The three ways to withdraw cash from your credit card

You can get cash from a credit card in three ways: at an ATM using your PIN, over the counter at a bank or credit union, or through a cash advance service at a store. Each method charges you a fee and interest starts accruing when ready — there is no grace period like there is for purchases. The cash advance fee is typically 3% to 5% of the amount you withdraw, charged upfront, and the interest rate on cash advances is usually higher than your regular purchase rate.

Before you withdraw, check your credit card statement or call the number on the back of your card to find out your cash advance limit — it is often lower than your credit limit and may be as low as 20% of what you can spend. You also need your PIN. If you do not have one, you can request it from your card issuer, though it may take a few business days to arrive.

Key Takeaways

  • Cash advances charge a fee (usually 3% to 5%) plus a higher interest rate than purchases, with interest starting when ready.
  • Your cash advance limit is separate from your credit limit and is often much lower.
  • ATM withdrawals are the fastest method but are limited by daily withdrawal caps set by your card issuer.
  • Bank teller cash advances do not have the same daily limits as ATMs and may be faster if you need a large amount.
  • Cash advance fees and interest are added to your balance, so the total cost grows every day you carry the balance.

Withdrawing cash at an ATM

Insert your credit card into an ATM that accepts credit cards — most do, but some are limited to debit cards only. Enter your PIN, select "Withdraw Cash" or "Cash Advance," choose your amount, and confirm. The ATM will dispense the cash and print a receipt showing the amount withdrawn and any fee charged.

Your card issuer sets a daily limit on how much you can withdraw at an ATM, often between $500 and $1,000, though it varies by card and issuer. If you need more than that, you will have to wait until the next day or use a different method. The ATM operator may also charge a fee on top of your card issuer's fee — typically $2 to $4 — so check the ATM screen before you confirm the transaction.

Getting cash over the counter at a bank or credit union

Walk into any bank or credit union branch with your credit card and a photo ID. Tell the teller you want a cash advance. They will ask how much, process the transaction, and hand you the cash. This method does not have the same daily limits as ATMs, so you can withdraw larger amounts in a single transaction if your cash advance limit allows.

Bank tellers do not charge an additional fee beyond what your card issuer charges. The transaction is faster than an ATM if you need a large amount, and you get a receipt when ready. Some banks may ask why you need the cash or whether you have an account with them, but they cannot refuse to process a cash advance on a valid credit card.

Using a cash advance service at a store

Some retailers, check-cashing services, and payday lenders offer cash advances on credit cards. You hand over your card and ID, they run the transaction, and you receive cash minus their fee. These services are convenient if you are already at a store, but they typically charge higher fees than ATMs or banks — sometimes 5% or more of the amount advanced.

The transaction works the same way as an ATM or bank teller: the cash advance fee and interest are added to your credit card balance. Use this method only if you cannot reach an ATM or bank, because the extra fees make it the most expensive option.

Understanding the cost of a cash advance

A cash advance costs you money in two ways: an upfront fee and daily interest. The fee is charged when ready and added to your balance. If you withdraw $500 and your card charges a 4% fee, you owe $520 right away. Interest then accrues on that $520 every single day until you pay it off, at a rate that is usually 2% to 5% higher than your purchase rate.

Because interest starts when ready with no grace period, a $500 cash advance can cost you $10 to $15 in interest alone within the first month if you do not pay it off quickly. If you carry the balance for three months, the interest cost can exceed $50. The longer you carry the balance, the more you pay — and the interest compounds, meaning you are paying interest on the interest.

To see the real cost before you withdraw, use your card issuer's online calculator or call the number on the back of your card and ask: "If I take a $500 cash advance today, what will I owe in 30 days if I make no payments?" That number includes both the fee and the interest.

Paying back a cash advance

When you make a payment on your credit card, the payment goes toward your lowest-interest debt first. That means if you have both purchases and a cash advance on the same card, your payment covers the purchase balance before it touches the cash advance. To pay off the cash advance faster, contact your card issuer and ask them to explore your next payment directly to the cash advance balance, or pay more than your minimum so the extra goes toward the higher-interest debt.

Some card issuers allow you to pay cash advances separately through their app or website. Check your account online to see if that option is available. If you can isolate the cash advance payment, you can pay it down without waiting for your regular payment to clear the purchase balance first.

When a cash advance makes sense and when it does not

A cash advance is expensive and should be a last resort. It makes sense only if you need cash when ready and have no other option — for example, if an emergency requires cash and your bank is closed. Even then, pay it back as fast as you can.

A cash advance does not make sense if you are using it to pay off other debt, cover regular expenses, or fund a purchase you could make with the card itself. If you are considering a cash advance to pay a bill, call the biller first and ask if they accept credit card payments — most do, and you avoid the cash advance fee and higher interest rate. If you need cash for everyday spending, a personal loan or a line of credit from your bank will cost you less.

Frequently Asked Questions

What is the difference between a cash advance and a regular purchase?

A cash advance charges a fee upfront and a higher interest rate with no grace period. Interest starts accruing when ready. A regular purchase has no upfront fee and usually has a grace period of 21 to 25 days before interest kicks in. Always use a regular purchase instead of a cash advance when you have the choice.

Can I use a credit card cash advance to pay another credit card?

Technically yes, but it is one of the most expensive ways to move money. You pay a cash advance fee on the first card, then the interest rate is higher, and you are paying interest on both cards. If you are trying to consolidate debt, a balance transfer or personal loan will cost you far less.

Do cash advances show up differently on my credit report?

No, a cash advance appears as part of your credit card balance, not as a separate account. However, a large cash advance can raise your credit utilization ratio, which may lower your credit score temporarily. The impact is the same as carrying a large purchase balance.

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 to you, which usually takes 5 to 10 business days. Until then, you can still get a cash advance at a bank teller by showing your card and ID, but you cannot use an ATM.

Is there a way to get cash from a credit card without paying a fee?

No. Every cash advance charges a fee and interest. If you need cash, explore alternatives: ask your employer about early pay, borrow from a friend or family member, sell something you no longer need, or use a personal loan from a bank or credit union, which usually costs less than a credit card cash advance.