What is the Chase Freedom Flex cash advance limit? This question is about the Chase Freedom Flex℠

What is the Chase Freedom Flex cash advance limit?

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This question is about the Chase Freedom Flex℠

Ashley Wade, WalletHub Analyst

@shlee • 05/20/22 This answer was first published on 11/25/20 and it was last updated on 05/20/22.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 Flex cash advance limit is 5% of the card’s credit limit. Given the low Chase Freedom Flex cash advance limit and the card’s high cash advance fee and interest rate, cardholders probably won’t be able to withdraw much money when using Chase Freedom Flex for a cash advance.

There is no grace period for Chase Freedom Flex cash advances, either, so the amount of money you withdraw will immediately start accumulating interest. If possible, avoid taking out cash advances with your credit card.

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How much does a Chase cash advance cost?

A Chase cash advance generally costs: Either $10 or 5% of the amount of each transaction, whichever is greater. Some exceptions are certain Chase’s business credit cards, as well as some co-branded cards. Moreover, interest begins accruing on a cash advance immediately; the Chase cash advance APR is 29.24% (V) for most cards, which is a lot higher than each card’s regular APR.

… read full answer

Here's what you should know before getting a chase cash advance:

Chase Cash Advance Fee: Either $10 or 5% of the amount of each transaction, whichever is greater. This goes for the vast majority of the cards.

Chase Cash Advance APR: 29.24% (V) for most Chase credit cards. This rate kicks in right when you withdraw the money.

PIN: A PIN is required to get a Chase credit card cash advance at an ATM. You can call the number you see on the back of your card to request a PIN from Chase customer service.

How to Do It: You use your Chase credit card like a debit card to get money from an ATM. Your cash advance balance is the amount you withdraw, plus the cash advance fee.

Limits: Many cards have a separate cash advance limit, which is a portion of their overall credit limit. For example, while your limit might be $1,000, if your cash advance limit is 10%, you'll only be able to withdraw $100.

So, to put it simply, cash advances are expensive. You really should avoid them entirely unless you’re in an emergency situation and a cash advance is your only option. If you do have to make one, you can’t avoid the fee, but you can prevent a lot of the interest if you repay your balance right away. But you should also know that cash advances will look bad to your issuer, and could also hurt your chances of getting a credit limit increase in the future.

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Does Chase Freedom Unlimited offer 5% cash back?

Yes, Chase Freedom Unlimited currently offers 5% cash back on travel booked through Chase Ultimate Rewards. In addition to its 5% cash back category, Chase Freedom Unlimited gives at least 1.5% cash back on other types of purchases.

Here’s what Chase Freedom Unlimited currently offers:

INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!

There are also other attractive features to complement the card’s current rewards. Chase Freedom Unlimited comes with a $0 annual fee. Plus, it comes with an introductory APR of 0% for 15 months on both purchases and balance transfers. The card’s regular APR is 19.24% - 27.99% (V). Note that balance transfers are subject to a fee of either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after).… read full answer

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