The three 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, a balance transfer check, or a cash-like transaction at a bank teller. Each one costs you money when ready and charges interest from day one — there is no grace period like there is for purchases. A cash advance at an ATM is the fastest but most expensive. A balance transfer check takes a few days to arrive but may have a lower interest rate. A bank teller withdrawal is straightforward but only works at your card issuer's own branches.
Before you use any of these methods, understand that credit card companies treat cash differently from regular purchases. You will pay a cash advance fee (usually 3 to 5 percent of the amount you withdraw, with a minimum of $5 to $10), plus a higher interest rate than your purchase rate. That interest starts accruing when ready — not after a billing cycle like a purchase would. If you need cash, a personal loan or a line of credit from your bank will almost always cost less.
Key Takeaways
- Cash advances charge a fee (typically 3 to 5 percent) plus a higher interest rate than purchases, with interest starting when ready.
- ATM withdrawals are the fastest method but the most expensive, while balance transfer checks arrive in a few days and may have lower rates.
- You can also withdraw cash at a bank teller window using your credit card, though this only works at branches of your card issuer.
- The interest rate and fees for cash advances vary by card and issuer, so check your cardholder agreement before you proceed.
- A personal loan or bank line of credit will almost always cost less than a credit card cash advance.
Getting cash at an ATM with your credit card
Insert your credit card into any ATM that displays your card's logo (Visa, Mastercard, American Express, or Discover). Enter your PIN — this is the same PIN you use for a debit card, except you set it up when you opened the credit card account. If you do not remember your PIN, call the customer service number on the back of your card and request a PIN reset; the issuer will mail you a new one or let you set one over the phone.
Select "Withdraw Cash" or "Cash Advance" from the menu. Enter the amount you want. The ATM will show you the fee before you confirm — read it. Complete the transaction. The cash comes out when ready, and the charge appears on your credit card statement within one or two business days.
ATM cash advances have the highest fees and interest rates of the three methods. Most cards charge 3 to 5 percent of the amount withdrawn, plus a per-transaction fee of $2 to $5. The interest rate is typically 2 to 3 percentage points higher than your purchase rate. Check your cardholder agreement or call customer service to learn your card's specific rates and fees before you withdraw.
Using a balance transfer check
Balance transfer checks are physical checks mailed to you by your credit card issuer. You write them like a regular check, and the amount is treated as a cash advance on your credit card. The issuer sends these checks to cardholders periodically — you may see them in your mail or receive an offer in your online account. If you do not have any, call customer service and ask if they can send you balance transfer checks; not all cards offer them.
When you receive the checks, write one to yourself or to a business you need to pay. Deposit it into your bank account or cash it at a bank. The amount posts to your credit card as a cash advance. Balance transfer checks usually charge a lower fee than ATM withdrawals — often 2 to 3 percent instead of 3 to 5 percent — but the interest rate is still higher than your purchase rate and starts accruing when ready.
The main drawback is timing. The check takes 3 to 7 business days to arrive after you request it, and another 1 to 2 business days to clear once you deposit it. If you need cash today, this method will not work. Some cards also limit how many checks you can request per month or set a maximum amount per check.
Withdrawing cash at a bank teller window
If your credit card is issued by a bank with physical branches, you can walk into any branch and ask the teller to withdraw cash using your credit card. Bring your card and a photo ID. Tell the teller you want a cash advance. They will process it like a debit card withdrawal, and you will walk out with cash in hand.
This method is straightforward and takes only a few minutes. However, it only works at branches of the bank that issued your card. If your card is from a national bank like Chase or Bank of America, you can use any of their branches. If your card is from a smaller regional bank or a credit union, you can only use their branches. Credit cards issued by non-bank companies (like some online-only issuers) may not offer this option at all.
The fees and interest rates are the same as an ATM withdrawal. You still pay the cash advance fee and the higher interest rate, with interest starting when ready. The only advantage is convenience and speed if you are already near a branch.
