The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
Cash advance credit cards are unique tools that allow you to borrow money from your credit card account. Unexpected expenses could leave you in a financial crisis. If you need an influx of cash for an emergency but don’t have enough funds to cover it, a cash advance can be a real lifesaver.
What's the downside?
MoneyGeek’s Take: Top 10 Credit Cards with Lower Cash Advance Fees
The top cash advance credit cards we’ve selected include several that do not charge any cash advance fees. The best ones also come with competitive cash advance APRs. For example, the Navy Federal Credit Union Platinum Card charges no cash advance fees for transactions carried out at Navy Federal branches or ATMs, and you may qualify for a low cash advance APR depending on your creditworthiness. Other factors that require your attention when choosing a card include annual fees, the ability to earn rewards, purchase APRs and added benefits.
Below, we list the very best cash advance credit card offers currently available. These include both low-fee cash advance cards and no-fee options. Our detailed listings offer insights, pros and cons, and an expert editorial review of the card.
Simmons Visa®
A fantastic low-interest card that comes with no annual fees
ExcellentRecommended Credit
None at this timeAPR Offer
None at this timeAPR Offer Duration
0% Intro APR, then 14.50% – 22.50% variable APR thereafterBalance Transfer Offer
14.50% – 22.50% VariableAPR
We love the Simmons Visa® because it gives people with excellent credit a great no-frills alternative. It comes with an extremely low interest rate and no annual fees for the life of the card.
This card might also work well for you if you wish to use it for transferring a balance from a high-interest card. A 0% APR offer on balance transfers stays in place for the first 12 months.
A complimentary worldwide travel accident cover provides peace of mind when you're traveling locally or overseas.
Pros
No annual fees
0% APR offer on balance transfers for 12 months
Low ongoing APR on purchases and balance transfers
Highly competitive APR on cash advances
Car rental and travel cover
No balance transfer fees after the intro period
Cons
Cash advance fees
Foreign transaction fees
Balance transfer fees during the first 12 months
Low interest rate
No annual fees
0% interest on balance transfers for the first 12 months
Car rental coverage
Up to $1,000,000 in travel accident insurance
Cash advance and foreign transaction fees apply
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
A good no-annual-fee business credit card for earning rewards
12.15% – 18.00% VariableAPR
$0Annual Fee
1x pointRewards Rate
NoneForeign Transaction Fee
We recommend the GO BIZ® Rewards Credit Card to small business owners who wish to earn rewards without paying any annual fees. You can opt for either a Visa or Mastercard. Both offer one reward point per dollar spent on eligible purchases. There is no maximum limit to the number of points you may earn or accumulate. However, your points stand to expire if you don’t use them within four years.
Using this card outside of the U.S. is perfect because it does not charge foreign transaction fees. Getting additional cards for your employees is possible, which gives you the ability to earn reward points faster. You may redeem your points for flight tickets, as cash back or to purchase gift cards.
Pros
No annual fee
No foreign transaction fee
No cap on earning rewards
No fees for additional cards
Visa/Mastercard benefit
Cons
1 reward point per dollar
Points expire after four years
No annual and foreign transaction fees
No cash advance fees at a NFCU branches or ATMs
No cap on rewards
Points remain valid for four years from the month in which you earn them
Up to 15% discount on qualifying business purchases at partner merchants
$0 fraud liability policy
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
A great no-annual-fee balance transfer card for people with average credit
Fair–ExcellentRecommended Credit
9.74% – 18% VariableAPR
$0Annual Fee
0% Intro APR, then 9.74% – 18% variable APR thereafterBalance Transfer Offer
0%Balance Transfer Fee
We like the Navy Federal Credit Union Platinum card because of several reasons. For starters, it comes with a limited-time intro 0% APR offer on balance transfers for the first 12 months, and you don’t have to pay any balance transfer fees. This card also does away with annual fees and cash advance fees.
