How to get cash from a credit card

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Key takeaways

Most credit card companies allow you to withdraw money using your credit card at a bank or ATM.
You can easily withdraw money without a PIN by using a convenience check, contactless ATM, peer-to-peer payment service, or by visiting the bank.
Credit card cash advances come with high fees. Additionally, the interest rate is higher than for regular purchases and begins accruing immediately.

How to get cash from an ATM without charges and additional fees might sound too good to be true, and you’d be right. While it’s possible to withdraw money from an ATM in a pinch – you will need to have a PIN to use a credit card at an ATM – it’s only a good idea to do so in an emergency when you have no other options. First, try to use your debit card without a PIN, simply select the credit option.

The problem with credit card cash advances is that they come with fees and high interest rates, making them costly. While they only should be used as a last resort, it’s still good to know that this option exists and how it works.

In this article, we’ll go over how you can use your credit card to withdraw funds, how to bypass a credit card PIN, and alternative ways to get funds fast – and for less.

How credit card cash advances work

Credit card cash advances allow you to withdraw money from your credit account. You are basically purchasing money and will be charged interest and fees on the transaction.

Cash advances work differently than regular purchases you make in-store or online. With an advance, you are borrowing money against a separate limit. Your cash advance limit is typically only a percentage of your spending limit. You can find out what it is by checking a recent bill or by calling your issuer.

There are three ways to take out a cash advance:

Visit a bank branch
Withdraw funds from an ATM
Write a convenience check and deposit it

To perform use an ATM, you do need a PIN for your credit card. If you don’t already have one, you can request it from your issuer.

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How to get cash from a credit card at an ATM or bank

You can easily get a credit card cash advance from an ATM or a bank teller.

Withdrawing cash with from an ATM with your credit card is very similar to using a debit card. Do credit cards need a PIN? Yes, you do need a PIN number for your credit card. The PIN ensures that only you can access your account.

To withdraw funds from an ATM follow these instructions:

Insert credit card into an ATM
Enter your PIN
Select the ‘cash withdrawal’ or ‘cash advance’ option
Enter the amount you want to withdraw
Acknowledge that you accept the associated fees
Complete the transaction and collect your money

If you don’t have a PIN or would rather deal with a person, you can visit your bank and request an advance from the teller. You will need to provide a government-issued ID to prove your identity.

Knowing how to use a debit card or credit card without a PIN can be helpful in emergencies.

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Can you get cash from a credit card without a PIN?

How can you withdraw money from an ATM without a PIN or OTP? It’s actually pretty easy.

Visit a bank: Go to your bank and request an advance from the teller. You will need to present a valid government-issued ID. The teller can process the transaction and provide you with the money, though this method often incurs higher fees than using an ATM.

Convenience checks: Some companies provide convenience checks that are linked to your credit account. You can write these checks to yourself (within your cash advance limit,) then deposit them into your bank account and withdraw the money. While this method doesn’t require a PIN, it does carry the same high fees and interest rates as an advance from an ATM. The big issue with convenience checks is that they are a security risk. If you don’t plan on using them, shred them.

Peer-to-peer payment services: Another option is to use peer-to-peer payment services like PayPal, Venmo, or Cash App. You can send money to a trusted friend or family member using your credit card, and they can withdraw the money and give it to you. Keep in mind that both Venmo and Cash App charge a 3% fee for credit card transactions. You will also more than likely have to pay a cash advance fee to your issuer.

Prepaid debit cards: Some issuers allow you to transfer funds from your credit card to a prepaid debit card. Once loaded, you can use this prepaid card to withdraw money from an ATM. This method may incur fees but provides a way to access funds without a PIN.

Contactless or cardless ATM: You may be able to withdraw money without a PIN using a contactless or pay code-enabled ATM. Add your card to your digital wallet for this to work or you can use the bank’s app. This feature is not available with every issuer. Open your digital wallet and scan the QR code or simply hold your device close the the ATM and withdraw money.

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Why you should be cautious when it comes to cash advances

Cash advances are convenient but they can be costly. You will have to pay additional fees plus higher interest rates. Before you take out an advance, make sure you have a plan to pay the money back as soon as possible.

One-time cash advance fees

Issuers charge a fee each time you withdraw money. These fees are either a flat fee of $5 to $10 or a percentage of the amount withdrawn, whichever is greater. For example, you might be charged 5% of the full withdrawal amount or a minimum fee of $10 plus the ATM or teller fees. Always check your issuer’s terms and conditions to understand the exact fee structure before taking out an advance.

High interest rates

Cash advance interest rates can be double or even triple the standard purchase APR, often exceeding 20%. Additionally, interest begins accruing immediately, without the standard 20 to 30 day grace period. This means you’re charged interest from the moment you withdraw the funds.

Negative effects on credit scores

Taking out an advance does not directly hurt your score. What it does is increases your utilization rate. This is your balance compared to your total limit. A high utilization rate can lower your score and signal to lenders that you may be in financial distress. Additionally, all the fees and higher interest rates make them harder to pay off. If you’re unable to pay off your balance and maintain a low utilization rate, your score will suffer.

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Alternatives to cash advances

Before resorting to a cash advance, consider these alternatives that can help you access funds with lower costs:

Personal loan: Personal loans typically offer lower interest rates (average of 12.22% as of May 2024) and provide a fixed repayment schedule. This can help manage your debt more effectively.

