What a Chase cash advance is and how it works

A cash advance on a Chase credit card lets you withdraw cash using your card's credit line instead of your debit account. You can do this at an ATM, at a bank teller window, or sometimes through a cash advance check that comes with your account. The money appears in your bank account or your hand within minutes to a few days, depending on the method you choose.

The catch is that cash advances are expensive. Chase charges an upfront fee (usually 3% to 5% of the amount you withdraw, with a minimum fee), and the interest rate on the cash advance is typically higher than the rate on regular purchases. Interest starts accruing immediately — there is no grace period like there is for regular credit card charges. This means a $500 cash advance can cost you $15 to $25 just to take it out, plus interest from day one.

You should only use a cash advance if you have no other option and you plan to pay it back quickly. If you need cash for an emergency and have no access to your savings or a personal loan, a cash advance might be the fastest way to get it. But if you can wait a few days or use a different method, you will save money by doing so.

Key Takeaways

  • Chase cash advances charge an upfront fee of 3% to 5% plus a higher interest rate than regular purchases, with interest starting immediately.
  • You can withdraw cash at any ATM using your Chase card, at a Chase bank teller, or by requesting a cash advance check from your account.
  • Your cash advance limit is usually lower than your total credit limit and is set by Chase based on your credit history and account status.
  • Paying off the cash advance should be your priority because the interest rate is significantly higher than the rate on regular purchases.

How to withdraw a cash advance at an ATM

The simplest way to get a cash advance is to use your Chase credit card at any ATM that accepts Visa or Mastercard (depending on which Chase card you have). Insert your card, select "cash advance" or "credit" from the menu, enter your PIN, and choose the amount. The ATM will show you the fee before you confirm, so you can see the cost upfront.

If you do not know your PIN, you can set one through the Chase mobile app or by calling Chase customer service at the number on the back of your card. You will need to verify your identity, and Chase will send you a temporary PIN or let you create one immediately. This takes a few minutes and can be done before you go to the ATM.

Not all ATMs have the same daily withdrawal limit. Chase typically allows cash advances up to your daily ATM limit, which is often $500 to $1,000 per day depending on your account. If you need more than your daily limit, you can make multiple withdrawals on different days, or you can use one of the other methods below.

Getting cash at a Chase bank branch

You can also walk into any Chase bank branch and ask a teller for a cash advance. Bring your credit card and a form of ID. The teller will process the transaction, charge the fee, and give you the cash on the spot. This method works the same day and does not have a daily limit like ATM withdrawals do, so if you need a large amount, this is faster than using an ATM multiple times.

Chase branches are open during regular business hours, usually 9 a.m. to 5 p.m. on weekdays and shorter hours on Saturday. If you need cash outside these hours, an ATM is your only option. You can find the nearest Chase branch and its hours on the Chase website or in the mobile app.

Cash advance checks and other methods

Chase sometimes sends cash advance checks with your credit card statement or as a separate mailing. These checks are drawn on your credit line, not your bank account. You can deposit them into your bank account or cash them at a bank or check-cashing service. The fee and interest rate are the same as an ATM or teller cash advance.

Cash advance checks are convenient if you need to move money into your bank account rather than carrying cash, but they take longer than an ATM withdrawal because you have to deposit or cash them. Some banks process deposits the same day; others take one to two business days. If you receive these checks, read the terms carefully because some have different fees or rates than standard cash advances.

A few Chase cards also offer balance transfers, which let you move a balance from another card to your Chase card at a lower rate. This is not the same as a cash advance and is usually cheaper if you are trying to consolidate debt. Ask Chase customer service whether your card offers this option.

Understanding your cash advance limit and fees

Chase sets a separate cash advance limit for each account, which is usually lower than your total credit limit. For example, you might have a $5,000 credit limit but only a $1,500 cash advance limit. You can see your cash advance limit in the Chase mobile app or by logging into your online account under "Credit Details" or "Account Summary."

The fee structure varies slightly by card type. Most Chase cards charge 3% to 5% of the amount withdrawn, with a minimum fee of $10. So a $200 cash advance would cost at least $10, and a $1,000 advance would cost $30 to $50. The interest rate is typically 2% to 5% higher than your regular purchase APR and starts accruing the day you withdraw the cash.

If you want to know your exact fee and interest rate before you take the advance, call the number on the back of your card or check your cardholder agreement, which is available in your online account or by mail. The agreement lists the cash advance APR and fee percentage for your specific card.

How to pay back a cash advance quickly

Because the interest rate is high, paying off a cash advance should be your first priority after you use it. When you make a payment to your Chase card, the payment goes toward your lowest-interest debt first — usually regular purchases — before it touches the cash advance. This means you can pay $200 toward your card and still owe the full cash advance amount plus interest.

To pay off the cash advance faster, contact Chase and ask them to apply your payment directly to the cash advance balance. Some cards let you do this through the mobile app by selecting which balance to pay. If you cannot do it through the app, call the number on the back of your card and tell the representative you want your payment applied to the cash advance.

The longer you carry a cash advance, the more interest you pay. A $500 cash advance at 25% APR costs about $10 per month in interest alone. If you can pay it back within a week or two, you will save significantly. If you cannot pay it back within a month, a personal loan or asking for help from family might be cheaper options.

When a cash advance makes sense and when it does not

A cash advance makes sense only in specific situations. If you have an emergency that requires cash — a car repair, a medical bill, or a deposit — and you have no other way to get the money, a cash advance is faster than a personal loan or a payday loan. It is also safer than a payday loan because the interest rate, while high, is usually lower and more transparent.

A cash advance does not make sense if you have other options. If you can use your debit card, transfer money from savings, borrow from family, or wait a few days for a personal loan, those are all cheaper. If you are considering a cash advance to pay another bill or credit card, stop and talk to a credit counselor first — that pattern often leads to deeper debt.

If you are in a situation where you regularly need cash advances, that is a sign that your income and expenses are not balanced. A non-profit credit counselor can help you build a budget and find resources. You can find a counselor through the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association (FCA), both of which offer free or low-cost sessions.

Frequently Asked Questions

Can I get a cash advance if my credit is bad?

If you already have a Chase credit card, you can get a cash advance up to your cash advance limit regardless of your credit score. Chase has already decided to give you credit. However, if you do not have a Chase card yet, a bad credit score makes it harder to open one. If you have a card but your account is in default or closed, Chase will not allow cash advances.

What is the difference between a cash advance and a balance transfer?

A cash advance gives you physical cash or deposits money into your bank account. A balance transfer moves debt from another card to your Chase card. Balance transfers usually have a lower fee and interest rate than cash advances and are meant for consolidating existing debt, not for getting cash.

Does a cash advance hurt my credit score?

A cash advance itself does not hurt your score, but it does increase your credit utilization (the percentage of your credit limit you are using), which can lower your score slightly. Paying it back quickly will bring your utilization back down. Missing payments on a cash advance will hurt your score significantly.

Can I use a cash advance to pay another credit card?

Technically yes, but it is a bad idea. You are paying a 3% to 5% fee plus a high interest rate to move money from one card to another. If you are trying to pay off another card, a balance transfer or a personal loan is cheaper. If you are in a cycle of moving debt between cards, talk to a credit counselor.

What happens if I cannot pay back the cash advance?

If you miss a payment, Chase will charge late fees and report the missed payment to the credit bureaus, which will lower your credit score. The interest will keep accruing, and your debt will grow. If the account goes unpaid for several months, Chase may close the account and send it to a collection agency. Contact Chase immediately if you cannot make a payment — they may be able to work out a plan with you.