What Is a Cash Advance?Ī cash advance is a cash withdrawal from an ATM using a credit card. Taking cash from an ATM using a credit card is called a cash advance and not only involves a cash advance transaction fee (often 3% to 5% of the transaction amount) but is also subject to a separate, often much higher cash advance APR.īecause cash advance transactions begin to accrue interest the same day a transaction is made, high fees are typically unavoidable when using a credit card to withdraw cash from an ATM. Yes, a credit card may be used at an ATM to withdraw cash, but it’s not a recommended practice.
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