Writer: Eric Bank
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
Disclosure: When you apply through links on our site, we may earn a referral fee from our partners. For more, see our ad disclosure and review policy.
It’s a good idea to know the cash advance limits on your credit cards before asking an ATM to start spitting out money. As it turns out, each card and card issuer has set limits on the maximum cash advance you can get, further tempered by factors such as your current balance and daily ATM withdrawal limit.
Read on for a rundown on how several popular credit card companies control how much cash you can borrow from their cards.
Amex | BoA | Capital One | Chase | Citi
1. American Express Cash Advance Limit: $10,000
offers a sizable number of both credit cards and charge cards. The former lets you stretch payments over multiple months whereas the latter requires full payment by the next due date (unless you sign up for an Amex program that allows you to stretch your repayments).
We found a maximum cash advance limit of $10,000 on the American Express Centurion® Card (which can only be applied for by invitation), followed by $8,000 on the The Platinum Card®, $6,000 on the American Express® Gold Card, and $3,000 on the American Express Green Card®. There may also be a limit on the number of times and the cash amounts you can withdraw money from ATMs in a given time period.
- Earn 175,000 Membership Rewards® points after you use your new card to make $8,000 in purchases in your first 6 months of Card Membership
- Earn 5X Membership Rewards® points for flights booked directly through airlines or American Express Travel, on up to $500,000 on these purchases per calendar year. Also earn 5X Membership Rewards® points on prepaid hotels on AmexTravel.com.
- $600 annual hotel credit, $200 annual airline fee credit, $200 per year Uber cash credit, $300 per year digital entertainment credit, and more.
- Platinum Card Members have unlimited complimentary access to all locations of The Global Lounge Collection®, including 1,550 airport lounges.
- Apply with Confidence: Know if you're approved for this Card with no credit score impact
- Fee Credit for Global Entry, TSA PreCheck®, CLEAR® Plus Membership
- Earn as high as 100,000 Membership Rewards® points after you spend $8,000 in purchases on your new card within the first 6 months of card membership. Welcome offers vary and you may not be eligible for an offer.
- Earn 4X Points at U.S. supermarkets on up to $25,000 per calendar year in purchases. Also earn 4X Points at restaurants on up to $50,000 per year in purchases, 5X points on prepaid hotels booked through AmexTravel.com or Amex Travel App™, 3X points on flights booked through AmexTravel.com or Amex Travel App™ or directly through airlines, and 2X points on prepaid car rentals booked through AmexTravel.com or Amex Travel App™ and cruises booked and paid through AmexTravel.com.
- No foreign transaction fees
- $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at participating partners. This can be an annual savings of up to $120. Enrollment required.
- Take advantage of a $100 credit towards eligible charges at over 1,300 upscale hotels worldwide every time you book The Hotel Collection through AmexTravel.com or Amex Travel App™
- $325 Annual Fee
- Earn 40,000 Membership Rewards® Points after you spend $3,000 on purchases on your new card in your first 6 months of card membership
- Earn 3X points on restaurants, including takeout and delivery, and 3X points on transit and travel — all other purchases earn 1X point per $1 spent
- You can receive up to $209 in statement credits per calendar year after you sign up and pay for a CLEAR Plus Membership (subject to auto-renewal) with your eligible American Express Card
- Find out if you Pre-Qualify for the American Express Green Card® or other offers in as little as 30 seconds
- Card Members can enjoy presale and special ticket access to select can't miss events through Events with Amex™
- No foreign transaction fees
- $150 Annual Fee
American Express offers you two ways to withdraw cash from an ATM (or from a teller). The first method, which Amex calls Cash Advance, is a true cash advance feature that lets you borrow against the card’s credit line (minus your existing balance). Alternatively, you can use the card’s Express Cash feature to access cash from a linked financial institution account (such as a checking account), similar to how a debit card works.
A 5% transaction fee applies for an ATM cash advance, plus any fee charged by the ATM operator, with a minimum charge of $10. You’ll need to obtain a four-digit PIN from Amex to use your credit card as an ATM card. Interest charges accrue starting on the transaction date — there is no grace period.
2. Bank of America Cash Advance Limit: 30% of Credit Limit
uses the term “Bank Cash Advances” to refer to advances via an ATM, over the counter, same-day online, and an overdraft protection cash advance feature. The total amount of cash available for cash advances is equal to the cash limit currently assigned to you on your credit card. The cash credit limit is 30% of your total credit limit.
We’ve identified the Bank of America® Customized Cash Rewards credit card as having a credit limit as high as $95,000, although the average credit limit is certainly much lower. Presumably, the cash credit limit for this lucky cardholder would be 30% of $95,000, or $28,500.
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 6% cash back for the first year in the category of your choice. You’ll automatically earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. After the first year from account opening, you’ll earn 3% cash back on purchases in your choice category.
- Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- Select your card design option when you apply – the Customized Cash Rewards design, or the limited-time FIFA World Cup 2026™ design.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.49% - 27.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
- 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
- Earn unlimited 1.5 points per $1 spent on everyday purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
- Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center.
- Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
- Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants, including takeout.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.49% - 27.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 2% cash back on purchases for the first year from account opening, with no limit to the amount of cash back you can earn.
- Thereafter, you’ll earn unlimited 1.5% cash back on all purchases, with no expiration on rewards as long as your account remains open.
- No annual fee.
