Rhonda Stewart, WalletHub Loans Analyst
@rhonda
The Green Dot Secured cash advance limit will be 50% of your entire credit limit for both the Green Dot primor® Visa® Classic Secured Credit Card and the Green Dot Visa® Secured Credit Card. For example, if your account credit limit is $200, your cash advance credit limit will be $100. You can confirm your cash advance limit either by checking your monthly statement or by calling (866) 291-0818.
Keep in mind that you will be charged a cash advance fee of 5% (min $5), each time. Also, the interest rate applicable on cash advances is typically higher than what is charged for other card transactions. The cash advance APR will start accruing as soon as the advance is granted as there is no grace period for it. The cash advance APR for the Green Dot primor® Visa® Classic Secured Credit Card is 18.99% and for the Green Dot Visa® Secured Credit Card, it is 19.99%.
Please note that cash advances are very costly, ultimately causing you to pay much more money (through fees and interest rates) than you initially withdraw. This is why cash advances with a credit card should only be reserved for emergencies.
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