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Best Cash Advance Credit Cards in December 2024: Should You Get One?

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A cash advance credit card lets you use your card to quickly access cash.
While a credit card cash advance may seem like a helpful solution in a financial emergency, we don’t recommend using a cash advance due to the high fees and interest rates you’ll have to pay.
Instead, we recommend using a card with a long 0% intro APR, so you can pay off large purchases over time without paying interest.
You can also take out a personal loan as a lower-cost option with more flexible terms.

What is a cash advance on a credit card?

A cash advance is a way to take the available credit on your credit card and use it to take a loan in the form of cash. Essentially, you’re using your credit card to borrow cash, rather than charging a purchase to your credit card. You’ll have to pay back what you’ve borrowed, and there’s usually no grace period for interest.

Cash advance vs. personal loan

A cash advance is a type of loan, though it’s not the same as a personal loan. A personal loan is a type of installment loan that allows borrowers to take a one-time cash payment. This is paid back plus interest in monthly payments over a set period of time. Cash advances are shorter-term loans from your credit card rather than a lender, and charge higher fees and interest rates than personal loans.

Learn more about personal loans.

How to get a cash advance on a credit card

Get a cash advance at your bank:

Let your bank teller know you’re looking for a cash advance.
Use your credit card to complete the transaction.

Get a cash advance at an ATM:

Insert your card.
Enter your PIN.
Select the cash advance option.
Complete the transaction and receive your cash.

Get a cash advance using a check:

If you have a check (sometimes referred to as a convenience check) from your credit card issuer, fill one out and name yourself as the payee.
Cash or deposit the check at your bank.

Get a cash advance through an online transfer in your account:

Log in to your credit card account.
Request the cash advance.
Your cash advance will typically be deposited into your checking account within a few days.

Pros and cons of cash advance credit cards

Get an emergency loan immediately
Get cash rather than credit to pay for expenses

Substantial fees (usually around 5%)
High cash advance APR (interest rate)
High purchase APR
No grace period for interest
May not have access to your entire credit limit
Need to apply for a cash advance credit card if your card doesn’t allow cash advances

What are cash advance fees on credit cards?

You’ll usually have to pay a fee for making a cash advance. Most issuers will charge either a flat fee or a percentage, depending on which is greater. The fee is usually around 5% or $10.

Credit card cash advance calculator

Example: Let’s take a look at how much a $1,000 cash advance would cost if you paid it back in 30 days using a credit card with a cash advance fee. This card has a cash advance APR of 17.99% and 5% cash advance fee.
Interest:
1. 0.1799 cash advance APR ÷ 365 days in a year = 0.0004928 daily interest rate
2. 0.0004928 daily interest rate x $1,000 cash advance = $0.49 daily interest
3. $0.49 daily interest x 25 days (number of days in a billing cycle) = $12.25 in interest
Cash advance fee:

$1,000 cash advance x 0.05 cash advance fee = $50 in fees

$50 fees + $12.25 interest = $62.25 total

The interest and fees for a $1,000 cash advance in this scenario are more than 6% of the principal. This is a hefty amount compared to what you might pay with a personal loan, and assumes you would pay off the balance in the first month. If you continue to carry a balance, the interest could build up rapidly.

Best cash advance credit cards

You can find a few credit cards that wave the cash advance fee and offer a reasonable APR for cash advances. While a cash advance credit card generally isn’t the best option for paying off debt, you should consider the following cards if you want to opt for a cash advance:

Card	Cash advance fee	Annual fee	Cash advance APR	Regular purchase APR
PenFed Gold Visa® Card	$0	$0	17.99% variable	17.99% Variable
PenFed Platinum Rewards VISA Signature® Card	$0	$0	17.99%	17.99% variable
PenFed Power Cash Rewards Visa® Card	$0	$0	17.99%	17.99% Variable
DCU Visa® Platinum Credit Card	$0	$0	13.25% to 18.00% (variable)	13.25% to 18.00% (variable)
DCU Visa® Signature Cash Rewards Card	$0	$0	16.00% to 18.00% (variable)	16.00% to 18.00% (variable)
DCU Visa® Platinum Secured Credit Card	$0	$0	16.25% (variable)	16.25% (variable)

You’ll have to be a credit union member to qualify for these cards. The good news is that PenFed and DCU membership is open to anyone. If you don’t fit the regular qualifications for these credit unions, you can join a partner organization for a small fee. (For example, you can join Reach Out for Schools for $10 to qualify for DCU membership.)

Cash advance credit cards by issuer

If you don’t want to join a credit union, you’ll find that many cards offer cash advances, including the cards below. Keep in mind that these cards come with cash advance fees and high cash advance APRs.

