a lower limit per transaction.
To find your cash advance limit, log into your online account, call the customer service number on your card, or check your most recent statement. Some card issuers show this limit in your account dashboard; others require you to ask directly.
If you need more cash than your limit allows, you have two options: wait until the next day and withdraw again (if your daily limit resets), or use a different payment method. Repeatedly hitting your cash advance limit in a short time can trigger fraud alerts or prompt your issuer to lower your limit.
Comparing cash advances to other ways to borrow
A personal loan from a bank or credit union often has a lower interest rate than a credit card cash advance, especially if you have decent credit. Personal loans also have a fixed repayment schedule, so you know exactly when the debt will be paid off. The downside is that a personal loan takes a few days to a week to fund, so it does not work if you need cash today.
A line of credit works similarly to a personal loan but lets you borrow only what you need and pay interest only on what you use. Again, this is usually cheaper than a cash advance but slower to set up.
If you have a debit card linked to a savings account with money in it, that is always the cheapest option — no interest, no fees. If you have a friend or family member who can lend you money, that is often interest-free and faster than any formal loan.
A payday loan or title loan is faster than a personal loan but typically costs much more than a credit card cash advance. Avoid these unless you have exhausted every other option.
What happens after you withdraw the cash
The cash advance amount and fee appear on your next credit card statement. The balance is treated like any other charge on your card — you can pay it in full, make a minimum payment, or pay something in between. Whatever you do not pay accrues interest at your cash advance APR.
If you pay only the minimum, most of that payment goes toward interest, not the principal. A $500 cash advance with a $15 fee (total $515) could take months to pay off if you only make minimum payments, and you could end up paying $100 or more in interest alone.
To avoid this, pay the cash advance balance as quickly as you can. If you can pay it back within a week or two, the interest cost stays low. The longer you carry it, the more expensive it becomes.
Frequently Asked Questions
Can I use a credit card cash advance to pay another credit card bill?
Technically yes, but it is almost never a good idea. You would pay the cash advance fee (3 to 5 percent), start paying interest when ready at a higher rate, and gain nothing except more debt. If you are trying to move a balance to a lower-rate card, look into a balance transfer offer instead, which usually has a lower fee and a promotional interest rate.
What if I do not know my PIN?
Call your card issuer's customer service number (on the back of your card) and ask them to reset your PIN or send you a new one. You can usually set a new PIN over the phone or through your online account. This takes a few minutes and must be done before you can use an ATM.
Does a cash advance hurt my credit score?
A cash advance itself does not hurt your score, but carrying a high balance does. If the cash advance pushes your total credit card balance close to your credit limit, your credit utilization ratio goes up, which can lower your score. Paying it off quickly keeps this damage minimal.
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 entire credit limit, you cannot withdraw any cash. You would need to pay down your balance first or request a credit limit increase from your issuer.
What is the difference between a cash advance and a balance transfer?
A balance transfer moves debt from one card to another (usually with a lower promotional rate). A cash advance withdraws money from your credit line as actual cash. Balance transfers are for moving existing debt; cash advances are for getting spending money. Cash advances cost more in fees and interest.