How much is the cash advance limit for Discover it CashBack?

The Discover it® Cash Back credit limit is at least $500 for all cardholders. It has the potential to be higher, too. Discover does not disclose a maximum credit limit, but there are reports of some cardholders receiving credit limits between $2,500 and $9,000.

As with all credit cards, an applicant will need to exceed the Discover it Cash Back card’s approval requirements in order to get a credit limit above the minimum. Credit limits are based on much of the same information that account approval itself is. Most notably, that includes the applicant’s credit score and their income vs. their monthly expenses.... read full answer

Discover it Cash Back’s credit limit minimum is identical to that of all other Discover it credit cards, with the exception of the Discover it Secured Credit Card, where the limit must be set by a security deposit as low as $200. In addition, the Discover it Cash Back card’s $500 limit is comparable to the limits on similar rewards credit cards for good credit, such as Chase Freedom Unlimited®.

Keep in mind that your initial Discover it Cash Back credit limit is not necessarily your credit limit forever. You have the opportunity to ask for credit limit increases. You can ask for a credit limit increase through your online account or by calling Discover at 1 (800) 347-2683. It’s best to wait until you have at least six months of consecutive on-time payments before asking for an increase. Your credit score should also be better than when you initially got the card. Discover may also offer you an automatic credit limit increase during their periodic review of your account, but there’s no guarantee you’ll receive one.

To get a Discover it® Cash Back cash advance:

1. Call Discover customer service at 1 (800) 347-2683 and request a PIN, if you don’t already have one.
2. Insert the credit card at an ATM and enter the PIN.
3. Select the cash advance option on the ATM screen.
4. Enter the amount you’d like to withdraw.... read full answer
5. Withdraw the cash and remove the credit card from the ATM.

Before you take out a Discover it Cash Back cash advance, it’s important to note that it is a very expensive transaction. For starters, a cash advance fee and a separate cash advance APR apply as soon as you withdraw the cash. There may be ATM-owner fees, too.

The cash advance limit is the maximum amount of cash that can be withdrawn against a credit card's balance. With most credit cards this will be considerably lower than the credit limit itself. Cash advances come with high fees and above-average interest rates, that's why we advise against them.

Your credit limit tells you exactly how much money your credit card issuer will let you use. The available credit is the amount that you currently have available to spend. This is based on the credit limit minus the current balance less any pending transactions.... read full answer