Christie Matherne, Credit Card Writer
@christie_matherne
The American Express cash advance limit is equal to a portion of your overall credit limit, and you can find more details on your monthly statement or by calling American Express customer service. You'll also need to contact customer service to get a PIN if you're getting a cash advance at an ATM.
Key Things to Know About American Express Cash Advances
- American Express charges fees and separate interest rates for cash advances. American Express charges a fee of 5% (min $10) and an interest rate of 28.99% (V).
- There’s no grace period for American Express cash advances. The amount of cash you withdraw will start to accumulate interest right away, with no grace period.
- ATM fees and limits are possible. Out-of-network ATMs can get expensive. ATM owners typically charge a fee of around $2 - $5, and banks often charge their customers another $1 - $2 fee for using out-of-network ATMs on top of that. Different ATMs may have their own cash withdrawal limits, as well.
Due to their extremely high cost, cash advances should only be used for emergencies. To learn more, check out WalletHub’s guide to credit card cash advances.
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John Miller, Credit Cards Moderator
@john_miller
The cash advance limit for an American Express credit card is a percentage of your credit limit. The exact amount will be decided upon approval and it will be based on your creditworthiness. If you’re already an existing American Express cardholder, your cash advance limit should be listed on your monthly statement or card agreement. You can also log in to your online account to check your card’s withdrawal limit.
It's important to mention that American Express cash advances can be very expensive, due to a cash advance fee and APR that apply from the moment of transaction. So, make sure that you exhaust all other options before turning to a cash advance.
People also ask
What is a credit card cash advance limit?
A credit card cash advance limit is the maximum amount you can withdraw from the card’s full credit line as a cash advance. Cash advance limits often range from around 5% to 30% of your credit card limit, according to online reports, though the percentage can vary based on the card issuer.
The cash advance limit is also called cash credit line or cash access line, depending on the card issuer. They all refer to the...
read full answer by WalletHub, Financial CompanyHow much is the American Express cash advance fee?
The American Express cash advance fee is 5% (min $10) per transaction, whichever is higher. A cash advance fee is a fee charged when using an American Express credit card for cash withdrawals at an ATM.
Bear in mind that when you do a cash advance, you will incur other costs in addition to the American Express cash advance fee. There’s also an expensive cash advance APR that applies immediately after you complete the transaction. The...
read full answer by Lisa Cahill, Credit Cards ModeratorHow can I get an American Express card cash advance?
To get an American Express cash advance, use an American Express credit card and a corresponding PIN at a participating ATM and withdraw the cash, up to the card’s available cash advance limit. If you do not have a PIN, contact American Express customer service at 1 (800) 528-4800 to request one.
How to Get an American Express Cash Advance at an ATM
- Call American Express customer service at 1 (800) 528-4800 and request a PIN, if you...
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