How to Get Cash From a Credit Card

6 Min Read | Published: March 5, 2024

Woman is using ATM outside in the street in daytime

This article contains general information and is not intended to provide information that is specific to American Express products and services. Similar products and services offered by different companies will have different features and you should always read about product details before acquiring any financial product.

Wondering how to get cash from a credit card? Learn how to use a credit card in an ATM, along with some important considerations you’ll want to keep in mind.

At-A-Glance

Getting cash out of an ATM with a credit card is similar to a debit card but involves borrowing money instead of withdrawing from a bank account.
While getting cash from a credit card offers convenience, you’ll want to assess the pros and cons carefully before you do so.
Credit card cash withdrawals typically come with upfront fees and higher interest rates as well.

Sometimes, you might need to access cash in a pinch, but may not always be able to use your debit card. If this happens, you may be tempted to use your credit card in an ATM to get some cash. This is known as a cash advance and can offer a great deal of convenience, but there are a few things you’ll want to keep in mind before you hit up that ATM.

This article will explain how to withdraw cash with a credit card and detail a few considerations you’ll want to keep in mind before getting cash with your card.

How Does Getting Cash Out Work?

Taking cash out of an ATM with a credit card a straightforward process and in many ways, is similar to using a debit card.

However, instead of drawing money from a checking account, you’re accessing credit. Just like those purchases that you’ve made with your credit card, the cash that you withdraw will need to be paid back, along with interest and relevant fees.

How to Get Cash Out of an ATM

Getting cash out of an ATM with a credit card is a straightforward process.

Here is how to do it:

Locate a compatible ATM
Find an ATM that accepts your credit card. Look for stickers on the ATM indicating which credit card networks the ATM accepts. You can also visit your card issuer’s site or mobile app to find compatible ATMs near you.
Insert your credit card
Locate the ATM’s card slot and insert your card. The ATM will have a diagram indicating which direction your card must face when inserted to work correctly. Once inserted, the ATM will hold your card for the rest of the transaction.
Enter your PIN
Enter your credit card’s PIN when the ATM prompts you to if your card has one. Shield the keypad with your hand to protect your privacy and security. You do not need a PIN to use your card, but it helps to protect you in case your card is lost or stolen.
Choose the withdrawal option
The ATM will present you with a few transaction options. Select the withdrawal option to start the transaction. The ATM may label the withdrawal option “cash advance” when using a credit card.
Select the credit option
Some ATMs may ask you to choose between a checking, credit, or debit transaction. Select the credit option.
Enter your withdrawal amount
Enter the amount of cash you’d like to take out. ATMs may only let you take out cash in increments, such as $20. Furthermore, ATMs may limit how much you can withdraw per transaction and per day.
Accept any transaction fees
Taking out cash with a credit card often involves a fee, so it’ll show you a prompt asking you to confirm if you’re okay with paying that fee. Acknowledge that you accept this fee.
Wait for cash to dispense
The ATM will process your request and dispense cash. This can take a few seconds, so stand by the ATM and shield the screen and the tray where the ATM dispenses cash.
Acknowledge and complete the transaction
The ATM will confirm that the transaction is completed and ask if you want to make any other transactions. Decline to finish your transaction. The ATM will release your card and give you a receipt. Don’t forget to retrieve your cash, card, and receipt before leaving.

This whole process can take no longer than a minute or two to complete.

Things to Consider Before Getting Cash Out

Taking cash out with a credit card could help if you need cash quickly. However, there are several things to keep in mind before you do so:

Higher Interest Rates: Credit card cash withdrawals often have higher interest rates than everyday transactions.¹ Plus, interest typically starts to accrue immediately instead of starting at the end of a grace period.
Fees: Credit cards charge a fee up front for withdrawing cash. A common structure is the greater of 5% of the transaction or $10. However, issuers differ in their fee structure. Additionally, ATMs may charge different processing fees depending on the ATM network.
Credit Score Impact: It’s best to pay off the cash advance right away. If the balance goes unpaid for a while, it could impact your credit score.
ATM compatibility: Some ATMs don’t accept certain credit cards. You’ll want to check ahead of time to see which ATMs take your card.
Whether your card allows cash advances: You’ll also want to check your credit card to make sure it allows cash advances before you attempt to get cash out. Be sure to check your credit limit as well.

Beware of Cash Advance Scams

Additionally, beware of online cash advance scams. These scams may offer attractive terms, such as low interest rates, to lure you in. However, they are designed to charge you excessive fees and may even steal your card information.

Here are some red flags to watch out for:

Phishing: Be wary of emails or other messages asking for sensitive card or financial info claiming to be from your bank or issuer. Banks don’t ask for this information via email.
Unsecured sites: Look for “https” in the URL with a padlock icon. The website is not secured if it lacks these.
Unsolicited calls and texts: Scammers may try to contact you via phone or text. Avoid engaging with any contact unless you initiate it.
Offers that are too good to be true: Scams often use low rates, easy verification, and no upfront fees to attract people. If it sounds too good to be true, it probably is.

You can report scams to the Federal Trade Commission (FTC)² as well as the relevant authorities in your state, such as the state’s attorney general or state auditor.

Frequently Asked Questions

You may not be able to get cash from an ATM without a PIN. However, you could do so without a PIN at a bank branch. You must provide the teller with your card and a government-issued ID and then pay any fees.

Some issuers may let you transfer money from your credit card to your bank account. This is called a direct deposit cash advance. Banks may let you initiate a direct deposit cash advance online or over the phone. Like ATM withdrawals, you may incur fees and higher interest rates for doing so.

The Takeaway

Using your credit card to get cash could offer a quick and convenient solution, but it’s important to be cautious. Withdrawing cash with a credit card may come with extra fees and higher interest rates, so be sure to assess the pros and cons carefully.

¹ “How Interest Works on a Credit Card Cash Advance,” Investopedia

² “ReportFraud.ftc.org,” Federal Trade Commission

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Bradley Schnitzer is a writer and email strategist who has covered personal finance and small business topics for over five years. He is passionate about personal finance and helping others understand their money.

All Credit Intel content is written by freelance authors and commissioned and paid for by American Express.

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