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How to get a Chase credit card cash advance
Use your Chase card to get cash, but at a high cost.
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.
How to get a Chase cash advance
You’ll first need a Chase credit card. After that, here’s what to do:
- Call 800-297-4970 and request a PIN if you don’t have one.
- Go to participating ATMs.
- Enter the amount you wish to withdraw.
What purchases does Chase consider as a cash advance?
Chase considers the following credit card transactions to be cash advances:
- ATM cash withdrawals
- Cash withdrawals from a bank teller
- Casino gaming chips
- Foreign currency
- Lottery tickets
- Money orders
- Paying with certain third-party services
- Race track wagers
- Travelers’ checks
- Wire transfers fee
Chase cash advance fees
Chase comes with one of the highest cash advance fees and interest rates. Depending on your card, you will pay:
- A 5% fee of the amount with a $10 minimum.
- A 3% fee of the amount with a $10 minimum, with the Disney credit cards.
- The average cash advance APR is 25.99% but it could vary between cards.
Let’s break down how much a $500 cash advance might cost if you made a withdrawal from a non-Chase ATM.
|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)|
Be careful of cash advance costs
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.
Chase credit card offers
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.
Cash advance alternatives
Before incurring the high costs of a cash advance, consider other options to alleviate financial pressure. These include:
- Pay advance apps.
You can get an advance of up to 50% of your earned income through a pay advance app. Consider this option if your paycheck will be arriving soon but you need a bit of cash to support you in the meantime.
- Negotiate with your creditors.
If your upcoming bills are putting a strain on your finances, consider contacting your creditors. Explain that you’re having trouble with payments and ask if they can offer you any alternative options. They might, for example, set up repayment plans or extend your due dates.
- 0% APR credit card.
If money’s a little tight right now but you have a good credit score, a low-interest card could be an option. If it has a 0% APR on purchases, you can use it for essential spending and pay off your debt over time. For balance transfers, watch out for fees. Consider a no-fee 0% APR balance transfer card.
- Borrowing from friends and family.
A friend or family member might be more than willing to help, especially if you need to borrow a relatively small dollar amount.
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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