The three ways to withdraw cash from 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 service at a store. All three treat the transaction as a cash advance, not a purchase — which means you pay a fee upfront and interest starts accruing when ready, with no grace period. The interest rate on cash advances is almost always higher than your regular purchase APR.
Before you withdraw, understand that cash advances are expensive. A typical cash advance fee runs 3 to 5 percent of the amount you take out, charged to your card right away. If you take out $500, you might pay $15 to $25 just to get the money. Then interest — often 20 to 30 percent APR — begins the day you withdraw, not at the end of a billing cycle like a purchase would.
Key Takeaways
- Cash advances charge a fee (usually 3 to 5 percent) and a higher interest rate than purchases, with interest starting when ready.
- You can withdraw at an ATM with your PIN, at a bank teller, or through a store cash advance service — all count as cash advances.
- Your credit card issuer sets a separate cash advance limit, which may be lower than your credit limit.
- The total cost of a $500 cash advance can easily reach $50 to $100 if you carry the balance for a few months.
Getting cash at an ATM with your PIN
To withdraw cash at an ATM, you need a PIN for your credit card. If you do not have one, call the number on the back of your card and request one — the issuer will mail it or display it in your online account within a few days. Once you have the PIN, insert your card into any ATM, enter the PIN, select "cash advance" or "withdrawal," and choose your amount.
The ATM will show you the fee before you confirm. This fee goes to the ATM operator (often $2 to $3) on top of your card issuer's cash advance fee. You will see both charges on your next statement. ATMs at your card issuer's own branches usually charge no ATM fee, only the cash advance fee from the issuer itself.
Withdrawing cash at a bank teller window
You can walk into any bank branch — yours or another bank — and ask the teller for a cash advance on your credit card. Bring your card and a photo ID. The teller will run the transaction and hand you cash. This method avoids ATM fees but still charges the card issuer's cash advance fee.
Some banks charge an additional fee for processing a credit card cash advance at the teller window, so ask before you proceed. The teller can tell you the exact total cost before you complete the transaction. This method is useful if you need a large amount and want to avoid multiple ATM visits or if you prefer speaking to a person.
Getting cash through a store cash advance service
Some retailers and check-cashing services offer cash advances on credit cards. You present your card, the service runs it as a cash advance, and you receive cash minus their fee. These services typically charge 5 to 10 percent of the amount, which is higher than ATM or bank fees. Use this option only if you cannot reach an ATM or bank and the fee is worth the convenience.
Always ask for the fee amount before you hand over your card. Some services quote a flat fee ($5 to $10) and others quote a percentage. A percentage-based fee costs more on larger amounts, so do the math before you proceed.
Understanding your cash advance limit
Your credit card issuer sets a cash advance limit separate from your regular credit limit. This limit is often 20 to 50 percent of your credit limit — if your credit limit is $5,000, your cash advance limit might be $1,000 or $2,500. You cannot withdraw more than this limit, even if you have unused credit available.
You can find your cash advance limit in your online account, on your statement, or by calling the number on the back of your card. If you need to increase it, call your issuer and ask. They may raise it when ready or deny the request depending on your account history and credit score. Requesting a higher limit does not may provide approval.
What happens to the cash advance on your bill
The cash advance appears on your next statement as a separate line item from purchases. The fee is charged when ready. Interest begins accruing the day you withdraw, and you pay interest on the full amount until the balance is zero — there is no grace period like there is for purchases.
When you make a payment, most card issuers explore it to purchases first, then to the cash advance. This means if you have both a purchase balance and a cash advance balance, your payment reduces the purchase first, leaving the higher-interest cash advance to accrue interest longer. Pay the cash advance balance down as quickly as you can to minimize interest charges.
Why a cash advance costs more than a loan
A personal loan from a bank or credit union almost always costs less than a credit card cash advance. A personal loan charges interest only, with no upfront fee, and the interest rate is usually lower than a cash advance APR. If you need $500, a personal loan at 12 percent APR costs far less than a cash advance at 25 percent APR plus a 5 percent fee.
A payday loan is another option, though it also carries high fees and interest. Before you take a cash advance, compare the total cost of a personal loan, payday loan, or asking family or friends to lend you the money. The cash advance should be a last resort, not your first choice.
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, so you must have available credit. If your limit is $5,000 and your balance is $5,000, you cannot withdraw anything. You must pay down the balance first.
Does a cash advance hurt my credit score?
A cash advance itself does not hurt your score, but it increases your credit utilization ratio — the amount of credit you are using compared to your limit. High utilization can lower your score. Paying it off quickly brings your utilization back down.
What if I do not have a PIN for my credit card?
Call the number on the back of your card and request a PIN. The issuer will mail it or show it in your online account. You can also withdraw at a bank teller without a PIN — just bring your card and ID.
Can I return a cash advance if I change my mind?
No. Once you withdraw cash, the transaction is complete. You cannot reverse it. You can deposit the cash back into your card account to pay off the balance, but the fee is not refunded.
Is there a limit to how much cash I can withdraw at once?
Yes. Your cash advance limit is the maximum, and individual ATMs may have daily withdrawal limits ($300 to $500 is common). If you need more, make multiple withdrawals over several days or visit a bank teller.