Borrow from friends or family: If possible, borrow money from friends or family. Ensure clear terms are set to avoid any misunderstandings.

Cash advance app: These apps allow you to borrow money against your next paycheck often with few fees, no interest, and no hard inquiry.

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Beware of online cash advance loans

Online cash advance loans often have very high interest rates and fees. The annual percentage rate (APR) can reach triple digits like with payday loans, trapping you in a debt cycle that’s difficult to escape from. Borrowers might face hidden fees, unclear terms, and aggressive collection tactics. Avoid these loans and look for cheaper borrowing options.

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Frequently asked questions

1. Can I get cash from a credit card without charges?

Getting funds from a credit card without charges is practically impossible. Most, if not all, issuers charge fees and higher APRs for cash advances. You may be able to find promotional terms or lower fees. Check your issuer’s terms and conditions before you take out an advance.

2. How much does it cost to withdraw cash from a credit card?

Withdrawing money using a credit card typically costs a percentage of the transaction, often around 3-5%, or a flat fee, whichever is greater. Additionally, interest rates for advances are higher than for regular purchases and interest starts accruing immediately. These combined costs make advances a costly option.

Bottom line

Credit card cash advances have some advantages – you can borrow money instantly without a hard inquiry – but can be costly. Between issuer fees, ATM fees, and accruing interest immediately, you can pay a lot for your money. It’s best practice to treat advances as a last resort to be used only in a dire emergency. Know that they are there for when you need funds quickly but try to exhaust all other options first and be sure to pay off the balance as quickly as possible.

1. Paycheck Advance is For eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank. Expedited disbursement of your Paycheck Advance is an optional feature that is subject to an Instant Access Fee and may not be available to all users. Expedited disbursements may take up to an hour. For more information, please refer to Paycheck Advance Terms and Conditions.

2. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.

3. Individual results may vary. Using your credit card responsibly may allow you to improve your credit score. Credit building depends on various factors, including your payment history, credit utilization, length of credit history, and other financial activities.

4. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.

5. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Funds held in Savings Pods are FDIC-insured on a pass-through basis up to $250,000 at our partner bank Choice Financial Group, member FDIC

6. Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive $500 or more in Qualifying Deposits into your Current Account over the preceding 30-day period. For more information, please refer to Fee-free Overdraft Terms and Conditions.

7. You may earn Points in connection with your everyday spending and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. The Current Points program is not available to Teen Account holders. See Current Points Terms and Conditions.

8. Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.

9. Boost Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a Boost Bonus of at least $0.01. The Boost rate on Savings Pods is variable and may change at any time. The disclosed rate is effective as of August 1, 2023. Must have $0.01 in Savings Pods to earn a Boost rate of either 0.25% or 4.00% annually on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00%. A qualifying direct deposit of $200 or more is required for 4.00%. No minimum balance required. For more information, please refer to Current Boost Terms and Conditions.

10. Cryptocurrency services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC, and may not be available in all states. Terms and conditions apply. When you buy or sell cryptocurrency, a difference between the current market price and the price you buy or sell that asset for is called a spread. However, unlike most other exchanges Current does not charge an additional trading fee. Cryptocurrency transactions are a form of investment, and all investments are subject to investment risks, including possible loss of the principal amount invested. Cryptocurrency is not insured by the FDIC or any other government-backed or third-party insurance. Your purchase of cryptocurrency is not a deposit or other obligation of, or guaranteed by, Choice Financial Group or Cross River Bank. The cryptocurrency assets in your Zero Hash account are not held at Current, Choice Financial Group, or Cross River Bank. Current, Choice Financial Group, and Cross River Bank are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither Current, Choice, nor Cross River Bank is involved in the purchase, sale, exchange of fiat funds for cryptocurrency, or custody of the cryptocurrencies. Terms and Conditions apply (platform and user agreements). Crypto on Current is not currently available in HI. Licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. This does not constitute investment advice.

11. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Your money is FDIC-insured on a pass-through basis up to $250,000 at each of our partner banks, Choice Financial Group and Cross River Bank, members FDIC.

12. Average value based on Fine Hotels + Resorts bookings in 2023 for stays of two nights. Benefits include daily breakfast for two, room upgrade upon arrival when available, $100 amenity, guaranteed 4PM late checkout, and noon check-in when available. Certain room categories not eligible for upgrade. $100 amenity varies by property. Actual value will vary based on property, room rate, upgrade availability, and use of benefits.

13. Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

14. The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

15. Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one- way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

16. Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

17. Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions, and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

18. When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

19. Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited to up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

20. Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

21. The secured Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.

22. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

23. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.

24. There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.

25. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.

26. Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.

27. Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2020 and October 2020 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.

28. On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.

29. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

30. SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.

31. Tipping or not tipping has no impact on your eligibility for SpotMe®.

32. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

33. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.

34. Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.

35. Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.

36. Funds are automatically debited from your Checking Account and typically deposited into the recipient’s Checking Account within seconds. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed.

37. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.

* EarnIn is not available for Connecticut residents

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.

6 Tricks to Withdraw Money from a Credit Card

Key takeaways

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How credit card cash advances work

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