How Chase Cash Advances Work
If you have a Chase credit card, you can use it to withdraw cash from ATMs or bank branches. This is called a cash advance. Chase treats it differently from a regular purchase, with separate fees, interest rates, and limits.
While cash advances can provide quick access to cash in emergencies, they come with significant costs that make them one of the most expensive ways to borrow money.
Getting a Chase Cash Advance
At an ATM. Use your Chase credit card at any ATM that accepts Visa. You'll need your PIN, which you can set up by calling the number on the back of your card or through the Chase mobile app. Insert your card, select "cash advance" or "credit," and withdraw your desired amount.
At a bank branch. Visit any Chase branch with your credit card and a valid ID. Request a cash advance from the teller. Branch withdrawals may allow higher amounts than ATM limits.
Through convenience checks. Chase occasionally sends convenience checks linked to your credit card account. Writing one of these checks counts as a cash advance with the same fees and rates.
Chase Cash Advance Fees and Rates
Cash advance fee. Chase charges either $10 or 5% of the amount, whichever is greater. So a $500 cash advance costs $25 in fees, while a $100 advance still costs $10.
Cash advance APR. The interest rate on Chase cash advances is typically 29.99% variable, though your specific rate may vary. This is significantly higher than the purchase APR on most Chase cards.
No grace period. Interest starts accruing from the day you take the cash advance. Unlike purchases, where you can avoid interest by paying your full statement balance, cash advance interest is immediate.
ATM fees. In addition to Chase's cash advance fee, the ATM operator may charge their own fee, typically $2 to $5 per transaction.
Chase Cash Advance Limits
Your cash advance limit is a portion of your total credit limit, not the full amount. For example, if your Chase card has a $10,000 credit limit, your cash advance limit might be $2,000 to $3,000.
You can check your cash advance limit by logging into your Chase account online or calling customer service. Daily ATM withdrawal limits may further restrict how much you can get in a single day, typically $500 to $1,000 depending on the ATM.
Which Chase Cards Allow Cash Advances?
Most Chase credit cards allow cash advances, including the Chase Sapphire Preferred, Chase Sapphire Reserve, Chase Freedom Unlimited, Chase Freedom Flex, and Chase Ink Business cards.
The terms vary slightly between cards, so check your specific card's terms and conditions for exact fees and rates.
How a Chase Cash Advance Affects Your Credit
The cash advance itself won't show up as a separate item on your credit report. However, it increases your credit card balance, which raises your credit utilization ratio. Higher utilization can lower your credit score.
If the added balance makes it difficult to pay your bill on time, the late payment will cause additional damage to your score.
Better Alternatives to Chase Cash Advances
Chase personal loan. If you're an eligible Chase customer, you may have access to personal loan offers through your Chase account. These typically offer much lower interest rates than cash advances.
Chase overdraft protection. If you have a Chase checking account, setting up overdraft protection linked to a savings account or line of credit is far cheaper than a cash advance.
Earned wage access apps. Services like Earnin or Dave let you access earned wages early with minimal or no fees.
Balance transfer. If you need to free up cash, a balance transfer to a card with a 0% intro APR can reduce your interest burden and improve your cash flow.
Emergency fund. Building even a small emergency fund of $500 to $1,000 can prevent the need for expensive cash advances. Start by setting up automatic transfers to a savings account. Learn more about how cash advances work on credit cards to make informed financial decisions.
The Bottom Line
Chase credit card cash advances should be a last resort. The combination of a 5% fee, nearly 30% APR, and no grace period makes them extremely expensive. Explore cheaper alternatives whenever possible, and focus on building an emergency fund for the future. Learn more about managing credit at the credit builder card.
Frequently Asked Questions
What is the cash advance fee on Chase credit cards?
Chase charges a cash advance fee of either $10 or 5% of the transaction amount, whichever is greater. On a $200 withdrawal, that's $10. On a $1,000 withdrawal, that's $50. This fee is charged in addition to any ATM operator fees and on top of the high cash advance APR.
How do I find my Chase cash advance limit?
Log into your Chase account at chase.com or through the mobile app, then navigate to your card's details page. Your cash advance limit is listed separately from your regular credit limit. You can also call the number on the back of your card to ask a representative. The limit is typically 20%-30% of your total credit line.
Does a Chase cash advance hurt my credit score?
A cash advance increases your credit card balance, which raises your credit utilization ratio — and high utilization can lower your score. The advance itself isn't flagged differently on your credit report, but carrying the balance and the risk of a missed payment both pose risks to your credit health.
