How can I get a Home Depot Credit Card cash advance? This question is about the Home Depot® Credit Card

How can I get a Home Depot Credit Card cash advance?

Answer Question Report Abuse

This question is about the Home Depot® Credit Card

Bogdan Roberts, Credit Cards Moderator

@bogdan_roberts • 04/30/21 This answer was first published on 04/30/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Permalink Report Abuse

You cannot get cash advances with the Home Depot® Credit Card.

And that may actually be a good thing, considering that credit card cash advances are really expensive. Cash advances usually incur cash advance fees and an interest rate that is not subject to the card's grace period and begins accruing immediately. The most common way to get a cash advance from an eligible card is through an ATM withdrawal. You just need a PIN that can be obtained from the issuer. You can also get cash advances at a bank branch and through cash advance checks.

Given the high costs associated with cash advances, the Home Depot® Credit Card's lack of this feature isn't such a bad thing. You should reserve credit card cash advances for emergency use only.

Answer Question

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 26.74% (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.

show less

How much is the Citibank cash advance fee?

The Citibank cash advance fee is 5% (min $10) per transaction, whichever is higher. A cash advance fee is a fee charged when using a Citibank credit card for cash withdrawals at an ATM, or in person at participating locations.

Bear in mind that when you do a cash advance, you will incur other costs in addition to the Citibank 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

show less

What's the best cash advance credit card?

The best cash advance credit card is the PenFed Platinum Rewards Visa Signature® Card because it has a 0% cash advance fee and a low cash advance APR: 17.99%. 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.

Best Cash Advance Credit Cards

PenFed Platinum Rewards Visa Signature® Card: 0% cash advance fee. 17.99% cash advance APR. $0 annual fee. Requires excellent credit.

PenFed Power Cash Rewards Visa Signature® Card: 0% cash advance fee. 17.99% cash advance APR. $0 annual fee. Requires excellent credit.

DCU Visa® Platinum Rewards Credit Card: 0% cash advance fee. 12% - 18% (V) cash advance APR. $0 annual fee. Requires excellent credit.

DCU Visa® Platinum Secured Credit Card: 0% cash advance fee. 12.25% (V) cash advance APR. $500 minimum security deposit. $0 annual fee. Bad credit accepted.

PNC Premier Traveler® Visa Signature Credit Card: $5 cash advance fee. 17.49% (V) cash advance APR. $85 annual fee, waived the first year. Requires excellent credit.

Simmons Bank Visa®: 3% (min $4) cash advance fee. 15.75% - 23.75% (V) cash advance APR. $0 annual fee. Requires excellent credit.

Some of the best cash advance credit cards also offer some excellent rewards. For example, the PNC Premier Traveler card offers 30,000 miles for spending $3,000 in the first 3 months. And it gives 2 miles / $1 on all purchases.

The PenFed Platinum Rewards Visa offers 5 points per $1 spent on gas and electric vehicle charging stations, 3 points per $1 at supermarkets and restaurants, 3 points per $1 on cable, satellite and other pay television/radio/streaming services, as well as 1 point per $1 on all other purchases. And it gives a 15,000 points for spending $1,500 in the first 3 months. Only PenFed members can get the card, but anyone can join PenFed, all you need to do is simply fund a savings account with at least $5.

show less

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by a WalletHub user. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.