The main ways to get money off a credit card
You can move money from a credit card to a bank account in three ways: a cash advance, a balance transfer, or a credit card check. Each one costs you differently and works differently, so the right choice depends on what you need the money for and how quickly you need it.
A cash advance lets you withdraw cash from an ATM or get it at a bank counter using your credit card PIN. A balance transfer moves your credit card balance to another card, usually one with a lower interest rate — but you can also transfer to a bank account if the card issuer offers that option. A credit card check is a physical check the card issuer mails you; you deposit it like any other check, and the amount becomes a charge on your card.
All three add debt to your credit card and charge you interest and fees. None of them are free, and none of them reduce what you owe — they just change the form the debt takes.
Key Takeaways
- Cash advances charge a fee (usually 3 to 5 percent of the amount) plus a higher interest rate than regular purchases, starting when ready with no grace period.
- Balance transfers can move money between cards or sometimes to a bank account, but they also charge a fee and may offer a lower rate only for a limited time.
- Credit card checks work like regular checks but function as a cash advance on your card, with the same fees and interest rates as ATM withdrawals.
- All three methods add to your credit card debt and should only be used if you have a plan to pay the money back quickly.
Cash advances: the fastest way to get cash
A cash advance is the quickest way to pull money from your credit card. You go to an ATM, insert your card, enter your PIN, and withdraw cash — just like using a debit card. You can also walk into a bank branch and ask the teller for a cash advance.
The cost is steep. Most card issuers charge a cash advance fee of 3 to 5 percent of the amount you withdraw. If you take out $500, you might pay $15 to $25 just for the transaction. On top of that, the interest rate on a cash advance is usually higher than the rate on regular purchases — often 2 to 3 percentage points higher. Unlike a purchase, there is no grace period; interest starts accruing the day you withdraw the money.
You should only use a cash advance if you need cash right now and have no other option. The fees and interest add up fast, and the debt sits on your credit card at a high rate until you pay it off.
Balance transfers: moving debt to a lower rate
A balance transfer moves money from one credit card to another. The main reason people do this is to move a high-interest balance to a card with a lower rate, often one offering an introductory 0 percent rate for 6 to 21 months. Some card issuers also let you transfer a balance directly to a bank account, though this is less common.
Balance transfers charge a fee, usually 3 to 5 percent of the amount transferred. If you move $2,000, you pay $60 to $100 upfront. The introductory rate applies only to the transferred balance, not to new purchases, and it lasts only as long as the offer states — after that, the regular rate kicks in. You need to pay off the transferred balance before the introductory period ends, or you will owe interest at the regular rate on whatever remains.
A balance transfer makes sense if you have a large balance on a high-interest card and you can pay it off within the introductory period. It does not make sense if you plan to keep carrying a balance, because the fee plus the eventual regular interest rate may cost more than staying put.
Credit card checks: a check that works like a cash advance
Some card issuers mail you blank checks tied to your credit card account. You write one out, deposit it in your bank account, and the amount becomes a charge on your card. To you, it looks like a regular check. To your card issuer, it is a cash advance.
Credit card checks carry the same fees and interest rates as ATM cash advances — usually a 3 to 5 percent fee plus a higher interest rate with no grace period. The only advantage is that you do not need to go to an ATM or bank branch; you can mail the check or deposit it remotely. The disadvantage is that you might forget it is a cash advance and not a free transfer of funds.
If your card issuer sends you these checks, read the terms carefully. Some issuers offer a lower fee or a promotional rate on checks for a limited time. Most do not. Treat a credit card check the same way you would treat a cash advance: use it only if you need cash now and have no other way to get it.
Comparing the costs: which method is cheapest
The cost of moving money off your credit card depends on the method and your card's terms. Here is how they typically stack up:
| Method | Fee | Interest Rate | Grace Period |
|---|---|---|---|
| Cash advance (ATM) | 3–5% of amount | Higher than purchases | None; interest starts when ready |
| Balance transfer | 3–5% of amount | 0% introductory rate (6–21 months), then regular rate | No grace period on the transferred balance |
| Credit card check | 3–5% of amount | Same as cash advance | None; interest starts when ready |
A balance transfer is usually the cheapest option if you can pay off the balance during the introductory period. A cash advance or check is the most expensive because you pay the fee plus interest when ready, with no break.
Before you choose any method, check your card's terms. Log into your account online or call the number on the back of your card and ask about the fee and interest rate for each option. The rates and fees vary by card issuer and sometimes by your credit score.
What to do instead of taking money off your card
Before you use any of these methods, consider whether you actually need to move money off your card or whether you need cash for a specific reason. If you need cash because you are short on money, taking a cash advance or balance transfer just moves the problem around — you still owe the money, and now you are paying fees and interest to do it.
If you need cash for an emergency, look for other options first: a personal loan from a bank or credit union (which usually charges less interest than a cash advance), a loan from family or friends, or a side gig to earn the money. If you need to pay off a high-interest balance, a balance transfer makes sense only if you have a plan to pay it off before the introductory rate ends.
If you are using a cash advance to pay another debt, stop and think about whether you are solving the problem or just borrowing more money. Most people who take cash advances end up carrying the debt for months, paying hundreds of dollars in fees and interest.
How these transactions affect your credit score
Moving money off your credit card affects your credit in two ways. First, the transaction increases your credit utilization — the percentage of your available credit that you are using. If you have a $5,000 limit and you take a $2,000 cash advance, your utilization jumps to 40 percent. High utilization hurts your credit score, even if you pay the balance off quickly.
Second, the hard inquiry your card issuer runs to approve a balance transfer (if you are moving to a different card) can lower your score by a few points. This effect is temporary and fades after a few months.
The bigger damage comes from carrying the balance. If you take a cash advance or balance transfer and do not pay it off quickly, the interest charges and high utilization will drag your score down over time. This is why these methods should be short-term solutions only.
Frequently Asked Questions
Can I transfer money from my credit card directly to my bank account?
Not directly through most card issuers. You can use a cash advance (ATM or bank teller), a balance transfer check, or sometimes a balance transfer to another card that you then withdraw from. Some newer fintech cards offer direct transfers to a linked bank account, but this is still rare. Check your card's website or call the issuer to see if this option is available.
What is the difference between a cash advance and a balance transfer?
A cash advance gives you physical cash when ready, charged at a higher interest rate with a fee. A balance transfer moves debt from one card to another, usually at a lower introductory rate. Cash advances are faster but more expensive; balance transfers take a few days but can save money if you pay off the balance during the promotional period.
Will a cash advance hurt my credit score?
Yes, in two ways. It increases your credit utilization when ready, which lowers your score. It also charges interest with no grace period, so if you carry the balance, the high utilization and interest charges will keep your score depressed until you pay it off.
Can I use a balance transfer to pay off a personal loan?
You can transfer a balance to another credit card, but you cannot directly transfer credit card debt to pay off a personal loan. You would need to take a cash advance or get a balance transfer check, then use that money to pay the loan. This adds fees on top of fees and is usually not worth it.
What happens if I do not pay back a cash advance?
The balance stays on your credit card and accrues interest at the higher cash advance rate. If you do not pay it, your card issuer will report it as a missed payment to the credit bureaus, which damages your credit score. After 30 days of non-payment, they may close your account or send the debt to a collection agency.