Best cash advance credit cards

An important feature of a credit card is that it allows you to withdraw cash from ATMs or credit card readers in the form of cash advances. These transactions are known to attract a higher interest rate and a cash advance fee, but there is a selection of credit cards that charge competitive interest rates for cash advances.

Here, we’ll explain how they work, compare low cash advance rate credit cards and share what else you need to know before choosing and using a credit card for cash advances.

Our pick for a cash advance credit card

OpenSky® Secured Visa® Credit Card

• Build your credit with our monthly reporting to all three credit bureaus
• Control your finances, start with a security deposit and credit line as low as $200
• Apply in less than 5 minutes, no credit check necessary
• Avoid paying interest, no interest charged on new purchases if the balance is paid in full by the due date each month
• Extra credit when you need it, increase your credit line up to $5000*
• *subject to approval
• Easy funding options, with four ways to fund and no checking account needed

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Compare cash advance credit cards

Most credit cards come with a cash advance fee of between 3% and 5%. But there are some credit union cards that have a 0% fee on cash advances.

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Name	Product	Filter values	Cash advance rate	Cash advance fee	Recommended minimum credit score
OpenSky® Secured Visa® Credit Card			18.89% variable	$6 or 5% of the cash advance amount, whichever is greater	300	A secured Visa® credit card that helps you build your credit quickly.	Apply now View details	Compare	loading Fetching your data...
UNITY Visa® Secured Credit Card			17.99% fixed	$10 or 3% of the cash advance amount, whichever is greater	300	An intro APR on balance transfers is rare for a secured card. Lower fees and interest than similar cards make this a good credit building option.	Apply now View details	Compare	loading Fetching your data...
CardMatch™ from creditcards.com					300	Use the CardMatch tool to find cards you're likely to qualify for with your credit score, without a hard pull on your credit.	See offer View details	Compare	loading Fetching your data...
Citi Simplicity® Card			25.24% variable	$10 or 5% of the cash advance amount, whichever is greater	670	With an intro APR of 21 months, this card has one of the longest balance transfer offers on the market. Plus, no late fees and no annual fee.	Apply now View details	Compare	loading Fetching your data...
Green Dot primor® Mastercard® Classic Secured Credit Card			18.99% fixed	$5 or 5% of the cash advance amount, whichever is greater	300	Designed for those with little or poor credit, the Green Dot primor® Mastercard® Classic Secured Credit Card has no minimum credit score requirements and no processing or application fees to worry about.	Apply now View details	Compare	loading Fetching your data...
Green Dot primor® Mastercard® Gold Secured Credit Card			18.99% fixed	$5 or 5% of the cash advance amount, whichever is greater	300	Low fixed interest rates with no penalty rate.	Apply now View details	Compare	loading Fetching your data...
Green Dot primor® Visa® Gold Secured Credit Card			18.99% fixed	$5 or 5% of the cash advance amount, whichever is greater	300	Fast, easy application process with no processing or application fees.	Apply now View details	Compare	loading Fetching your data...
Green Dot primor® Visa® Classic Secured Credit Card			18.99% fixed	$5 or 5% of the cash advance amount, whichever is greater	300	Open a personal savings deposit account to secure a credit line from $200 to $5,000.	Apply now View details	Compare	loading Fetching your data...
Capital One® Secured Mastercard®			26.99% variable	$10 or 3% of the cash advance amount, whichever is greater	580	Get access to a higher credit line after making your first 5 monthly payments on time.	See offer View details	Compare	loading Fetching your data...
Capital One® QuicksilverOne® Cash Rewards Credit Card			26.99% variable	$10 or 3% of the cash advance amount, whichever is greater	580	Get unlimited 1.5% cash back on every purchase with no limit on how much you can earn, and no changing categories.	See offer View details	Compare	loading Fetching your data...

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Best cash advance credit cards

Best for interest-free period on cash advances: RBFCU CashBack Rewards Mastercard®

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The RBFCU CashBack Rewards Mastercard® is one of the rare cards that offer a long intro APR period on cash advances and balance transfers and a low ongoing APR after that.

• Cash advance intro APR period.
  Enjoy 0% intro APR for cash advances during your first 12 billing cycles. After that, a variable APR of 11.65% to 18% applies.
• Cash back.
  Earn unlimited 2% cash back on all purchases you make.
• No fees.
  You won’t pay an annual fee or fees on foreign transactions, balance transfers and cash advances.

Best for low fixed APR: ECU Platinum Preferred Visa® Credit Card

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The ECU Platinum Preferred Visa® Credit Card is a rewards card with low fixed APR on cash advances, purchases and balance transfers. It also comes without some of the most common fees, including the annual fee and cash advance fee.

• Low APR.
  You get one of the lowest interest rates on cash advances, balance transfers and purchases of 9.9% fixed.
• Reward points.
  With each purchase you make, you earn 1x points.
• No fees.
  Save money without paying annual fee or fees for balance transfers and cash advances.

