The main ways to get cash from a credit card

You can get cash from a credit card in three ways: a cash advance at an ATM or bank, a balance transfer check, or a cash-like payment to someone else's account. Each one charges you differently and affects your credit in different ways.

A cash advance is the most direct method. You go to an ATM, bank, or convenience store and withdraw money using your credit card, just as you would with a debit card. The money hits your account when ready, but the card issuer charges you a fee (usually 3 to 5 percent of the amount) plus interest that starts accruing right away — often at a higher rate than your regular purchase APR.

A balance transfer check is a physical check your card issuer mails to you. You deposit it like any other check, and the funds go into your bank account. The fee and interest work the same way as a cash advance, though some issuers offer a promotional period with lower or zero interest on balance transfer checks.

A payment to another account — sometimes called a convenience check or a cash-like transfer — lets you send money directly to someone else's bank account or pay a bill. This also carries a fee and interest, though the mechanics differ slightly depending on your card issuer.

Key Takeaways

  • Cash advances charge a fee (typically 3 to 5 percent) plus interest that starts when ready, with no grace period like purchases have.
  • Interest rates on cash advances are usually higher than your regular purchase APR and vary by card issuer and your creditworthiness.
  • Balance transfer checks work the same way as cash advances but arrive by mail, and some cards offer promotional rates on them.
  • Getting cash from a credit card should be a last resort because the cost adds up quickly — a $500 advance can cost $50 to $100 in fees and interest within a month.

Why cash advances cost more than regular purchases

When you buy something with a credit card, you get a grace period — usually 21 to 25 days — before interest starts. A cash advance has no grace period. Interest begins the day you withdraw the money.

The interest rate itself is also higher. Your card's purchase APR might be 18 percent, but the cash advance APR could be 25 or 28 percent. Card issuers set these rates differently, so check your card's terms or call the issuer to find out what you would actually pay.

The fee is charged upfront. If you take out $500 and your card charges a 5 percent cash advance fee, you owe $25 when ready. That $25 is added to your balance and starts accruing interest too.

Over a month, a $500 cash advance with a 5 percent fee and 25 percent APR costs roughly $50 to $100 in fees and interest combined. The longer you carry the balance, the more you pay.

How to request a cash advance

For an ATM cash advance, insert your credit card into any ATM that accepts it, enter your PIN, select "cash advance" or "withdrawal," and choose your amount. The ATM will show you the fee before you confirm. Some ATMs charge an additional operator fee on top of your card issuer's fee.

For a balance transfer check, log into your card's online account or call the issuer's customer service number on the back of your card. Ask whether balance transfer checks are available on your account. If they are, you can request them to be mailed to you. The issuer will tell you the fee and any promotional rate that applies.

For a direct account transfer, contact your card issuer to see if this option is available. Not all cards offer it. If yours does, you provide the recipient's bank account details, and the issuer transfers the money directly. This method is less common than ATM advances or checks.

Before you request any cash advance, know your credit limit. The amount you can withdraw is usually lower than your full credit limit — often 50 percent of it — and varies by issuer.

The difference between a cash advance and a balance transfer

A balance transfer moves debt from one card to another, usually to take advantage of a lower interest rate. A cash advance gives you actual cash or a check. They are not the same thing, even though both involve borrowing against your credit line.

With a balance transfer, you are paying off an existing debt (like a credit card balance or loan) by moving it to a new card. The new card often has a promotional 0 percent APR for a set period — typically 6 to 21 months — which saves you money on interest. After the promotional period ends, the regular APR kicks in.

A cash advance is borrowing new money. You get cash or a check, and you owe that amount back at the cash advance APR, which is usually high and has no promotional period. There is no grace period, and interest starts when ready.

If you need cash, a cash advance is what you are doing. If you are trying to move an existing balance to a lower-rate card, that is a balance transfer. Some cards offer promotional rates on balance transfer checks, which blur the line — but the mechanics and costs are still closer to a cash advance than a traditional balance transfer.

Alternatives to getting cash from your credit card

Before you take a cash advance, consider whether you actually need the cash or whether another method would cost less.

