Anonymous
Anonymous asked in Business & FinanceCredit · 1 month ago

How much cash can you draw out of a credit card?

9 Answers

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  • Kelly
    Lv 7
    1 month ago
    Favorite Answer

    Each card is different, it may be $0.00 and could be $10,000+.  It depends first if the card offers it and also any daily limit there might be.

    You have to request a pin from the creditor and not all of them allow cash advances.  They also charge fees on top of what the ATM does.  Their fee is usually a percentage or a flat fee of whichever one is higher.  I have a card that charges $10 for a cash advance fee but I don't use it.

    Also, whatever the fees are you'll also pay interest on that when the bill comes.

  • L
    Lv 5
    4 weeks ago

    Zero.  You can only get a Cash when you use a Debit Card.  Example; buy groceries and push the button for $20 - $100 over.  

  • Anonymous
    4 weeks ago

    Do not do it. a cash advance can cost you 30 percent in interest.

  • RICK
    Lv 7
    4 weeks ago

    Each card is different

    Most are a percentage of your available limit

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  • Scott
    Lv 7
    1 month ago

    The amount is determined by the cash advance limit of your card. Cash advances carry a much higher interest rate than credit purchases do.

  • Anonymous
    1 month ago

    none - it is just a piece of plastic

  • Anonymous
    1 month ago

    Depends on the card. My discover and fidelity cards do not mention a cash advance credit line. My BOA does. Its 30% of my total limit.  Seems like one of my lesser used cards, either amex or capital one does too?  I took a large cash advance one time when I was young for my business. Back then, there were no cash advance fees. Sears owned discover. I walked in sears and walked out with I think a $12,000 check.  That had to have been over 30 years ago.  I paid it back as soon as I could. Some in a few weeks, more in a few more and the rest after 10 weeks. Swore I would never do that again. I think it was around 20%. (rates were lots higher back then)

    Now with everyone charging 2-3% fees, its an even worse deal.

    I called my bank prior to doing that and they said sure, they were 99% sure they would approve me but the rate was going to be roughly the same as discover charged so I went to sears instead. 

  • Anonymous
    1 month ago

    Not sure, but they charge exorbitant interest rates on cash advances, it's not a wise thing to do. You'll need to go to the website of your card and look up about cash advances or call them. 

  • Rick B
    Lv 7
    1 month ago

    That depends on your credit card.  I would not take a cash advance on a credit card - the fees and interest are too high.  

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