You can get a Chase Sapphire Reserve cash advance at any ATM. To do so, just insert your card, then enter your PIN and choose the cash advance option. After that, enter the amount you want to withdraw and acknowledge the fee disclosure to receive the cash advance.
You can also get a Chase Sapphire Reserve cash advance at a Chase branch. Just make sure to bring a government-issued photo ID with you.
What you should know about Chase Sapphire Reserve cash advances:
Cash advances come with high APRs: The Chase Sapphire Reserve cash advance APR is 27.24% (V), which will start accruing interest immediately, with no grace period.
There is a cash advance fee: The fee for a Chase Sapphire Reserve cash advance is: Either $10 or 5% of the amount of each transaction, whichever is greater. ATM-owner fees might also be included.
Cash advances require a PIN: To use a Chase Sapphire Reserve for cash advances at an ATM, you will need a PIN. If you don’t already have one, you can make a request over the phone at (800) 297-4970.
Cash advance limit: Your cash advance limit will be 5% of your overall credit limit, so you need to make sure you have enough available credit to cover the transaction and any fees.
Ultimately, keep in mind that cash advances are really expensive. So, it would be best to avoid using your Chase Sapphire Reserve for cash advances, unless it’s absolutely necessary.
The Chase Sapphire Reserve® Card cash advance fee is Either $10 or 5% of the amount of each transaction, whichever is greater. A cash advance fee is charged when using the Chase Sapphire Reserve Card for cash withdrawals at an ATM or in person at participating locations.
Bear in mind that when you make a cash advance, you will incur other costs in addition to the Chase Sapphire Reserve Card cash advance fee. There’s a separate cash advance APR that applies immediately after you complete the transaction. The ATM owner may also impose additional charges.… read full answer
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 27.24% (V) for most cards, which is a lot higher than each card’s regular APR.
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: 27.24% (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.
No, Chase Sapphire Reserve is not a cash back credit card. Although the Chase Sapphire Reserve does not offer cash back, it does earn rewards. This card gives you 1 - 10 points per $1 spent on purchases.
The Chase Sapphire Reserve also offers 60,000 bonus points for spending $4,000 in the first 3 months, and has an annual fee of $550.
Alternative Credit Card Option
If you’re looking for a cash back credit card, you should consider getting the Blue Cash Preferred® Card from American Express. This card offers at least 1% cash back on purchases. Plus, you can also earn a $350 statement credit for spending $3,000 in the first 6 months. The Blue Cash Preferred annual fee is $95 and it requires at least good credit for approval.… read full answer
There are plenty of other cash back credit cards to consider, though. So, feel free to check out our editors’ latest picks for the best cash back credit cards on the market to weigh your options.
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