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.
The best cash advance credit card is the PenFed Platinum Rewards Visa because it has a $0 cash advance fee and a low cash advance APR: 11.74% to 17.99% (V), depending on credit standing. 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.
Some of the best cash advance credit cards also offer some excellent rewards. For example, the PNC Premier Traveler card offers 30,000 points for spending $3,000 in the first 3 months. And it gives 2 miles per $1 on all purchases.
The PenFed Platinum Rewards Visa offers 5 points per $1 spent on gas, 3 points per $1 at supermarkets and 1 everywhere else. And it gives a $100 statement credit for spending $1,500 in the first 90 days. Only PenFed members can get the card, but anyone can join PenFed with a $17 one-time donation to the National Military Family Association or Voices for America’s Troops. U.S. military or government employees and their families join for free.
To get either of the DCU credit cards, you must be a relative of a member, work for one of 700+ New England employers, or live in one of seven communities in MA and GA.
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