Using the Navy Federal Credit Union Platinum card outside of the U.S. makes sense as it charges no annual fees. While most balance transfer cards require that you have good or excellent credit to apply, Navy Federal Credit Union makes this card available even to people with average credit.
Pros
No annual fees
No balance transfer fees
No foreign transaction fees
Intro 0% APR offer on balance transfers
Available for those with average credit
Cons
0% APR on balance transfers for 12 months
Need to initiate balance transfers within 60 days of getting the card
Penalty APR may apply if you make late or returned payments
No annual fees
Intro 0% APR for 12 months on balance transfers,then a variable APR of 9.74% – 18% after that
No balance transfer fees
Competitive standard APRs
No foreign transaction fees
Complimentary auto collision damage waiver
Travel and emergency assistance
$0 liability policy
Free access to your credit score
May qualify with average credit
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
A good no-annual-fee rewards card for earning points faster through its bonus categories
12.74% – 18.00% VariableAPR
$0Annual Fee
1–3 pointsRewards Rate
3xRewards Rate on Dining
2xRewards Rate on Gas
The GO REWARDS® Credit Card might require your attention if you’re looking for a no-annual-fee card that offers high reward rates on category-based spending and is made available to people with average credit.
Spending at restaurants comes with 3x points per dollar. Gas purchases earn 2x points per dollar. All other purchases come with 1x points per dollar. You also stand to earn 10,000 bonus points if you spend $1,000 on purchases in the first 90 days.
This card is perfect to use outside of the U.S. because it charges no foreign transaction fees. If you qualify for a low APR, you may use this card for balance transfers without paying balance transfer fees. There are no cash advance fees to pay either.
Pros
No annual fees
Sizable spend-based welcome bonus
Up to 3x points per dollar
Available for people with average credit
No foreign transaction fees
Cons
No travel and purchase protection
Making a late payment may result in a penalty APR
No annual, balance transfer, cash advance and foreign transaction fees
Spend $1,000 on purchases in the first 90 days and get 10,000 bonus points
Get 3x points per dollar for spending at restaurants
Get 2x points per dollar on gas
Get 1x point per dollar on all other purchases
No maximum limit to the points you may earn
Points don’t expire as long as your account is in good standing
Redeem points as cash back rewards or for airline tickets, hotels, car rentals, cruises and vacation packages, tours and attractions, event tickets, gift cards and merchandise rewards
You may qualify for this card with average creditworthiness
Complimentary auto rental collision damage waiver
Free access to credit score
Zero liability policy
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
A great no annual fee card that offers rewards and travel benefits
ExcellentRecommended Credit
$0Annual Fee
1.25 Points per $1Rewards Rate
1.25xRewards Rate on Groceries
1.25xRewards Rate on Gas
We love the Simmons Rewards Visa Signature® card because of its relatively low interest rates on purchases, balance transfers and cash advances.
Meant for people with excellent credit, this card gives you the ability to earn 1.25 reward points for every dollar you spend.
A 0% intro APR offer on balance transfers gives you easy means to save some money while paying off other high-interest credit card debt.
If you find yourself in a tight spot while traveling, you might benefit from the travel assistance and travel coverage this card provides.
Pros
Low interest on purchases and balance transfers
No annual fees
Competitive cash advance rate
Intro 0% APR offer on balance transfers for the first 12 months
No balance transfer fees after the promotional period
Earn 1.25 points for every dollar spent on purchases
Reward points for cash back, merchandise, airfare or vacations
Travel and car rental coverage
Visa Signature perks
Cons
Cash advance fees
Foreign transaction fees
Balance transfer fees during introductory period
Low interest rate
$0 annual fee
Intro 0% APR offer on balance transfers stays in effect for 12 months from account opening, then a variable APR of 16.50% – 24.50% thereafter
Earn 1.25 reward points per $1 spent
Redeem reward points as cash back, or use them to pay for merchandise, gift cards, car rentals, vacations or airfare
Car rental coverage
Travel accident insurance of up to $1,000,000
Get access to access to complimentary 24-hour Visa Signature concierge, exclusive hotels and special entertainment packages
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
A great no-annual-fee rewards card for people with average credit
8.99% - 18.00%APR
$0Annual Fee
1-3 pointsRewards Rate
3xRewards Rate on Dining
2xRewards Rate on Gas
We love the Navy Federal Credit Union GO REWARDS® credit card because it lets you earn higher-than-usual reward points on bonus categories without charging any annual fees. In addition, it does away with fees for foreign transactions, balance transfers and cash advances. What makes this card particularly worthy of attention is you may qualify even if you have average credit.
