WalletHub, Financial Company
@WalletHub
The best cash advance credit card is the PenFed Pathfinder® Rewards Visa Signature® Card because it has a $0 cash advance fee and a low cash advance APR (17.99%). All PenFed cards have 0% cash advance fees and fairly low cash advance APRs. But this is very uncommon for other issuers. Cash advance fees are typically 3%-5%, and cash advance interest rates are usually over 20%.
Best Cash Advance Credit Cards in 2023
- Overall: PenFed Pathfinder® Rewards Visa Signature® CardPenFed Pathfinder® Rewards Visa Signature® CardLearn MoreLearn Moreon issuer's website
Cash Advance Fee: $0
Cash Advance APR: 17.99%
Annual Fee: $95
Min. Credit Required: Good
- Cash Rewards on Purchases: Santander® Ultimate Cash Back® credit cardSantander® Ultimate Cash Back® credit cardLearn MoreLearn More
Cash Advance Fee: $0
Cash Advance APR: 30.41% (V)
Annual Fee: $0
Min. Credit Required: Good
- Flat Rewards Rate for Purchases: Star One Visa Signature Rewards CardStar One Visa Signature Rewards CardLearn MoreLearn More
Cash Advance Fee: $0
Cash Advance APR: 8.75%
Annual Fee: $0
Min. Credit Required: Excellent
- Gas Purchases: PenFed Platinum Rewards Visa Signature® CardPenFed Platinum Rewards Visa Signature® CardLearn MoreLearn Moreon issuer's website
Cash Advance Fee: 0%
Cash Advance APR: 17.99%
Annual Fee: $0
Min. Credit Required: Good
- Military Families: Navy Federal Credit Union Visa Signature® Flagship Rewards Credit CardNavy Federal Credit Union Visa Signature® Flagship Rewards Credit CardLearn MoreLearn More
Cash Advance Fee: $0.5
Cash Advance APR: 16.74% - 18% (V)
Annual Fee: $49
Min. Credit Required: Excellent
- Bad Credit: DCU Visa® Platinum Secured Credit CardDCU Visa® Platinum Secured Credit CardLearn MoreLearn More
Cash Advance Fee: 0%
Cash Advance APR: 16.25% (V)
Annual Fee: $0
Min. Credit Required: Bad
Unfortunately, no credit card offers free cash advances. All credit cards charge interest on cash advances, at least. And that interest always starts accruing the moment you take out the advance. But if you get a card with no fee and pay off the balance right after doing a cash advance, you shouldn’t have to deal with much in the way of extra costs.
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onetray, Member
@onetray
There aren't any good credit cards for cash advances and you should avoid cash advances with credit cards at all costs. They're really expensive. Interest starts building up immediately at high rates.
That's true but if you withdraw is $1,000 (example) and you interest rate is 15% (Penfed and others have it) and you are going to pay total principal plus interest in the first 30 days. The total payment is 1,000 plus interest ($12.32) = $1,032. , total interest cost was 1.23% (32/1000) by $1,000 is really cheap to borrow money.
Anthony Horton, Member
@anthony_horton
PenFed cards are the best as far as cash advances go. That being said, you shouldn't really make a habit out of it, you might find yourself in a world of hurt from fees and interest rates.
People also ask
What is a credit card cash advance limit?
A credit card cash advance limit is the maximum amount a cardholder can withdraw from the card’s full credit line as a cash advance. Your credit card cash advance limit will be a certain percentage of your whole credit card limit. Some online reports mention that the cash advance limit is usually from 5% to 30% of your credit card limit. Note that this percentage can vary based on the card issuer.
The cash advance limit...
read full answerDo cash advances hurt your credit score?
Taking out a cash advance has no direct impact on your credit or credit score unless this operation leads to a credit utilization of more than 30-40%.
Just remember that cash advances are very expensive, ultimately causing you to pay much more money ( through fees and interest rates) than you initially withdraw.
read full answerWhat credit cards can I get with no cash advance fees and a low APR?
There are very few credit cards that have no cash advance fees and low APRs, the best of which is the PenFed Platinum Rewards card. This card has a 0% cash advance fee and a cash advance APR of 17.99%. The regular APR is 17.99% (V). In addition, the card also offers 1 - 5 points per $1 on purchases.
Here are some good credit cards with no cash advance fees and low APRs:
- Overall PenFed Platinum Rewards Visa Signature® CardPenFed Platinum Rewards Visa Signature® CardLearn MoreLearn Moreon issuer's website
- No minimum deposit required Chime Credit CardChime Credit CardLearn MoreLearn More
- Secured DCU Visa® Platinum Secured Credit CardDCU Visa® Platinum Secured Credit CardLearn MoreLearn More
It is worth noting that...
read full answer
Dodger Bernard, Member
@dodger_bernard
Big bank credit cards that offer cash advances have fairly similar fees and interest rates. That being said, the Capital One Venture Rewards credit card is pretty good.
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