Issuer	Card	Cash advance fee	Annual fee	Cash advance APR	Regular purchase APR
Chase credit card cash advance	Chase Freedom Flex℠	Either $10 or 5% of the amount of each transaction, whichever is greater.	$0	29.49% Variable	19.74% - 28.49% variable
Capital One credit card cash advance	Capital One Savor Cash Rewards Credit Card (see rates & fees)	5% of the amount of the cash advance, but not less than $5	$0	29.49% (Variable)	19.49% - 29.49% (Variable)
Citi cash advance credit card	Citi Double Cash^® Card	5% of each cash advance; $10 minimum	$0	29.74% (Variable)	18.49% - 28.49% (Variable)
Wells Fargo credit card cash advance	Wells Fargo Reflect^® Card	Refer to Important Credit Terms	$0	Refer to Important Credit Terms	17.49%, 23.99%, or 29.24% Variable APR
Bank of America credit card cash advance	BankAmericard^® credit card	4% of the amount of each transaction	$0	18.74% - 28.74% Variable APR	15.74% - 25.74% Variable APR
Discover credit card cash advance	Discover it^® Cash Back	Either $10 or 5% of the amount of each cash advance, whichever is greater.	$0	29.49% Variable APR *Rates as of December 12, 2024	18.49% - 27.49% Variable APR *Rates as of December 12, 2024

How to avoid taking a cash advance

There are other ways to borrow cash that are less risky and less expensive than a cash advance. We suggest leaving a cash advance as a last resort and trying one of these first:

Use a credit card with a 0% intro APR
Get a personal loan
Do a balance transfer to another credit card
Request an extension on your payment
Borrow from family and friends
Get early access to your paycheck

Use a card with a 0% intro APR

A 0% intro APR credit card offers up to 21 months to pay off an emergency purchase without paying interest. This is a much better option than a cash advance. These cards also come with lower APRs and sign-up bonuses that can help you pay off the purchase. Plus, many of these cards have no annual fee.

Credit Cards	Our Ratings	Intro Purchase APR	Regular APR	Rewards Rate
Capital One Savor Cash Rewards Credit Card Apply Now on Capital One's secure site Rates & Fees	4.6	0% intro on purchases for 15 months	19.49% - 29.49% (Variable)	3% Cash Back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services, 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply), 8% Cash Back on Capital One Entertainment purchases, 1% Cash Back on all other purchases	Apply Now on Capital One's secure site Rates & Fees
Chase Freedom Unlimited^® Apply Now on Chase's secure site	4.6	0% Intro APR on Purchases for 15 months	19.74% - 28.49% Variable	Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases	Apply Now on Chase's secure site
Blue Cash Preferred^® Card from American Express* Learn More	4.6	0% on purchases for 12 months	18.49%-29.49% Variable	Earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more), 1% Cash Back on other purchases. Terms apply.	Learn More
Chase Freedom Flex℠* Learn More	4.5	0% intro APR on purchases for 15 months	19.74% - 28.49% variable	5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter. Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.	Learn More
Citi Custom Cash^® Card Apply Now on Citibank's secure site Rates & Fees	4.4	0% intro APR for 15 months on Purchases	18.49% - 28.49% (Variable)	Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2026.	Apply Now on Citibank's secure site Rates & Fees
Wells Fargo Autograph^℠ Card* Learn More	3.6	0% intro APR for 12 months from account opening on purchases	19.49%, 24.49%, or 29.49% Variable APR	Earn unlimited 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus earn 1X points on other purchases	Learn More

*The information for the Blue Cash Preferred^® Card from American Express, Chase Freedom Flex℠ and Wells Fargo Autograph^℠ Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

See all of the best 0% APR credit cards.

Get a personal loan

If you aren’t in a hurry to get cash, you may want to look into a personal loan. APRs for personal loans currently range from around 5.99% to 35.99%. If you have a good credit score, a history of on-time payments, a steady income and a low debt-to-income ratio, you’re likely to be offered an interest rate lower than what you’d pay on a credit card cash advance. Personal loans offer set monthly payments and repayment dates, and interest generally doesn’t start accruing from day one.

Learn more about how to apply for a personal loan.
Do a balance transfer to another credit card

If you’re trying to make room on a credit card for a large purchase, a balance transfer might be an option. A balance transfer credit card allows you to transfer debt from one card to another. A balance transfer can significantly reduce fees and interest, making it a more affordable option compared to a cash advance. Plus, many balance transfer credit cards come with an intro APR on balance transfers, meaning you won’t pay any interest for anywhere from six to 21 months.

See the top balance transfer credit cards.
Request an extension on your payment

In situations where you have an unexpected expense like a major home or car repair or a medical bill, don’t underestimate the power of an honest conversation with the company’s billing department. See if they can delay the payment date or split the bill into monthly payments. Whatever you do, being proactive and acknowledging the debt will go a long way.

A LendingTree survey found that 60% of individuals with medical debt have negotiated their bills in some form. Meanwhile, 90% who asked were at least partially successful and 54% said they received exactly what they asked for.
Borrow from family and friends

Borrowing from people you know isn’t the best strategy — but in a pinch, it could be an option. Generally, your loved ones may be more willing to help you out in troubled times. They’re likely to be flexible with repayment terms and expect little, if any, interest.