This card offers 3x points per dollar at restaurants, 2x points per dollar on gas and 1x point per dollar on all other purchases. There is no limit to the number of points you may earn, and they remain valid for as long as your account is in good standing. You may redeem your points as cash back, to pay for airline tickets and in other ways.
If you spend $1,000 on purchases in the first 90 days, you earn 10,000 bonus points.
Pros
No annual fees
Low intro APR offer on purchases
Good spend-based welcome offer
No foreign transaction fees
Earn up to 3x points per dollar
Those with average credit may qualify
Cons
Penalty APR may apply in case you make a late payment
No travel protection
No annual, foreign transaction, balance transfer and cash advance fees
Earn10,000 bonus points by spending $1,000 on purchases in the first 90 days
Earn 3x points per dollar at restaurants
Earn 2x points per dollar on gas
Earn 1x point per dollar on all other purchases
Redeem points for airline tickets, car rentals, hotels, event tickets, tours and attractions, cruises and vacation packages, gift cards, merchandise rewards or cash back rewards
People with average credit may qualify
$0 liability policy
Free access to credit score
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Navy Federal Credit Union cashRewards World Mastercard®
A good no-annual fee cash back card for those with average credit
13.40% – 18.00% variableAPR
$0Annual Fee
1.50% – 1.75% Cash BackRewards Rate
0%Balance Transfer Fee
Fair–ExcellentRecommended Credit
We recommend the Navy Federal Credit Union cashRewards World Mastercard® to people who have average to excellent credit and are looking for no-annual-fee cash back cards. If you have a direct deposit with Navy Federal, you earn 1.75% cash back on all purchases. If you don’t, you still earn 1.5% cash back on all purchases.
If you spend $1,000 or more on purchases in the first 90 days, you earn a cash back bonus of $100. the offer expires on Feb 28,2023. Using this card outside of the U.S. is perfect because it comes with no foreign transaction fees. It does away with balance transfer and cash advance fees as well.
Pros
No annual fees
Up to 1.75% cash back
Spend-based welcome bonus
Cons
No intro APR offer
Penalty APR may apply if your account is 60 days past due
No annual, foreign transaction, balance transfer or cash advance fees
Earn 1.75% cash back on purchases if you have direct deposit with Navy Federal
Earn 1.5% cash back on purchases if you don’t have direct deposit with Navy Federal
Earn unlimited cash back
Earn $100 bonus cash back by spending $1,000 on purchases in the first 90 days.The offer expires on Feb 28,2023.
Complimentary collision damage waiver
Zero liability policy
Free access to credit score
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
A good low-APR balance transfer card with no annual fees
13.49% – 17.99% VariableAPR
$0Annual Fee
0% Intro APR, then 17.99% APR thereafterBalance Transfer Offer
3%Balance Transfer Fee
We recommend the Gold Visa® Card to people looking for a no-annual-fee card with an intro APR offer on balance transfers. This card’s 0% APR on balance transfers stays in place for the first 15 months. However, you need to pay a balance transfer fee.
You pay no foreign transaction fees when you use this card outside the U.S. Your PenFed membership gives you access to discounts across various categories such as retail, home and auto.
