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Chase cardholders can easily get cash out of an ATM or a bank branch. This is a useful credit card feature, but an expensive one. Because of that, taking cash advances should be reserved in case you have no other options, or for emergencies.
You’ll first need a Chase credit card. After that, here’s what to do:
Chase considers the following credit card transactions to be cash advances:
Chase comes with one of the highest cash advance fees and interest rates. Depending on your card, you will pay:
Let’s break down how much a $500 cash advance might cost if you made a withdrawal from a non-Chase ATM.
| Amount | $500 |
| Cash advance fee | $25 |
| 30-day cash advance interest at 25.99% variable APR | $11 |
| ATM fee at non-Chase terminal | $3 |
| Total | $539 ($39 in fees and interest) |
As you can see from the chart above, cash advances can get expensive. Making one or two cash advances each year, may be worth it if there’s no other way to get cash. But a $500 cash advance each month may cost you $468 or more in fees alone. Because of that, consider whether a cash advance is essential and if you can cover the costs before going through with your transaction.
If you want more guidance, check out our guide on calculating cash advance costs.
Instead of getting a cash advance, you may want to consider a credit card with a higher credit limit. The Chase credit cards below may offer high credit limits, depending on your credit profile. But remember, you’ll always want to pay your credit line back in full before the due date to avoid interest charges.
Chase Freedom Unlimited®
Chase Freedom Flexâ„
Chase Sapphire Preferred® Card
Chase Slate Edgeâ„
Before incurring the high costs of a cash advance, consider other options to alleviate financial pressure. These include:
Chase credit card cash advances are expensive. You can save some money on cash advances with the two Disney cards, which come with a slightly lower cash advance fee.
But the difference is negligible. Because of that, avoid cash advances whenever possible.
Luckily, there are credit cards with lower fees and interest. Compare cash advance credit cards to find the best option for you.
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