Yes, you can pull cash off a credit card, but it costs more than a purchase
You can withdraw cash from a credit card at an ATM, bank teller, or through a cash advance at a store. The card issuer treats this as a cash advance — a short-term loan separate from your regular credit line. Unlike a purchase, a cash advance starts charging interest immediately, has its own fee (usually 3 to 5 percent of the amount), and often carries a higher interest rate than purchases on the same card.
The money appears in your bank account or your hand within minutes to a few hours. But the cost of getting it that way means you should only do this if you have no other option — a personal loan, a line of credit, or even a payday loan from a licensed lender will almost always be cheaper.
Key Takeaways
- Cash advances charge a fee (typically 3 to 5 percent) plus a higher interest rate than purchases, with interest starting immediately rather than after a grace period.
- You can get a cash advance at an ATM using your PIN, at a bank teller with your card and ID, or sometimes at a store checkout.
- Most credit card companies set a cash advance limit that is lower than your total credit limit, and you can find yours by calling the number on your card or logging into your account.
- The interest you pay on a cash advance is not the same as the purchase APR — check your card's terms or call your issuer to learn the exact rate before you withdraw.
Where and how to get cash from your credit card
An ATM is the fastest and most private way. Insert your card, enter your PIN, select "cash advance" or "withdrawal" (the exact wording varies by machine), and choose your amount. The ATM will show you the fee before you confirm. Money is available immediately.
A bank teller can also process a cash advance if you bring your card and a photo ID. This method works if you do not have a PIN set up or if the ATM has a daily limit that is too low. Tellers can sometimes process larger amounts than ATMs allow, though your card's cash advance limit still applies.
Some retailers offer cash advances at checkout — you can ask the cashier if they offer this service. The process is similar to a debit card cash-back transaction, but it is treated as a cash advance on your credit card, not a purchase. Not all stores offer this, and those that do may charge an additional fee on top of your card issuer's fee.
Fees and interest rates for cash advances
The cash advance fee is a percentage of the amount you withdraw, typically 3 to 5 percent. A $300 cash advance might cost $9 to $15 in fees alone. Some cards set a flat minimum fee (for example, $3 minimum) so a very small advance still costs at least that much.
The cash advance APR is separate from your purchase APR and is usually higher — often 5 to 10 percentage points above what you pay on regular purchases. If your purchase rate is 18 percent, your cash advance rate might be 24 or 26 percent. Interest begins accruing the day you withdraw the money; there is no grace period like there is for purchases.
You can find both the fee and the rate in your card's terms and conditions, which you can request from your issuer or view online. Call the number on the back of your card and ask directly if you want to know before you withdraw.
Your cash advance limit
Your credit card issuer sets a separate cash advance limit that is usually much lower than your total credit limit. If your credit limit is $5,000, your cash advance limit might be $1,000 or $1,500. This limit protects the issuer from large cash advances and protects you from borrowing more cash than you can afford to repay quickly.
You can find your cash advance limit by logging into your online account, calling the customer service number on your card, or checking your most recent statement. If you need to know before you go to an ATM, a quick call takes two minutes.
If you try to withdraw more than your limit, the ATM or teller will decline the transaction. You cannot override this limit, even if you have available credit remaining on your card.
How a cash advance affects your credit and your balance
A cash advance counts as a debt on your credit report the same way a purchase does — it is part of your total credit card balance. If you carry a balance, the cash advance balance is reported separately to credit bureaus, which can affect how lenders view your account. Carrying a cash advance also signals to future lenders that you have borrowed against your credit card, which some view as a sign of financial stress.
When you make a payment to your credit card, the issuer applies it to your lowest-interest debt first — usually purchases. Any remaining payment goes to the cash advance. This means if you withdraw $300 in cash and charge $200 in purchases, a $400 payment covers all the purchases and only $200 of the cash advance, leaving $100 still accruing interest at the higher cash advance rate.
Cheaper alternatives to a credit card cash advance
A personal loan from a bank or credit union usually has a lower interest rate than a cash advance, even if your credit is not perfect. Rates range from 6 to 36 percent depending on your credit score and the lender, but most people with fair credit will find a personal loan cheaper than a cash advance. The loan takes a few days to fund, so this works if you are not in an immediate crisis.
A line of credit from your bank or credit union works like a credit card but often has a lower interest rate. If you have an existing relationship with a bank, ask whether they offer a personal line of credit. You can draw from it as needed and pay interest only on what you use.
A payday loan from a licensed lender is expensive but sometimes cheaper than a cash advance if you repay it within two weeks. A typical payday loan costs $15 to $20 per $100 borrowed, which equals 390 to 520 percent APR — terrible on paper, but if you repay in 14 days, you pay only the flat fee, not the full year's interest. A cash advance at 26 percent APR costs more over two weeks if you do not pay it off immediately. However, payday loans are predatory and designed to trap you in repeat borrowing; use this option only if you can repay within the loan term.
If you have family or friends who can lend you money, that is always the cheapest option. A personal loan between people you know carries no interest and no fees.
What happens if you cannot repay a cash advance
If you carry a cash advance balance, interest accrues daily at your card's cash advance rate. After 30 days of missed payments, the issuer reports the account as late to credit bureaus, which damages your credit score. After 60 to 90 days, the issuer may freeze your account and stop allowing new charges or cash advances.
If the debt goes unpaid for six months, the issuer may close the account and sell the debt to a collection agency. The collection agency can then contact you by phone and mail, and may pursue legal action to recover the debt. A judgment against you can result in wage garnishment or a bank account levy, depending on your state's laws.
If you are struggling to repay, contact your card issuer immediately and ask about a hardship program. Many issuers offer temporary interest rate reductions or payment plans for customers in financial difficulty. Acting before you miss a payment gives you more options than waiting until the account is already late.
Frequently Asked Questions
Can I use a credit card to get cash at any ATM?
Most ATMs accept credit cards for cash advances, but some machines are set up for debit cards only. Look for an ATM at your card issuer's bank or a major network like Allpoint or MoneyPass, which accept most cards. If the ATM declines your card, try a different machine or visit a bank teller instead.
Is a cash advance the same as a balance transfer?
No. A cash advance withdraws money to your hand or bank account and charges a higher interest rate immediately. A balance transfer moves debt from one card to another and may offer a 0 percent introductory rate for a set period. Balance transfers are for existing debt; cash advances are for getting cash.
What is the difference between a cash advance and using my debit card?
A debit card withdrawal takes money directly from your bank account with no fee or interest. A cash advance borrows money on your credit card and charges both a fee and interest. If you have money in the bank, use your debit card. Use a cash advance only if you do not have the cash available.
Will a cash advance hurt my credit score?
A single cash advance does not automatically hurt your score, but carrying a balance will. The advance increases your total credit card debt, which raises your credit utilization ratio — the percentage of your available credit you are using. High utilization lowers your score. Paying off the cash advance quickly minimizes this damage.
Can I get a cash advance if I am behind on payments?
Most issuers will not allow a cash advance if your account is already late or if you have missed a recent payment. If your account is current, you can usually get a cash advance even if you have carried a balance in the past. Call your issuer to confirm your account status before you try to withdraw.