Pros
No annual fees
0% APR on balance transfers for 15 months
No foreign transaction fees
Cons
Balance transfer fee of 3%
High APR applies on outstanding balances after the promo period
Penalty APR might apply in case of late/returned payments
No annual and foreign transaction fees
No cash advance fees
Intro 0% APR for 15 months on balance transfers, then a variable APR of 13.49% to 17.99%
3% balance transfer fee
Competitive standard APRs
Member discounts through partner merchants
Fraud monitoring
$0 liability policy
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Best for those looking for a credit-boosting card with a 0% intro APR
None–PoorRecommended Credit
$49Annual Fee
$200Min. Security Deposit
3# of Reporting Bureaus
12.99%APR
We recommend the Assent Platinum 0% Intro Rate Mastercard® Secured Credit Card issued by Synovus Bank to individuals who wish to build or rebuild their credit. You may provide any amount between $200 and $2,000 as your refundable security deposit, and the same will serve as your credit limit.
Getting this card might work well for you if you wish to make a purchase that you plan to pay off within a few months. This is because it comes with an intro 0% APR offer on purchases for the first six months.
Making your payments on time and using a small percentage of your credit limit can help improve your credit score as this card reports your payment history to the top three credit bureaus. You need to pay a $49 annual fee for as long as your account remains active. You also have to pay foreign transaction fees if you use your card outside of the U.S.
Pros
Low credit requirement
0% intro APR for 6 months
Low APR after the intro period
High credit line
Cons
Annual fee of $49
High security deposit
3% foreign transaction fee
Requires a refundable security deposit of at least $200
Regular credit reports to all three bureaus
Credit line of up to $2,000
Cash advance of $10 or 3% of the amount, whichever is greater
Up to $40 late payment fee
Credit score requirement: 300+
24/7 online access to your account
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
We recommend the no annual fee Platinum Rewards Visa Signature® Card to individuals who wish to earn high reward rates on gas purchases. This card offers 5X points per dollar on gas purchases paid at the pump and EV charging stations. You get 3X points at restaurants, supermarkets (including most Walmart and Target locations), and TV, radio, cable, and streaming services. All other purchases earn 1X points.
New cardholders may earn 15,000 bonus points if they spend $1,500 on purchases in the first 90 days. You may use this card to transfer debt from other credit cards by using its 0% APR offer on balance transfers for 12 months. However, a 3% balance transfer fee applies.
This card is perfect for international use as it comes with no foreign transaction fees. Cardholders get access to PenFed Member and Visa Signature discounts.
Pros
No annual fee
No foreign transaction fees
High rewards for gas and grocery purchases
Cons
High APR
Need excellent credit score to qualify
Mediocre rewards structure for general categories
0% intro APR for balance transfers for 12 months, then a variable APR of 17.99%
15,000 Bonus Points for spending $1,500 in first 90 days
No annual fee
5X points on gas purchases and 3X points on other bonus categories
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Our experts ensure you get the latest and most accurate information by collecting 57 data points from card issuers' websites, the Consumer Finance Protection Bureau and our partners. They rely on our unique ranking methodology to examine all new and existing cards from this category to arrive at their revised lists of the best cash advance credit cards on an ongoing basis. The process involves assigning specific percentages to all important parameters. Examples include:
Cash advance fee: 20%
Cash advance APR: 20%
Annual fee: 20%
Average APR: 20%
How to Compare Cards with Cash Advance Features in Mind
While taking out a cash advance isn’t the best idea, it’s a valuable option if you’re in a financial pinch. If you’re thinking about applying for a cash advance card, here are several factors to consider while you research available credit cards.
Cash Advance Fees
If you’re taking out a cash advance, look for a card with low cash advance fees. Typically, cash advances fees are a set amount ($5–$10) or a percentage of the advance total, whichever is higher. Some cash advance cards don’t charge any fees — we recommend seeking these out first. If unexpected expenses pop up, the last thing you want to do is tack on even more debt with costly card fees.
Cash Advance APR
Along with expensive fees, most cards charge a higher APR for cash advances. Always check the APR before you open a new card. Also, understand that — unlike standard APR — interest starts accruing on charges immediately when you take out a cash advance.