Best for gas rewards: PenFed Platinum Rewards Visa Signature® Card

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If you’re looking for low APR on cash advances, no cash advance fees and to earn rewards on your purchases, then the PenFed Platinum Rewards Visa Signature® Card should definitely be on your radar.

• Low interest rates.
  Depending on your creditworthiness, you can get an APR of 11.74% to 17.99% variable. This applies to purchases, balance transfers and cash advances.
• Rewards points.
  Earn 5x points on gas purchases when you pay at the pump and 3x points at supermarkets. All other purchases earn 1x points.
• Intro APR on balance transfers.
  You can consolidate your debt with this card as you get 12 months of 0% intro APR period on balance transfers made by March 31, 2020. After that, a variable APR of 11.74% to 17.99% applies.

Best secured card for cash advances: SDFCU Savings Secured Visa Platinum Card

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If you have poor credit or no credit history and you need a card for cash advances, the SDFCU Savings Secured Visa Platinum Card could be an option worth considering. You get ongoing low interest rates and you get to earn points on all purchases.

• Secured card.
  To use the card you must make a secured deposit as low as $250. Your deposit then acts as your credit limit.
• Low interest rates.
  This card comes with a variable 13.49% APR on cash advances, purchases and balance transfers.
• Rewards points.
  Earn 1x points on all purchases. A secured card with a reward program is rare.

How to compare low cash advance credit cards

Not all low cash advance rate credit cards are the same, so when you consider applying for one, take some time to compare the following aspects:

• Interest rates. The standard variable cash advance rate may not be the same as the purchase rate, so it’s important to look at both.
• Cash advance fee. This fee is charged every time you make a cash advance transaction and is usually a fixed dollar amount or percentage. For example, “$10 or 5% of the transaction, whichever is greater”.
• Annual fee. Weigh the features of the card and consider whether they’ll offset the annual fee so you can choose a product that’s affordable for you.
• International transaction fee. Most credit cards charge a fee of usually 3% for transactions made in a foreign currency — make sure you also consider this fee and how it could impact the overall cost of a cash advance.
• Introductory offers. A range of credit cards offer signup bonuses and introductory 0% interest rates for purchases or balance transfers. It’s important to note that these benefits usually don’t apply to cash advance transactions, so read the terms and conditions.

What else should I keep in mind?

If you end up getting a cash advance using your credit card, consider the following:

• Budget for repayments. The longer you carry a balance on your credit card, the more interest you will pay. Factoring repayments into your budget, or using savings to clear the balance, can help keep these costs to a minimum.
• Make a payment as soon as possible. Each day you carry a balance from a cash advance, interest is calculated daily. By making payments before your statement is due, you can reduce the overall cost of a cash advance.
• Overseas fees for cash advances. If you use your credit card to get cash out while traveling overseas, you could also have to pay ATM fees and international transaction fees.
• Rewards. If your credit card comes linked to a rewards program, any cash advances you make won’t be eligible for rewards.

What to know about low cash advance rate cards

How do low cash advance credit cards work?

They are just like regular credit cards except they offer a competitive interest rate on cash advances — many of these cards actually charge the same interest rate for both purchases and cash advance transactions.

These transactions also won’t be eligible for any interest-free days your card may offer for standard purchases, which means interest will accrue from the time the transaction is made until it is paid off in full.

What are the benefits of low cash advance rate cards?

They provide an affordable way to use your credit card for a cash advance transaction and can particularly useful if you need extra funds but can’t use your credit card to make a payment. For example, if you’re overseas or shopping somewhere that only accepts cash.

How do I apply for a low cash advance credit card?

Applying for a low cash advance rate card is simple and can be completed online in around 10-15 minutes. After comparing cards and choosing one that suits your needs, just click the “Go to site” button. Make sure you meet the eligibility for the card first, it may vary but it generally includes the following criteria:

• At least 18 years old.

• A resident of the US.
• A good credit rating.

Have the following documents and details ready to speed up the process:

• Full name, personal contact information and Social Security number.
• Housing status and monthly rent or mortgage payments.
• Employment status and gross annual income.

Can I get a cash advance online with bad credit?

Frequently asked questions

• Why do cash advances attract high interest rates?

  Unlike regular credit card purchases, cash advances give you access to actual money or an equivalent. In this sense, they are similar to more traditional loans but don’t require you to apply for more credit. This could suggest to a lender that a person is desperate for funds or needs cash to make a questionable purchase. As a result, most credit card providers view cash advances as “higher risk” transactions and apply higher interest rates and fees.

• Do I have to repay a cash advance within a given time period?

  You can continue making minimum monthly payments until you clear the balance completely, but by doing so you would end up paying a lot in interest. Ideally, you should aim to pay the balance off in full as quickly as possible to keep these costs to a minimum.

• What other options do I have to get money in a hurry?

  You can consider getting a secured or unsecured personal loan – both tend to charge lower interest rates when compared to credit cards. How quickly you get access to funds depends on the loan issuer.