What is the Chase Freedom cash advance limit?

This question is about the Chase Freedom®

Eleanor Parker, Member

@eleanor_parker • 10/22/20 This answer was first published on 02/16/18 and it was last updated on 10/22/20.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The Chase Freedom cash advance limit would be 5% of your credit limit.

Keep in mind that with a cash advance, there will be fees involved and a higher interest rate as well. For further details, just call their Credit Card Customer Service Team at 800-945-2000.

gilbertgreg83, Member

@gilbertgreg83 10/19/20 This answer was first published on 10/19/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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It was 20% of your credit limit but now it’s 5%.

People also ask

What is a credit card cash advance limit?

A credit card cash advance limit is the maximum amount a credit card user 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 reports online suggest the rule of thumb for cash advance limits is 20% of your credit card limit, but it can vary based on the card issuer.… read full answer

Note that you will need a PIN to get a cash advance from an ATM. Notoriously high APRs and fees also mean that doing a credit card cash advance should be reserved for emergency situations only.

The cash advance limit is also called “cash credit line” or “cash access line,” depending on the card issuer. They all refer to the same thing.

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What's the best cash advance credit card?

The best cash advance credit card is the PenFed Platinum 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%.… read full answer

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.

PenFed Platinum Rewards Visa Signature® Card: 0% cash advance fee. 17.99% cash advance APR. $0 annual fee. Requires excellent credit.

PenFed Power Cash Rewards Visa Signature® Card: 0% cash advance fee. 17.99% cash advance APR. $0 annual fee. Requires excellent credit.

DCU Visa® Platinum Rewards Credit Card: 0% cash advance fee. 11.25% - 18% (V) cash advance APR. $0 annual fee. Requires excellent credit.

DCU Visa® Platinum Secured Credit Card: 0% cash advance fee. 11.50% (V) cash advance APR. $500 minimum security deposit. $0 annual fee. Bad credit accepted.

PNC Premier Traveler® Visa Signature Credit Card: $5 cash advance fee. 15.99% (V) cash advance APR. $85 annual fee, waived the first year. Requires excellent credit.

Simmons Bank Visa®: 3% (min $4) cash advance fee. 12.25% (V) cash advance APR. $0 annual fee. Requires excellent credit.

Some of the best cash advance credit cards also offer some excellent rewards. For example, the PNC Premier Traveler card offers 30,000 miles for spending $3,000 in the first 3 months. And it gives 2 miles / $1 on all purchases.

The PenFed Platinum Rewards Visa offers 5 points per $1 spent on gas and electric vehicle charging stations, 3 points per $1 at supermarkets and restaurants, 3 points per $1 on cable, satellite and other pay television/radio/streaming services, as well as 1 point per $1 on all other purchases. And it gives a 15,000 points for spending $1,500 in the first 3 months. Only PenFed members can get the card, but anyone can join PenFed, all you need to do is simply fund a savings account with at least $5.

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