Yes, you can withdraw cash at an ATM with a credit card, but it costs more than a debit card and the interest starts immediately
Most credit cards work at ATMs that display your card's logo — Visa, Mastercard, American Express, or Discover. You insert the card, enter your PIN, and withdraw cash just as you would with a debit card. The difference is what happens after: the transaction is treated as a cash advance, not a purchase, which means higher fees and interest rates that begin accruing the same day.
The cash advance limit is often lower than your credit limit. If your credit limit is $5,000, your cash advance limit might be $1,500 or $2,000. Your card issuer sets this separately, and you can find it in your cardholder agreement or by calling the number on the back of your card.
Key Takeaways
- ATM cash advances charge an upfront fee (typically 3 to 5 percent of the amount withdrawn) plus a higher interest rate than regular purchases.
- Interest on cash advances starts accruing immediately — there is no grace period like there often is for purchases.
- Your cash advance limit is usually lower than your total credit limit and is set by your card issuer.
- Fees and interest rates vary by card and issuer, so checking your cardholder agreement before withdrawing is worth the time.
What fees and interest rates you will pay
Every credit card issuer sets its own cash advance fee and interest rate. The fee is usually a percentage of the amount withdrawn — commonly 3 to 5 percent — with a minimum dollar amount (often $3 to $5). So withdrawing $100 might cost $3 to $5 in fees alone, while withdrawing $500 might cost $15 to $25.
The interest rate on cash advances is typically higher than the rate on purchases. If your purchase APR is 18 percent, your cash advance APR might be 25 percent or higher. Unlike purchases, which often have a grace period (usually 21 to 25 days before interest kicks in), cash advances begin charging interest the day you withdraw the money. There is no grace period.
To find your card's specific rates and fees, check the Schumer Box — a table required by law on every credit card disclosure document. You can find it in your cardholder agreement, on your issuer's website, or by calling customer service.
Where you can and cannot withdraw cash
You can withdraw cash at ATMs that display your card's network logo. Visa cards work at Visa-branded ATMs, Mastercard at Mastercard ATMs, and so on. Most major bank ATM networks accept cards from other banks, though some charge a surcharge (typically $2 to $3) on top of the cash advance fee your card issuer charges.
International ATMs also accept credit cards, but they often charge additional fees. Some issuers charge a foreign transaction fee (1 to 3 percent) on top of the cash advance fee. If you are traveling, check your cardholder agreement or call your issuer before withdrawing cash abroad.
ATMs at your own bank or credit union usually do not charge a surcharge, but the cash advance fee from your card issuer still applies. Some banks and credit unions offer fee-free cash advances to members of other institutions in their network — for example, Alliant Credit Union members can withdraw cash fee-free at many other credit unions — so it is worth checking if your institution has such an agreement.
How to find your PIN and set one up if you do not have one
If you have never used your credit card at an ATM, you may not have a PIN. Most card issuers require you to set one up before your first withdrawal. You can usually set a PIN online through your card issuer's website or mobile app, or by calling the number on the back of your card. The process takes a few minutes and the PIN is active immediately or within 24 hours, depending on your issuer.
If you have forgotten your PIN, you can reset it the same way — through your online account or by calling customer service. Some issuers will mail you a new PIN, which takes 7 to 10 business days, so resetting it online is faster if that option is available.
When a cash advance makes sense and when it does not
A cash advance should be a last resort. The fees and interest are steep, and the interest starts immediately. If you need cash for an emergency and have no other option, a cash advance is faster than a personal loan or payday loan. But if you can wait a few days, transferring money from a savings account or asking a friend or family member is cheaper.
A cash advance also makes sense if you are earning rewards on your credit card and the rewards rate is high enough to offset the fees — though this is rare. If your card offers 5 percent cash back on all purchases and you withdraw $100, you pay $3 to $5 in fees but earn $5 in rewards, breaking roughly even on fees alone. However, the interest that accrues will quickly erase any rewards benefit, so this only works if you can pay back the full amount within a few days.
For everyday cash needs, a debit card or ATM card linked to a checking account is almost always cheaper. Debit card withdrawals have no interest and usually no fee at your own bank's ATM.
How to pay back a cash advance quickly
The faster you pay back a cash advance, the less interest you pay. Interest accrues daily, so even a few days of delay costs money. Make a payment as soon as possible after withdrawing the cash.
When you make a payment to your credit card, the issuer applies it to your balance in a specific order set by law. Payments go first to the balance with the highest interest rate — usually the cash advance — so your payment will reduce the cash advance balance before it reduces any purchase balance. This works in your favor if you are trying to pay off the cash advance quickly.
If you have multiple cash advances on the same card, payments are applied to the oldest one first. Check your statement to confirm how your payment was applied.
Alternatives to ATM cash advances
If you need cash but want to avoid the fees and interest of a cash advance, consider these options: withdraw cash back at a grocery store or retail store when you make a purchase with a debit card (free at most stores); transfer money from a savings account to a checking account and use your debit card; ask your bank or credit union for a short-term personal loan (usually cheaper than a cash advance); or use a peer-to-peer payment app like Venmo or PayPal to send money to someone who can give you cash.
If you are in a true emergency and need cash immediately, a cash advance is faster than most of these alternatives. But if you have even a day or two, one of these options will cost you less.
Frequently Asked Questions
Can I use my credit card at any ATM?
You can use your credit card at ATMs that display your card's network logo (Visa, Mastercard, American Express, or Discover). Most major bank ATM networks accept cards from other banks, though some charge a surcharge. ATMs at your own bank or credit union usually do not charge a surcharge, but your card issuer's cash advance fee still applies.
What happens if I do not pay back a cash advance?
If you do not pay back a cash advance, interest continues to accrue at your card's cash advance APR (usually higher than the purchase rate). The balance will grow each month, and if you miss payments, your credit score will drop and you may face late fees. The debt can also be reported to collection agencies if it goes unpaid long enough.
Is there a limit to how much cash I can withdraw?
Yes. Your card issuer sets a cash advance limit, which is usually lower than your total credit limit. You can find this limit in your cardholder agreement or by calling the number on the back of your card. Some ATMs also have daily withdrawal limits, which may be lower than your card's cash advance limit.
Do I earn rewards or cash back on a cash advance?
Most credit cards do not earn rewards on cash advances. Even if your card offers cash back on purchases, cash advances are usually excluded. Check your cardholder agreement to confirm, but assume you will not earn rewards on a cash advance.
Can I use my credit card to withdraw cash from a bank teller instead of an ATM?
Yes. You can go to a bank branch and ask a teller to withdraw cash using your credit card. The fees and interest are the same as an ATM withdrawal — it is still treated as a cash advance. Some banks may charge an additional fee for teller-assisted withdrawals, so ask before you proceed.