Sarah Bilkins, WalletHub Credit Card Analyst
@sarah.bilkins
The Mastercard cash advance fee is generally 3% or 5% of the cash advance amount, depending on the card. However, there are also some exceptions. For instance, the Indigo® Mastercard® for Less than Perfect Credit cash advance fee is: 5% (min $5). Note that cash advance fees are assessed by the card issuer, and they are not controlled by Mastercard.
Cash Advance Fees for Mastercard Credit Cards
| Mastercard Credit Card: | Cash Advance Fee: |
| 5% (min $5) | |
| 5% (min $5) | |
| 5% (min $10) | |
| Either $10 or 5% of the amount of each transaction, whichever is greater. | |
| Either $10 or 5% of the amount of each transaction, whichever is greater. |
Be aware, this fee is not the only cost associated with cash advances. You will also get charged interest on the cash advance amount. Plus, there may be ATM fees, too, depending on where you do the cash advance.
In the long run, cash advances can get expensive. However, if you’re looking for a card that will save you a little bit of money on cash advances, check out WalletHub’s picks for the best cash advance credit cards.
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People also ask
How can I get a Mastercard cash advance?
You can get a Mastercard cash advance by visiting any ATM that displays the Mastercard logo, inserting the credit card and entering your PIN. Next, choose the cash advance option from the ATM’s menu, input the amount of the cash advance, and collect the cash and your card. Cardholders who do not yet have a PIN will need to contact their credit card issuer to get one prior to taking out a cash advance at an...
read full answer by WalletHub, Financial CompanyHow much does a cash advance cost?
A cash advance will cost you an average of 4.02% of the amount you withdraw. The cash advance fee applies when you use your credit card to get cash from an ATM, and you may also incur interest charges and ATM owner fees.
In addition to expensive fees, there is a high cash advance APR (24.83%, on average). From the moment you withdraw the money, your credit card company will immediately begin charging you interest....
read full answer by Paul Kessler, WalletHub Credit Card AnalystDid we answer your question?
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