Introductory APR Offer
Cards may also feature an introductory APR offer. These offers typically feature 0% interest for extended periods of 12 to 18 months. Charging emergency expenses to your card and paying them off over time may be a better option than taking out a cash advance, especially with cards that have introductory APR offers.
MONEYGEEK QUICK TIP:
Cash advances are helpful if you need cash quickly, but they’re also an expensive way to borrow because of high rates and fees. There may be better options available, such as a balance transfer card or one that offers introductory 0% APR on new purchases, which would allow you to pay off any emergency expenses over a longer period.
Other Fees
Credit cards also charge other fees like annual fees, late fees and more. Always determine what charges are associated with a specific card before you apply.
Card Benefits
While you may be looking for the best card to use for cash advances, it’s a good idea to look at what other benefits a credit card offers. Many credit cards come with travel perks, purchase protections and other useful long-term benefits.
Credit Score
Your credit score and credit history determine if you qualify for a credit card. If your credit score isn’t up to par, look for credit cards geared towards people with fair or low credit.
MoneyGeek’s Quick Guide to Understanding Credit Card Cash Advances
With so many people living paycheck to paycheck these days, there’s often no extra cash cushion when unforeseen expenses occur. Your washing machine breaks. Your car needs repairs. Unexpected doctor visits lead to a pile of medical bills you can’t cover.
Credit card cash advances are a way to tap into quick cash to cover emergencies like these, especially if you don’t have an emergency fund. A cash advance is money given by a credit card issuer. They often come with expensive fees and APR charges, so they aren’t ideal in most circumstances.
So, why would someone use a cash advance? You can look at a cash advance as a short-term loan from your credit card company to use to get out of a financial bind and then pay it back. Cash advances are also more convenient than applying for loans, which can take several days or weeks to be approved.
It’s essential to understand how cash advances work, why they tend to be expensive, and alternatives that might be a better option in the long run.
How a Cash Advance on a Credit Card Works
A cash advance is essentially a loan from your credit card company for access to quick cash. Depending on your card, you can get cash advance funds in person, through an ATM or by check. Cash advance limits are usually lower than your credit limit.
The primary benefit of using a cash advance is the ability to address a pressing financial need immediately. Cash advance funds are easily accessible, giving you a quick way to take care of emergencies.
While you can pay for an emergency expense with a cash advance, remember that these charges are immediately subject to interest charges. Hefty fees and high APR rates usually accompany cash advances. Using a cash advance means you’ll end up paying more than the unexpected expenses themselves. It’s not an ideal option if you just want extra cash in your pocket.
MoneyGeek recommends only using cash advances in extreme circumstances where there’s no other option available, or you need access to extra money fast.
Why Cash Advances Are Expensive
Most experts say to avoid cash advances because of the high fees and interest charges attached to them. If you’re low on available funds, the last thing you want is extra charges on top of what you borrow. That’s precisely what happens when you use a cash advance.
Most cash advance fees are either a minimum flat rate charge or a percentage of the cash advance amount. For example, let’s say you take out a $500 cash advance. If the card has a $5 or 5% fee (whichever is greater), your cash advance fee would be $25.
The cash advance fee isn’t the only charge you need to worry about. Most cards have different APR rates for purchases and cash advances. Consider Chase Sapphire Preferred Card, one of the most popular rewards credit cards in the world. Depending on your credit, you could score a purchase APR as low as 15.99% with this card. Compare that to its 24.99% cash advance APR. Also, consider that the APR on card purchases doesn't typically kick in until after your statement due date. Interest on cash advances starts to accumulate immediately. If you had to borrow cash because of a difficult financial situation, the chances are it will take you a while to pay back your advance, leading to expensive interest charges.
The True Cost of a Cash Advance
Using the Chase Sapphire Preferred Card mentioned above, let’s look at how much it would actually cost to use a cash advance.
