The main ways to get cash from a credit card

You can get cash from a credit card through a cash advance, which pulls money directly from your credit line at an ATM or bank. You can also use a balance transfer check if your card issuer sends them, or request a convenience check from your card company. A third option is a cash-like purchase — buying something you can when ready resell or exchange for cash, though this defeats the purpose financially.

Cash advances are the most common method. You insert your card into an ATM, enter your PIN, and withdraw money up to your daily limit — typically $500 to $1,000, though your card issuer sets the actual amount. The money hits your account when ready, but the cost is steep: most cards charge a flat fee (often $5 to $10) plus a percentage of the amount (usually 3% to 5%), and the interest rate on cash advances is almost always higher than the rate on purchases.

Balance transfer checks work differently. Your card issuer mails you a check that draws against your credit line. You deposit or cash it like any other check. The fee is typically 3% to 5% of the check amount, and interest starts accruing right away — there is no grace period like there is for purchases.

Key Takeaways

  • Cash advances charge both an upfront fee (usually 3% to 5%) and a higher interest rate than purchases, making them expensive for short-term borrowing.
  • Your daily ATM withdrawal limit is set by your card issuer and is often much lower than your total credit limit.
  • Interest on cash advances starts accruing when ready with no grace period, so the longer you carry the balance, the more you pay.
  • Balance transfer checks and convenience checks work similarly to cash advances in terms of fees and interest, and should only be used if you have a specific reason you cannot use a regular purchase or loan.

Cash advance fees and interest rates

A cash advance costs money upfront and then costs more money every day you carry the balance. The upfront cost is a cash advance fee, charged as a percentage of the amount withdrawn or as a flat dollar amount, whichever is higher. Most cards charge 3% to 5% of the withdrawal, with a minimum of $5 to $10. On a $200 withdrawal, that could be $6 to $10. On a $1,000 withdrawal, that could be $30 to $50.

The interest rate on a cash advance is separate from your purchase rate. While your purchase APR might be 18%, your cash advance APR might be 25% or higher. This rate applies to the full amount you withdrew, starting the day you take the cash — there is no interest-free period. If you withdraw $500 at a 25% APR and pay it back after 30 days, you will owe roughly $10 in interest alone, on top of the upfront fee.

Your card issuer reports the terms in your card agreement or online account dashboard. Before taking a cash advance, log in and check your specific cash advance APR and fee. These vary by card and by cardholder.

Daily limits and how they work

Your card issuer sets a daily cash advance limit separate from your total credit limit. You might have a $5,000 credit limit but only a $500 daily ATM limit. This means you can withdraw up to $500 per day, but you cannot withdraw $5,000 in a single transaction.

The limit resets each day, usually at midnight in your card issuer's time zone. If you withdraw $500 on Monday, you can withdraw another $500 on Tuesday. Some cards let you withdraw more at a bank branch than at an ATM — a bank teller might allow $1,000 while the ATM caps you at $500.

You can request a higher daily limit by calling your card issuer's customer service number on the back of your card. They may grant it, deny it, or offer a temporary increase. There is no may provide, and the request does not change your credit limit — only your cash advance limit.

When a cash advance makes sense

A cash advance is useful only in specific situations where you need physical cash and have no other option. Examples include paying a contractor who will not take a card, covering an emergency expense at a business that does not accept cards, or withdrawing cash for a trip to a country where card networks are unreliable.

A cash advance does not make sense for everyday spending, paying bills online, or covering a shortfall you plan to carry for weeks or months. In those cases, a personal loan, a line of credit, or a 0% APR balance transfer card would cost you far less. A cash advance is a short-term tool for a specific need, not a way to borrow money cheaply.

If you are considering a cash advance because you cannot pay a bill or cover an expense, explore other options first: a payment plan with the creditor, a personal loan from a bank or credit union, or a 0% promotional APR card if you have good credit. These almost always cost less than a cash advance.

How to take a cash advance at an ATM

Insert your credit card into an ATM that accepts credit cards — not all ATMs do. Enter your PIN (the same one you use for debit transactions, or one you set up with your card issuer). Select "Withdrawal" or "Cash Advance." Enter the amount you want to withdraw, up to your daily limit. The ATM will confirm the amount and the fee, then dispense the cash.

The transaction posts to your credit card account within one business day. You will see it listed as a cash advance, not a purchase, and it will accrue interest at your cash advance rate starting when ready.

If you do not have a PIN set up, call your card issuer before you go to the ATM. They can issue one over the phone or mail one to you. Some cards require you to set a PIN online through your account dashboard.

Getting cash at a bank branch instead

You can also get a cash advance at a bank branch — either your own bank or the card issuer's bank. Bring your credit card and a photo ID. Tell the teller you want a cash advance. They will process it like a withdrawal, charge the fee, and hand you cash.

Bank branches often allow higher single withdrawals than ATMs. If your ATM limit is $500 but you need $1,000, a teller might be able to process that in one transaction. Call ahead to confirm the branch can handle credit card cash advances and ask what their limit is.

The fee and interest rate are identical to an ATM cash advance — the method does not change the cost, only the amount you can withdraw at once.

Paying back a cash advance

A cash advance appears on your credit card statement as a separate line item from purchases. Your minimum payment covers all balances (purchases, cash advances, and interest), but paying only the minimum means you carry the cash advance balance and keep paying interest.

To pay off a cash advance faster, make a payment above the minimum and specify that it should go toward the cash advance balance. Some card issuers let you direct payments to specific balance types through your online account or by calling customer service. If you do not specify, your payment may be applied to lower-interest balances first, leaving the cash advance to accrue interest longer.

The fastest way to stop paying interest is to pay the entire cash advance balance in full as soon as possible. Every day you carry it costs you money at your cash advance APR.

Frequently Asked Questions

Can I get a cash advance if I have a low credit limit?

Yes. Your cash advance limit is usually a percentage of your credit limit — often 20% to 50%. If your credit limit is $1,000, your cash advance limit might be $200 to $500. You can still take that amount even if it is small. Call your card issuer to find out your specific cash advance limit.

What is the difference between a cash advance and a balance transfer?

A cash advance gives you physical cash from an ATM or bank. A balance transfer moves debt from one card to another card, usually to take advantage of a lower interest rate. They are different transactions with different fees and purposes.

Do cash advances hurt my credit score?

A cash advance itself does not hurt your score, but carrying a high balance does. If your cash advance pushes your total credit card balance above 30% of your total credit limit, your credit utilization ratio increases and your score may drop. Paying it off quickly limits this damage.

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

Technically yes, but it is a bad idea. You would pay the cash advance fee and interest rate on money you are using to pay another card's balance. A balance transfer between cards costs less and serves the same purpose.

What happens if I cannot pay back a cash advance?

The balance stays on your credit card and accrues interest at your cash advance rate. If you miss payments, your card issuer will report it to credit bureaus, your credit score will drop, and they may close your account or pursue collection. If you are struggling to repay, contact your card issuer to discuss a payment plan or hardship program.