How can I get an American Express Blue Cash Preferred cash advance?

You can get an American Express cash advance at participating ATMs, up to the card's available cash advance limit. To start, call American Express customer service at (800) 227-4669 to request a cash advance PIN. Once you have your PIN, simply insert the card into a participating ATM, type in your PIN, and select “Cash Advance.” Then enter the amount of cash you want to withdraw.… read full answer

There may be other ways to get a cash advance from your American Express card, as well. For instance, you could write out an American Express cash advance check and use it like a regular bank check.

It’s important to take fees and interest into account before you get an Amex cash advance. The American Express cash advance fee will likely be 5% (min $10) of the transaction, whichever is greater. In addition to that, interest on the cash advance will begin accruing immediately, and it’s usually at least a 25% APR. There may also be ATM-owner fees, depending on where you withdraw money from. So, it's best to avoid cash advances.

Try looking into alternatives, such as borrowing money from friends and family or a personal loan. If you have good credit, getting a personal loan may be cheaper than taking out a cash advance.

The Blue Cash Preferred credit limit is based on American Express’s assessment of each application. So, the card’s credit limit will be different for each applicant. American Express does not include any specific Blue Cash Preferred credit limit information in the card’s terms.

For the most part, Blue Cash Preferred credit limits depend on each applicant’s overall creditworthiness. Those with the highest income and best credit scores will generally be offered the highest starting credit limits.… read full answer

What you should know about the Blue Cash Preferred credit limit:

Note that the Blue Cash Preferred card credit limit that you start with isn’t necessarily your credit line forever. You can ask to get a credit limit increase by calling the American Express customer service at (800) 528-4800. However, it’s best not to do that more than once a year.

American Express will also evaluate your account periodically to determine whether you are eligible for a credit limit increase. Paying on time and keeping your credit utilization low are key for getting unsolicited credit line increases with American Express.

The cash advance limit is the maximum amount of cash that can be withdrawn against a credit card's balance. With most credit cards this will be considerably lower than the credit limit itself. Cash advances come with high fees and above-average interest rates, that's why we advise against them.

Your credit limit tells you exactly how much money your credit card issuer will let you use. The available credit is the amount that you currently have available to spend. This is based on the credit limit minus the current balance less any pending transactions.… read full answer