This particular card carries a cash advance APR of 24.99%. In our example, we’re taking out a $500 cash advance that we’ll pay back in 30 days, or roughly one month. Cash Sapphire Preferred comes with a cash advance fee of $10 or 5% of the amount of each transaction, whichever is greater. The cash advance fee in this scenario is $25.
Divide the cash advance rate (24.99%) by 365 (days in a year) = 0.06846
Multiply 0.06846 by the cash advance amount ($500) = $34.23
Multiply $34.23 by the number of days until its paid back (30) = $1026.99
Divide $1,026.90 by 100 percent = $10.27
$10.27 + $25 cash advance fee = $35.27
A $500 cash advance with the Chase Sapphire Preferred Card would cost you $35.27 to borrow for 30 days.
Alternatives to Cash Advances
Using a cash advance may get the job done when you need access to cash quickly, and you’re able to pay it off fast. There are several other options available that might prove to be better and cost less money, though:
Borrow money from family and friends. Borrowing money from loved ones is less expensive because you won't have to pay fees or interest charges. Keep in mind that if you aren’t diligent in paying back the money on time, you could damage the relationship, which is much worse than paying credit card fees.
A credit card with an introductory APR offer. If you’re going to use a credit card, why not charge unexpected expenses to a card with an 0% intro APR offer and pay it off slowly over the next year or longer?
Take out a personal loan. A personal loan might also have high interest rates depending on your credit, but probably still lower than those found with a cash advance.
Request a payment extension. Talk to your creditor to see if you’re eligible for a hardship extension. Many creditors are willing to work with customers to offer extended time to pay off debt or work out a payment plan that works for both parties.
Expert Advice For Finding the Right Card
We asked industry experts a couple of questions about cash advance credit cards with the aim of helping you make suitable decisions surrounding their use.
What fees or limits do people have to worry about when using their credit cards to get cash advances?
When might penalty APRs apply on cash advances?
What are some options a person could take to avoid using a cash advance on a credit card?
Debora Almirall
Instructor of Finance at the Labovitz School of Business and Economics at the University of Minnesota
Prateek Sharma
Assistant Professor of Finance at The University of Minnesota, Duluth
Robert Warren
Instructor at The University of North Dakota
Dr. Ajay Patel
Thomas S. Goho Chair in Finance, Area Chair and Professor at Wake Forest University
Catalin Stefanescu
Professorial Lecturer at the Kogod School of Business at American University
Madeline Reeves
Founder and CEO at Fearless Foundry
Abhijit Roy
Professor of Marketing at The University of Scranton
Michael Outar
Founder at Savebly.com
Jared Weitz
CEO at United Capital Source
Donna Bobek-Schmitt
Professor of Accounting, Darla Moore School of Business at the University of South Carolina
Brendan Sheehan
Managing Director at Waymark Wealth Management
David Peters
CPA, CFP, ChFC, CLU, CPCU, CGMA
Craig Joncas
Financial Advisor & Chief Executive Officer
Jonathan Grannick
Financial Planner & Owner Credentials: CFP®
Jon Coughlin
Private Wealth Manager at Munroe Morrow Wealth Management
Gabriel Shahin
President, CFP, MBA
Robby Lewis
Investment Advisor Representative at Gerber Kawasaki & Investment Management
Lena Nebel, CFP®, MSFS
Chief Operating Officer at BFG Financial Advisors
Rick Raybin, CFP®
Author and Founder of Lifetime Capital Group
Nick Rose, CFP®, CEPA®
Co-Founder & Financial Consultant at TrailWise Financial Partners
Rachel McCullough
Financial Planner at TCI Wealth Advisors
Kane Brolin
CERTIFIED FINANCIAL PLANNER™ Practitioner
AJ DiLiberto
COO, CCO at Noble Wealth Management
Thomas Kopelman
Co-Founder and Financial Partner at AllStreet Wealth
John Lopez
Senior Professor of Practice at C.T. Bauer College of Business at the University of Houston
Jordan Frey
MD, Founder of The Prudent Plastic Surgeon
Dr. Cory S. Fawcett
Medical Doctor, Certified High Performance Coach
Edward Nelling, Ph.D., CFA