The downside is that if they need the money back before you’ve repaid it, or if you don’t hold up your end of the bargain, your relationship could become awkward. If you decide to borrow from your family, create a personal loan contract, so you’ll all be on the same page.
Get early access to your paycheck

Rather than pay interest on a credit card cash advance or a personal loan, you may be able to use a mobile app to get money from your paycheck before payday. While you may end up paying a tip or a small fee to use one of these apps, you’ll likely pay less than the interest and fees you would pay for a credit card cash advance.

Three paycheck apps worth considering:
- EarnIn
- Chime
- DailyPay
Tip

It’s a good idea to start an emergency fund to avoid a cash advance in the future. Aim to build up a savings account that has three to nine months’ worth of expenses for future emergencies that require quick access to cash.

Do you have unused rewards in your credit card account?

You may have more cash in your account than you think. According to a LendingTree survey, nearly 7 in 10 rewards credit cardholders are sitting on unused cash back, points or miles. In fact, 40% of rewards cardholders haven’t cashed out any rewards in the past year.

Redeeming the rewards you’ve earned can save you money on everyday purchases or assist in paying down your credit card balance. Just be sure you’re not spending more or going into debt in order to earn additional rewards.

Frequently asked questions

A cash advance is when you use your credit card to get cash. For example, if you use your credit card to withdraw cash from an ATM (which will require a PIN), this is a cash advance. You might also get convenience checks in the mail, offering you the ability to get cash from your credit card.

You can’t borrow cash from your credit card without doing a cash advance, but there are other ways to earn cash from your credit card. Cash back credit cards offer anywhere from 1% to 6% cash back on purchases. This can be redeemed as a direct deposit, a statement credit, a paper check by mail or an ATM withdrawal.

We don’t know of any credit cards that offer a 0% APR for a cash advance. Most cash advance credit cards charge interest as soon as you complete the cash advance. However, credit union credit cards often come with a lower-than-average APR for cash advances.

You can get a cash advance at an ATM, but you’ll need to know your PIN for your credit card.

It’s typical for issuers to limit how much cash you can get from a cash advance. This cap might be set at a percentage of your card’s credit limit, such as 30%. To find out your exact cash advance limit, check your online account or call the number on the back of your card.

Many credit cards charge a cash advance fee in the vicinity of 5%. So, for example, it would cost you $15 to get a $300 cash advance on a card with a 5% cash advance fee. It is possible to find credit cards with no cash advance fee, but they typically require a credit union membership.

Taking a cash advance doesn’t hurt your credit score because it’s not a specific item that’s listed on your credit report. However, as you repay the advance, making late payments on your credit card may cause a drop in your credit score.

If you have a credit card that allows cash advances, you can withdraw cash from an ATM or at a bank in a couple of minutes.

Methodology

How we chose our picks of best credit cards for bad credit

To bring you the list of credit cards for bad credit, we use an objective rating and ranking system that compares features across a large set of credit cards (over 200 of them from over 50 issuers). We use calculations to estimate the value of each card for the average cardholder, based on LendingTree and U.S. Bureau of Labor Statistics data.

In selecting the best credit cards for a cash advance, we’ve selected cards that don’t charge a cash advance fee and cards with a lower cash advance APR and regular purchase APR. All of the cards on this list charge no annual fee.

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply

The information related to the Blue Cash Preferred^® Card from American Express, Chase Freedom Flex℠, Wells Fargo Autograph^℠ Card and Wells Fargo Active Cash^® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.

Sammi Scharf

Sammi Scharf is a staff writer at LendingTree, where she compares and reviews credit cards. She loves to help consumers make the best financial decisions and find products that match their lifestyle. Sammi entered the personal finance space in 2022, when she joined LendingTree as a web content coordinator.

Through her work, Sammi has fostered a profound knowledge of credit card products. She enjoys deep-diving into card benefits that people may not know about and helping readers see how they can leverage all the features on their credit cards to save money.

Before joining the personal finance world, Sammi worked in the home appliances and real estate spaces. She wrote product information about appliances and new homes coming to market. Her passion for explaining products to consumers and helping them tackle major financial decisions led her to personal finance writing. When Sammi is not researching and reviewing credit cards, she’s training for her next race or hitting the beach.

Specialties

Credit card reviews
Credit card comparisons
Rewards programs
Travel and travel loyalty programs

Achievements

2 years of credit card reporting experience
Nearly 50 articles written for LendingTree
Helped develop LendingTree’s process for updating credit card details.

Education

Bachelor of Arts, Appalachian State University

Sammi’s favorite credit cards

“I’m all about cash back credit cards. I love the Wells Fargo Active Cash^® Card because it’s an easy way to earn 2% cash back on everything I purchase. We’re a big Amazon household so I also love the Prime Visa. I’ve been able to use my cash back earnings to purchase furniture from Amazon for my home. Finally, the Chase Freedom Unlimited^® is my favorite go-to credit card for dining out at restaurants.”

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Key takeaways