Need cash in a pinch? You usually have two quick options: using a cash advance app or taking out a cash advance from your credit card. Both get you money fast, but they work in very different ways. This guide breaks down the pros, cons, costs and risks of each option so you can decide which fits your situation best.
Cash advance apps let you borrow a small amount from your upcoming paycheck. They don’t require a credit check and instead look at your income and spending patterns.
Some popular top cash advance apps include EarnIn, Current and Brigit. They usually deposit money directly into your bank account within one to three days for free or instantly for an extra fee.
How much you can borrow: Generally, $20 to $500, sometimes more — but you usually can’t borrow the maximum amount right away.
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A credit card cash advance lets you withdraw cash from your credit line, either from an ATM or a bank. Unlike purchases, cash advances start accruing interest right away. There’s no grace period.
Fees also stack up fast. Most credit card issuers charge a flat fee or a percentage of the amount you withdraw, plus high interest rates that are often above your purchase APR.
How much you can borrow: Up to your card’s cash advance limit, which is typically 20% to 30% of your total credit line.
Here’s a quick snapshot of how the two options stack up.
| Feature | Cash Advance Apps | Credit Card Cash Advances |
|---|---|---|
| Typical loan amount | $20 – $500, sometimes more | 20% – 30% of credit limit |
| Interest rate | None, but fees/tips may apply | 20% – 30% APR, starts immediately |
| Fees | $0 – $10+ for instant transfers, possibly subscription fee | 3% – 5% of amount withdrawn |
| Credit check | No | Yes (must have a credit card) |
| Speed of funding | Instant to 3 days | Same-day if ATM available |
| Repayment timeline | Next paycheck (1–4 weeks) | Flexible, but high interest adds up |
Most of the time, cash advance apps are cheaper than credit card cash advances, but the details matter.
In this example, we’re looking at a $200 instant cash advance. The app doesn’t have a subscription fee but charges a $2 instant transfer fee, while the credit card advance carries a 20% interest rate plus a 3% cash advance fee. Both are repaid in two weeks.
| Type of Advance | Fees | Interest (20% APR, daily compounding) | Total Cost (2 weeks) | Effective APR (approx.) |
|---|---|---|---|---|
| Cash advance app | $2 instant transfer fee | $0 interest | $2 total | ≈ 26% APR |
| Credit card cash advance | 3% advance fee ($6) | $1.54 interest | $7.54 total | ≈ 98% APR |
Borrowing $200 for two weeks costs just $2 with the cash advance app, but the same amount on a credit card cash advance jumps to $7.54, an effective APR of 98%, showing how much more expensive credit cards can be for short-term borrowing.
Cash Advance Apps
Credit Card Cash Advances
Your credit score matters, so here’s how these options affect it:
Getting money quickly is often the point, so speed matters.
For cash advance apps:
For credit card advances:
If you have a bit more time, you might avoid fees altogether.
Here’s a decision table to help you weigh the choice.
| If you need… | Better option |
|---|---|
| Small amount until payday | Cash advance app |
| Larger amount with flexibility | Credit card cash advance |
| No credit check | Cash advance app |
| Cheapest possible borrowing | Alternatives (loan/savings) |
Cash advance apps and credit card advances both put cash in your pocket fast, but they come with very different costs. Apps are usually cheaper and better for small, short-term needs, but typically need to be repaid by your next payday — though some apps offer more repayment flexibility.
Credit card advances may cover bigger gaps but can get expensive quickly. Before choosing either, compare the fees, repayment terms and your alternatives so you don’t pay more than you have to.
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