The three ways to withdraw cash using a credit card
You can get cash from a credit card in three ways: at an ATM using your PIN, at a bank teller's window, or through a cash advance app or service. ATM withdrawals are the most common and fastest. Bank teller withdrawals let you take out larger amounts without a PIN. Cash advance apps let you borrow against your credit limit without visiting a physical location, though they charge fees and interest rates that vary widely.
All three methods treat the money as a loan against your credit limit, not a purchase. This means you start paying interest when ready — there is no grace period like you get with regular credit card purchases. The interest rate for cash advances is typically higher than your regular purchase rate, sometimes by 5 percentage points or more. You will also pay an upfront fee, usually 3 to 5 percent of the amount you withdraw.
Key Takeaways
- ATM cash withdrawals charge an upfront fee (usually 3 to 5 percent) plus a higher interest rate than purchases, with interest starting when ready.
- You need your credit card PIN to withdraw from an ATM; if you do not have one, call your card issuer to set it up or request one by mail.
- Bank teller withdrawals let you take out larger amounts and may have lower fees than ATMs, but require a valid ID and your physical card.
- Cash advance apps charge fees and interest but do not require you to visit a location; read the terms carefully because rates vary significantly between services.
- The total cost of a cash advance adds up quickly, so use this method only when you have no other option.
Getting cash at an ATM with your credit card
Insert your credit card into an ATM that displays your card network's logo (Visa, Mastercard, American Express, or Discover). Enter your PIN when prompted. Select "Withdraw Cash" or "Cash Advance" from the menu. Choose your amount — the ATM will show your available credit limit and any daily withdrawal limit your card issuer has set. Complete the transaction and collect your cash and receipt.
If you do not have a PIN, contact your card issuer before you go to the ATM. You can request a PIN over the phone, and they will either give you one when ready or mail you one within 5 to 10 business days. Some issuers let you set your own PIN online through their app or website. Write down the PIN or memorize it — do not store it with your card.
Most credit card issuers set a daily ATM withdrawal limit, often between $500 and $1,000, even if your credit limit is higher. This limit protects you from fraud but also means you may not be able to withdraw your full available credit in one day. If you need more cash than your daily limit allows, you can withdraw again the next day.
Withdrawing cash at a bank teller window
Visit any bank branch that accepts your card network. Bring your physical credit card and a valid photo ID (driver's license, passport, or state ID). Tell the teller you want to withdraw cash using your credit card. The teller will process the transaction and give you cash on the spot.
Bank teller withdrawals often have higher limits than ATMs — you may be able to withdraw $2,000 or more in a single transaction, depending on your credit limit and the bank's policy. Some banks charge a lower fee for teller withdrawals than ATMs charge, though this varies by institution. You do not need a PIN for a teller withdrawal, only your card and ID.
The downside is that bank branches have limited hours and you need to visit in person. If you need cash outside business hours or do not have a branch nearby, an ATM is faster. Call ahead if you plan to withdraw a very large amount — some branches require advance notice for cash amounts over $5,000.
Using a cash advance app or service
Cash advance apps let you borrow money against your credit card without visiting an ATM or bank. Popular services include Earnin, Dave, and Brigit, though many others exist. read the app, link your credit card, and request a cash advance. The app deposits the money into your bank account, usually within one business day. You then repay the advance plus fees and interest according to the app's terms.
These services are convenient if you need cash at night or on a weekend, or if you do not have access to an ATM. However, the fees and interest rates are often much higher than traditional credit card cash advances. Some apps charge flat fees ($5 to $15), while others charge a percentage of the amount borrowed (5 to 10 percent or more). Interest rates can exceed 400 percent annually on some platforms.
Read the full terms and conditions before using any cash advance app. The cost of borrowing $200 for two weeks can easily exceed $50 when you add fees and interest together. Use these services only if you have no other option and can repay quickly.
Understanding the fees and interest you will pay
A cash advance fee is charged upfront and appears on your credit card statement. Most credit card issuers charge 3 to 5 percent of the amount withdrawn, with a minimum fee of $5 to $10. If you withdraw $500, expect to pay $15 to $25 in fees alone. This fee is added to your balance when ready.
Interest on a cash advance starts accruing the day you withdraw the money — there is no grace period. The interest rate is usually 2 to 5 percentage points higher than your regular purchase APR. If your purchase rate is 18 percent, your cash advance rate might be 23 percent. Interest compounds daily, so the longer you carry the balance, the more you pay.
Here is a concrete example: you withdraw $500 at an ATM. You pay a $15 fee (3 percent) upfront. Your cash advance APR is 23 percent. If you repay the full $515 in 30 days, you will owe approximately $30 in interest, for a total cost of $45. If you take 90 days to repay, the interest alone will be around $90, and your total cost will be $105.
When a cash advance makes sense and when it does not
A cash advance makes sense only when you need cash when ready and have no other way to get it. Examples include an emergency car repair that requires cash payment, or a situation where you need cash for a security deposit and your bank account is empty. In these cases, the convenience and speed may justify the cost.
A cash advance does not make sense if you have other options. If you can wait a day or two, transfer money from savings or ask a friend or family member to lend you cash. If you can use a debit card instead, do that. If you can pay with a credit card purchase instead of withdrawing cash, that is almost always cheaper because purchases have a grace period and a lower interest rate.
Never use a cash advance to pay off other debts or to fund spending you cannot afford. The high interest rate and upfront fee make this one of the most expensive ways to borrow money. A personal loan from a bank or credit union, a payday loan (despite its reputation), or even a balance transfer to a 0 percent APR card are usually cheaper options.
How to set up or reset your credit card PIN
If you have never set up a PIN for your credit card, or if you forgot yours, contact your card issuer. Call the number on the back of your card or log into your online account. Most issuers let you set a PIN when ready over the phone or through their app. Some will mail you a PIN if you prefer not to create one yourself.
When you create a PIN, choose a four-digit number that is not your birthday, address, or any other easily guessed information. Do not use the same PIN as your debit card. Write it down and store it somewhere safe, separate from your card — or memorize it and do not write it down at all.
If you forget your PIN, you can reset it the same way you set it up: call your issuer or use their app. The new PIN usually takes effect when ready or within a few hours. If you are at an ATM and enter the wrong PIN three times, the machine will keep your card for security reasons. Call your issuer to retrieve it.
Frequently Asked Questions
Can I withdraw more cash than my credit limit?
No. Your cash advance is limited to your available credit balance. If your credit limit is $5,000 and you already owe $3,000, you can withdraw up to $2,000. Some issuers also set a separate cash advance limit that is lower than your total credit limit.
Does a cash advance hurt my credit score?
A cash advance itself does not directly hurt your score, but carrying a high balance does. If you withdraw $500 and do not repay it quickly, your credit utilization ratio increases, which can lower your score. Repaying the advance quickly minimizes this impact.
What is the difference between a cash advance and a balance transfer?
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 0 percent introductory rate for a set period. Balance transfers are cheaper if you are moving existing debt, but they do not give you cash.
Can I use a credit card cash advance to pay another credit card bill?
Technically yes, but it is one of the most expensive ways to move money between cards. You pay the cash advance fee and high interest rate on the withdrawn amount, then use that cash to pay another card. A balance transfer is much cheaper if both cards allow it.
What happens if I cannot repay a cash advance?
The balance stays on your credit card and continues to accrue interest. If you miss payments, your issuer may charge late fees and report the missed payment to credit bureaus, which damages your credit score. Contact your issuer when ready if you cannot repay — they may offer a hardship plan or lower interest rate.