Professor and Finance Department Head at Drexel University
Blain Pearson
Professor of Practice at Kansas State University
Raymond P. H. (Pat) Fishe
The Patricia A. and George W. Wellde, Jr. Distinguished Chair in Finance and Professor of Finance at the University of Richmond
Ling Thich
Personal Finance Content Creator at Finsavvy Panda
Marc Compeau
Professor of Practice, Marketing and Entrepreneurship at Clarkson University
Nada Nasr Bechwati
Associate Professor of Marketing at Bentley University
D'Arcy Becker
Professor and Chair of Accounting at the University of Wisconsin
Elizabeth Buffardi
CFP(R), CPA
Bobbi Olson
Financial Coach & Host of the "CentsAble Chat" Podcast
Jeanne Kelly
CEO and Founder of The Kelly Group
Sherrill Shaffer
Guthrie Distinguished Professor of Banking and Financial Services Emeritus at the University of Wyoming
Danielle Seurkamp, MS, MPAS®, FBS®, CFP®
Founder at Well Spent Wealth Planning
Rob Bertman, CFA, CFP®
Founder, Family Budget Expert
Jon Dulin
Founder and CEO at Money Smart Guides
FAQs About Cash Advance Credit Cards
MoneyGeek answered some of the most critical questions about using a cash advance and cash advance credit cards:
Credit score requirements depend on the specific card. Typically, we recommend you have a FICO credit score of at least 670 to qualify for most cash advance cards. However, cards are available for individuals with fair credit (a score between 580–669).
You could be refused a cash advance credit card if you don’t meet the credit card issuer’s credit requirements and other criteria.
No, not all credit cards offer cash advances. Check whether a card offers cash advances before applying.
Typically, cash advance fees range from 3% to 5 or a minimum of $10, whichever is greater.
Cash advances typically have a higher APR than the APR for regular purchases because you’re borrowing cash, not making a purchase. A cash advance is like a loan from a credit card issuer and carries a greater lending risk, hence a higher APR.
Chase cash advance costs depend on the specific card. The Chase Sapphire Preferred Card, for example, carries a $10 or 5% (whichever is higher) cash advance fee, plus a 24.99% cash advance APR.
Credit unions generally charge lower rates and fees because they don’t need to generate large profits to satisfy investors and shareholders.
Typically, cash advances are available via ATM, by check or in-person if there’s access to a local branch.
Getting a cash advance can take just a few minutes. The fastest way is to use an ATM and request a cash advance.
Using a cash advance doesn’t automatically hurt your credit. However, it does increase your credit utilization ratio, which is one of the primary factors in determining credit scores.
A cash advance is the primary way to get cash from your credit card. You can also buy a prepaid gift card or purchase an item you can sell for cash.
Each credit card has its own cash advance limit, which is usually a percentage of your card’s total credit limit.
Yes, there are a few credit cards for people with fair credit that offer cash advances.
Some cash advance credit cards also earn rewards for card spending.
Cash advances aren’t an ideal option for borrowing money, especially if you’re looking to avoid extra credit card charges. But, if you’re in a bind and need access to cash fast, using a cash advance may be the best choice available. Take time to research each card option by looking at details like cash advance fees and APR charges before choosing a card.
Next Steps
Take a close look at what the best cash advance cards have to offer and make a selection after comparing your top options based on parameters such as cash advance fees, cash advance APRs, annual fees and the possibility to earn rewards on purchases.
Kevin Payne is a personal finance writer specializing in credit cards, banking, and student loans. He is a regular contributor to Forbes Advisor, The Ascent, Investing Answers, and Student Loan Planner. Kevin is the budget and family travel expert behind FamilyMoneyAdventure.com.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available. Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more aboutour editorial policies andexpert editorial team. Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.