Frieda Reiss, WalletHub Credit Card Analyst
Yes, you can technically do a Capital One Platinum cash advance every day, but cash advances are extremely expensive transactions and there are limits. Your Capital One Platinum cash advance limit will be a portion of your entire credit limit, which is based on the specifics of your credit. You can find your exact credit limit on your latest monthly statement, under "Available Credit for Cash Advances." Not only that, but ATMs may have withdrawal limits of their own, which may put further restrictions on how much cash you can get.
Keep in mind that cash advances are very costly transactions. Capital One Platinum charges a cash advance fee of 3% (min $3). On top of that, your cash advance balance accrues interest immediately, with no grace period, at a cash advance APR of 29.99% (V). So it’s a good idea to reserve cash advances for emergencies.
Capital One Platinum Credit Card
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