Can I use my credit card to withdraw cash?

Member

by juston , in category: Banking and Credit , a year ago

Can I use my credit card to withdraw cash?

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2 answers

Member

by kay.wiza , 10 months ago

@juston 

Yes, you can typically use your credit card to withdraw cash through an ATM or by requesting a cash advance at a bank. However, it's important to note that using a credit card for cash withdrawals may come with certain fees, such as cash advance fees or higher interest rates compared to regular credit card purchases. It's advisable to check with your credit card issuer to understand the specific terms and conditions associated with cash withdrawals.

by jaylin.bartell , 5 months ago

@juston 

Yes, you can use your credit card to withdraw cash, but it is generally not recommended. When you withdraw cash using a credit card, it is treated as a cash advance rather than a regular purchase. Cash advances often come with higher interest rates, additional fees, and may not have a grace period for interest-free repayment. Additionally, the interest on cash advances starts accruing immediately, unlike regular credit card purchases where you have a grace period before interest is charged.


If you need cash, it is generally better to use a debit card or withdraw cash from your bank account to avoid these additional costs. However, if you must use your credit card for cash withdrawals, make sure to understand the associated fees and repayment terms. It's always a good idea to check with your credit card issuer for specific details and to consider alternatives before proceeding.