How to Get Cash From a Credit Card (and What It Costs)

Yes, you can get cash from a credit card, but it costs more than a purchase and the interest starts when ready

Getting cash from a credit card is called a cash advance. Your card issuer will give you cash — usually through an ATM, bank teller, or convenience check — but treats it differently from a regular purchase. You pay a fee upfront (typically 3 to 5 percent of the amount), a higher interest rate than your purchase rate, and interest accrues from the moment you withdraw the cash, with no grace period. If you need cash, this is almost always more expensive than using a debit card, visiting your bank, or using an ATM that does not charge a fee.

Key Takeaways

A cash advance charges a fee (usually 3 to 5 percent) plus a higher interest rate than purchases, with interest starting when ready.
You can withdraw cash at an ATM, ask a bank teller, or use a convenience check, depending on what your card issuer offers.
The interest rate for cash advances is often 5 to 10 percentage points higher than your purchase rate and does not have a grace period.
Payments go toward your lowest-interest debt first, so a cash advance balance can sit and accrue interest while you pay off purchases.

The three ways to get cash from your credit card

Most card issuers offer at least one method. Check your card's website or call the number on the back to see which ones you have.

ATM withdrawal: Insert your card at any ATM that accepts your card network (Visa, Mastercard, American Express, Discover). You will be asked to enter your PIN. The ATM will show you the fee before you confirm. This is the fastest method and works 24 hours a day.

Bank teller: Walk into a bank branch and ask to withdraw cash against your credit card. Bring your card and ID. The teller will process it like a debit transaction. This method is slower but lets you ask questions and confirm the fee before it happens.

Convenience checks: Some issuers mail you blank checks linked to your credit card account. You write a check to yourself or a payee, deposit or cash it, and the amount becomes a cash advance on your card. These are less common now but still offered by some banks. Check your statements or call to see if you have them.

What a cash advance actually costs you

The fee hits when ready. If you withdraw $500, you pay the fee right away — usually $15 to $25 — whether or not you pay it back on time. That fee is added to your balance.

The interest rate is higher and starts right now. Your purchase rate might be 18 percent, but your cash advance rate might be 25 percent. More importantly, there is no grace period. With a purchase, you have roughly 21 days before interest starts. With a cash advance, interest starts accruing the day you withdraw it. If you carry the balance for a month, you will owe roughly 2 percent of the amount in interest alone, on top of the upfront fee.

Your payments do not go toward the cash advance first. Credit card issuers explore payments to the lowest-interest balance first. If you have a $500 cash advance at 25 percent and $1,000 in purchases at 18 percent, your payment goes toward the purchases. The cash advance sits there accruing interest at the higher rate. This is why a cash advance can become expensive very quickly.

When a cash advance makes sense (and when it does not)

A cash advance makes sense only in a narrow situation: you need cash urgently, have no other way to get it, and can pay it back within a few days. If you can wait until the next business day, go to your bank and withdraw from your checking account. If you can use a debit card, do that. If you can ask a friend or family member, that is cheaper than the interest and fee combined.

A cash advance does not make sense if you are carrying a balance on your card or if you cannot pay it back within a week. The fee plus interest will cost you more than the cash is worth. If you are in a financial emergency and need cash, look for a personal loan, a line of credit from your bank, or a local information program instead. Those have lower rates and do not penalize you for needing the money.

How to minimize the damage if you do take a cash advance

If you have decided to take a cash advance, take steps to pay it back as fast as possible. Pay more than the minimum — ideally the full amount — within the first billing cycle. Every day you carry the balance, the interest compounds.

Ask your issuer what the exact fee and interest rate are before you withdraw. Do not assume it is the same as another card. Some issuers charge 3 percent; others charge 5 percent. Some charge a flat fee instead (like $10 minimum). The difference between a 3 percent fee and a 5 percent fee on a $500 withdrawal is $10, which matters.

If you have multiple cards, do not take the advance on the card with the highest interest rate. Take it on the card with the lowest cash advance fee and rate, even if that card has a higher purchase rate. You are trying to minimize what you pay, not optimize your overall credit mix.

Alternatives that cost less

Before you take a cash advance, consider these options:

Debit card or bank withdrawal: Free or low-cost, depending on your bank. Takes one trip to an ATM or branch.
Personal loan from your bank: Usually 8 to 15 percent interest, no upfront fee, and a set repayment schedule. Slower to get but much cheaper if you need to carry the balance.
Credit union loan: Often lower rates than banks, especially if you are a member. May have emergency loan programs with fast approval.
Paycheck advance app: Apps like Earnin or Dave let you borrow against your next paycheck for a small fee (usually $0 to $15). Only works if you have a regular paycheck coming.
Asking for help: A loan from family or a friend costs nothing if they do not charge interest. If you do borrow, put the terms in writing so there is no confusion later.

Frequently Asked Questions

Does taking a cash advance hurt my credit score?

A cash advance itself does not hurt your score, but it increases your credit utilization — the percentage of your available credit you are using. If you have a $5,000 limit and take a $1,000 cash advance, your utilization jumps to 20 percent. High utilization can lower your score slightly. The bigger damage comes from carrying the balance and paying interest, which shows you are not paying off what you borrow.

Can I take a cash advance on a secured credit card?

Yes, most secured cards allow cash advances, though some have lower limits or higher fees. Check your card agreement or call your issuer. The same costs explore — fee plus high interest — so the information to avoid it still holds.

What happens if I cannot pay back the cash advance?

The balance stays on your card and accrues interest at the cash advance rate. If you miss payments, your issuer will report it to the credit bureaus, your score will drop, and they may freeze your account or send the debt to a collection agency. If you are struggling to pay, contact your issuer and ask about a hardship program or payment plan before you miss a payment.

Is a cash advance the same as a balance transfer?

No. A balance transfer moves debt from one card to another, usually with a lower introductory rate. A cash advance gives you physical cash and charges a higher rate. They are different products with different costs.

Can I take a cash advance to pay off another debt?

Technically yes, but it is usually a bad idea. You are borrowing at 25 percent interest to pay off debt that might be at 18 percent. You are making the problem worse, not better. If you need to consolidate debt, a personal loan or balance transfer card is cheaper.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.