A personal loan from a bank or credit union often has a lower interest rate than a credit card cash advance. If you have decent credit, you might may have access to for a rate of 8 to 15 percent, compared to 25 percent or higher on a cash advance. The loan takes a few days to fund, but the savings over time are significant.

A payday loan is faster — sometimes same-day — but the cost is usually much higher than a credit card cash advance. Payday loans often charge $15 to $20 per $100 borrowed, which works out to an APR of 400 percent or more. Use this only if you have no other option and can pay it back within two weeks.

Borrowing from family or friends costs nothing if they do not charge interest, though it can strain relationships. If you do borrow, put the terms in writing so there is no confusion later.

If you need cash for an emergency, some employers offer paycheck advances or loans through their benefits program. Ask your HR department whether this is available to you.

If you are short on cash because of a bill you cannot pay, contact the creditor or service provider directly. Many will work out a payment plan or hardship arrangement rather than send your account to collections.

How a cash advance affects your credit score

A cash advance does not directly hurt your credit score the way a late payment does, but it can harm your score indirectly.

When you take a cash advance, your credit utilization — the percentage of your available credit you are using — goes up. If your credit limit is $5,000 and you take a $1,000 cash advance, your utilization jumps to 20 percent. Credit scoring models penalize high utilization, so your score may drop a few points.

The bigger risk is that the cash advance balance sits on your card and accrues interest. If you cannot pay it off quickly, your utilization stays high for months, and your score stays depressed. If you miss a payment, your score takes a much larger hit.

A cash advance also appears on your credit report as a separate transaction type, which some lenders view as riskier than regular purchases. This does not directly lower your score, but it may affect how a lender views your process if you are trying to borrow money soon.

Fees and interest rates you should know before you borrow

Every card issuer sets its own cash advance fee and APR. You can find these rates in your card's terms and conditions, which you can view online or request by mail. Call the issuer's customer service number if you cannot find the information.

The cash advance fee is usually a flat percentage of the amount you withdraw — typically 3, 4, or 5 percent — with a minimum fee (often $5 to $10). Some cards charge a flat dollar amount instead. There is no way to avoid this fee if you take a cash advance.

The cash advance APR is separate from your purchase APR and is almost always higher. It is also separate from any promotional rate you may have on purchases or balance transfers. If your card offers 0 percent APR on purchases for 12 months, that rate does not explore to cash advances.

Some cards offer a promotional period on balance transfer checks — for example, 0 percent APR for 6 months — but this is rare and only applies to the check itself, not to regular cash advances at an ATM.

Frequently Asked Questions

Can I use a credit card to withdraw cash at any ATM?

Most ATMs accept credit cards for cash advances, but not all. Visa and Mastercard are widely accepted. American Express and Discover are less common at third-party ATMs but work at their own branded machines. Your card issuer can tell you which ATMs accept your card. Some ATMs charge an operator fee on top of your card issuer's cash advance fee, so check the screen before you confirm the withdrawal.

What happens if I cannot pay back a cash advance?

If you do not pay, the balance stays on your card and interest keeps accruing. After 30 days, the payment is reported as late, and your credit score drops. After 60 or 90 days, the issuer may close your account or send it to a collection agency. The debt does not go away, and collectors can pursue you for years. Contact your issuer when ready if you think you will miss a payment — they may offer a hardship plan.

Is a cash advance the same as a balance transfer?

No. A balance transfer moves an existing debt from one card to another, usually at a lower rate. A cash advance gives you new cash or a check. Both use your credit line, but they work differently and have different costs. Balance transfers often have promotional rates; cash advances almost never do.

Can I get a cash advance if I have bad credit?

Yes. Your credit limit is already set based on your credit history, so you can take a cash advance up to your limit regardless of your current score. However, the cash advance APR you receive may be higher if your credit is poor. Call your issuer to find out what rate you would pay before you withdraw.

How long does it take to get cash from a balance transfer check?

The check arrives by mail within 7 to 10 business days after you request it. Once you deposit it, your bank typically makes the funds available within 1 to 3 business days, depending on the bank. So plan for 10 to 14 days total from request to having the cash in your account.