Understanding cash advance fees and interest rates
Every credit card issuer sets its own cash advance fee and interest rate. Your cardholder agreement lists both. The fee is usually a percentage of the amount withdrawn (most commonly 3 to 5 percent) with a minimum fee of $5 to $10. So if you withdraw $200 and the fee is 3 percent with a $5 minimum, you pay $6. If you withdraw $100, you still pay the $5 minimum.
The interest rate for cash advances is separate from your purchase rate. If your purchase rate is 18 percent, your cash advance rate might be 22 percent. This higher rate applies only to the cash advance balance, not to regular purchases. Interest accrues daily from the moment you withdraw the cash — there is no grace period.
To find your card's specific rates and fees, log into your online account and look for the "Rates and Fees" or "Pricing" section, or call the customer service number on the back of your card. Ask for the cash advance fee percentage, the minimum fee, and the cash advance interest rate. Write these down so you can calculate the true cost before you proceed.
How much a cash advance actually costs
A cash advance of $500 on a card with a 3 percent fee and a 22 percent interest rate costs you $15 upfront (the fee) plus interest. If you pay off the $500 in full within one month, you will pay roughly $9 in interest, for a total cost of $24. If you carry the balance for three months, the interest alone will be around $27, bringing your total cost to $42.
Compare this to a personal loan. A $500 personal loan from a bank at 12 percent interest, paid back over three months, would cost you roughly $9 in interest — less than half the cost of the credit card cash advance. Even a payday loan, which is expensive, often costs less than a credit card cash advance if you repay it within a month or two.
Before you use a cash advance, explore other options: a personal loan from your bank, a line of credit, borrowing from a friend or family member, or negotiating a payment plan with whoever you owe the money to. A cash advance should be a last resort, not a routine way to access cash.
Paying back a cash advance
A cash advance balance appears on your credit card statement as a separate line item from your regular purchases. When you make a payment, credit card issuers explore it to the lowest-interest balance first — usually your regular purchases — and the cash advance balance sits there accruing interest. This means you need to pay extra to bring down the cash advance balance quickly.
To pay off a cash advance faster, call customer service and ask if you can make a payment earmarked specifically for the cash advance balance. Some issuers allow this; others do not. If they do not, you will need to pay down your entire card balance (purchases plus cash advance) to reduce the cash advance portion.
The longer you carry a cash advance, the more interest you pay. If you withdraw $500 and can pay it back within a week or two, do so. If you cannot pay it back quickly, a cash advance is not the right tool — look for a loan with a lower rate and a longer repayment period instead.
Frequently Asked Questions
Can I get a cash advance if my credit card is maxed out?
No. A cash advance counts against your credit limit, just like a purchase does. If you have used your full limit, you cannot withdraw cash until you pay down the balance. Some issuers may allow a cash advance up to a portion of your limit (for example, 50 percent), even if your total limit is higher.
What happens if I do not pay back a cash advance?
The balance will accrue interest at your cash advance rate and will be reported to credit bureaus as part of your credit card debt. If you miss payments, your credit score will drop and the issuer may charge late fees. After several months of non-payment, the issuer may close your account and send the debt to a collection agency.
Is there a limit to how much cash I can withdraw?
Yes. Most issuers set a cash advance limit that is lower than your credit limit — often 20 to 50 percent of your total limit. You can find your cash advance limit in your online account or by calling customer service. Some ATMs also have daily withdrawal limits, which may be lower than your card's limit.
Can I use a credit card cash advance to pay off another credit card?
Technically yes, but it is not a good idea. A cash advance has a higher interest rate and when ready fees, so you would be paying more to move debt from one card to another. A balance transfer (moving the balance directly from one card to another) is cheaper if your new card offers a 0 percent introductory rate.
Do cash advances show up differently on my credit report?
No. A cash advance appears as part of your total credit card balance on your credit report. It does not show up as a separate type of debt. However, the interest rate and fees mean the balance grows faster, which can hurt your credit score if it pushes your overall credit utilization higher.