How much is the Citi Simplicity Card cash advance fee?

To do a Citibank cash advance, you can either withdraw funds from an ATM or visit a local Citibank branch and ask the teller for a cash advance. For ATM transactions, you will need to request a 4-digit PIN from Citi customer service if you did not receive one after being approved for an account.… read full answer

It’s also worth noting that a Citibank credit card cash advance limit is different for everyone. You can view that information on your statement, online or by calling the number you see on the back of your card.

Here’s why you should avoid Citibank cash advances:

Cash advances are expensive, so it’s best to avoid them whenever possible. That’s true with all credit card companies, and Citibank is no exception. Citi’s cash advance fee is 5% (min $10). There may be additional bank fees if you withdraw cash from an ATM. There’s also a separate APR for cash advances. It’s typically higher than the card’s regular APR.

The Citibank cash advance APR can be as high as 29.49% (V), depending on the card and your creditworthiness. Cash advances accumulate daily interest from the time you make the transaction, with no grace period. New interest is added on top of any existing interest charges each day.

So, it’s best to pay off your Citibank cash advance as soon as you can, or better yet, just stay away from cash advances altogether.

You can get cash from a credit card through rewards redemption or by doing a cash advance. Rewards are the better option because they actually save you money. Cash advances have very high fees and interest, so they’re more of a last resort than anything else. If you do get one, you’ll want to pay it back as quickly as possible.… read full answer

Here’s how to get cash from a credit card:

• Earn and redeem rewards: There are lots of cash back credit cards. Typically, they’ll give you at least 1% cash back on all purchases, and sometimes higher rates on specific categories of purchases.
• Do a cash advance: You can make an ATM withdrawal with your credit card to turn some of your available credit into cash. You just need to get a PIN from the card’s issuer. You can withdraw up to the “cash advance limit” listed on your statement. But cash advances are expensive – you can expect a hefty fee and a high APR that starts costing you right away. There’s no grace period.
  
  You can also get cash from a bank branch by presenting your credit card and a government-issued photo ID to the bank teller, or with a cash advance check sent to you either automatically by the issuer or by your own request.
  
  Store credit cards generally do not allow cash advances.
• At the register: Some credit cards don’t work like this, but the Walmart® Store Card, for example, allows you to withdraw up to $20 each time you make a purchase at a Walmart store location. This is also treated as a purchase, not a cash advance.

So, cash advances are not an attractive option, but there are a ton of attractive cash rewards credit cards on the market.

Taking out a cash advance has no direct impact on your credit or credit score unless this operation leads to a credit utilization of more than 30-40%.

Just remember that cash advances are very expensive, ultimately causing you to pay much more money ( through fees and interest rates) than you initially withdraw.… read full answer