- Select your card design option when you apply – the Unlimited Cash Rewards design, or the limited-time FIFA World Cup 2026™ design.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.49% - 27.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
The cash advance transaction fee is 4% to 5% of the amount of each transaction, whichever is greater and depending on the type of advance.
Any outstanding or pending cash advances reduce the amount available for new advances. You need to create a PIN, using the bank’s website or mobile app, before your first cash advance.
3. Capital One Cash Advance Limit: 30% to 50% of Credit Limit
credit cards set cash advance limits at 30% to 50% of the total credit limit, depending on your creditworthiness. The cash advance fee is either $10 or 3% of the amount of each cash advance, whichever is greater. A daily ATM withdrawal limit of $600 on ATM cash withdrawal transactions applies to ATM cash advances.
In terms of the highest available credit line from a Capital One card, we came across one reviewer who reported an initial $50,000 credit limit from the Capital One Venture Rewards Credit Card, implying a cash advance limit up to $25,000. However, the average credit limit for this card is in the range of $5,000 to $10,000.
- Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
- $0 annual fee and no foreign transaction fees
- Earn unlimited 1.25X miles on every purchase, every day
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Transfer your miles to your choice of 15+ travel loyalty programs
- Enjoy 0% intro APR on purchases and balance transfers for 15 months; 18.49% - 28.49% variable APR after that; balance transfer fee applies
- Top rated mobile app
- Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase, every day
- $0 annual fee and no foreign transaction fees
- Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases and balance transfers for 15 months; 18.49% - 28.49% variable APR after that; balance transfer fee applies
- Top rated mobile app
- Earn a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app
You need a PIN to get an ATM withdrawal for a cash advance, but no PIN is needed for an in-branch advance as long as you have suitable identification.
4. Chase Cash Advance Limit: 5% of Credit Limit
The Chase Sapphire Preferred® Card has an average credit limit of $10,000, although remarks on Quora speak of a $500,000 credit limit. That’s the highest limit we’ve seen for any Chase credit card.
With a cash advance limit of 5% of the overall credit limit, that high-flying card would permit cash advances of up to $25,000.
- Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
- Get more than $2,700 in annual value with Sapphire Reserve.
- Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
- $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
- Access over 1,300 airport lounges worldwide with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck® every 4 years
- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
- Get complimentary Apple TV+, the exclusive streaming home of Apple Originals. Plus Apple Music — all the music you love, across all your devices. Subscriptions run through 6/22/27 — a value of $250 annually
- Member FDIC
Additional Disclosure: Non-Monetized. The information related to Chase Sapphire Reserve® was collected by CardRates and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. CardRates does not receive commission for this product.
- Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
- Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
- 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Member FDIC
Additional Disclosure: Non-Monetized. The information related to Chase Sapphire Preferred® Card was collected by CardRates and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. CardRates does not receive commission for this product.
- Intro Offer: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.99% - 28.49%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
- Member FDIC
Additional Disclosure: Non-Monetized. The information related to Chase Freedom Unlimited® was collected by CardRates and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. CardRates does not receive commission for this product.
Chase charges either $10 or 5% of the amount of each cash advance transaction, whichever is greater. You will need a PIN for an ATM cash advance, but not for an in-branch one.
As is true for many credit cards, the cash advance APR on Chase cards is usually higher than the purchase APR.
5. Citi Cash Advance Limit: 50% of Credit Limit
Citi caps cash advances at no more than 50% of your overall credit limit. One reviewer reported a $50,000 credit limit on the Citi Double Cash® Card, which would translate into a $25,000 cash advance limit.
- Earn 75,000 bonus Points after spending $6,000 in the first 3 months of account opening.
- Earn 12 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on cititravel.com and 6 Points per $1 spent on Air Travel booked on cititravel.com
- Earn 6 Points per $1 spent at Restaurants including Restaurant Delivery Services on CitiNights℠ purchases, every Friday and Saturday from 6 PM to 6 AM ET. Earn 3 Points per $1 spent any other time
- Earn 1.5 Points per $1 spent on All Other Purchases
- Up to $300 Annual Hotel Benefit: Each calendar year, enjoy up to $300 off a hotel stay of two nights or more when booked through cititravel.com.
- No Foreign Transaction Fees
Additional Disclosure: Citi is a CardRates advertiser.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.49% - 27.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Additional Disclosure: Citi is a CardRates advertiser.
- Earn 20,000 bonus Points after spending $1,000 in the first 3 months of account opening.
- 0% Intro APR on balance transfers and purchases for 15 months; after that, the variable APR will be 18.49% - 28.49%, based on your creditworthiness. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- Earn 3 ThankYou® Points for each $1 spent in an eligible Self-Select Category of your choice (Fitness Clubs, Select Streaming Services, Live Entertainment, Cosmetic Stores/Barber Shops/Hair Salons, or Pet Supply Stores). Choose your eligible Self-Select Category on Citi Online or by calling customer service. The default Self-Select Category is Select Streaming Services.
- Earn 5 ThankYou® Points for each $1 spent on Hotels, Car Rentals and Attractions booked on Citi Travel® via cititravel.com; earn 3 ThankYou Points for each $1 spent at Supermarkets, on Select Transit purchases, and at Gas & EV Charging Stations.
- Earn 2 ThankYou® Points for each $1 spent at Restaurants; earn 1 ThankYou® Point for each $1 spent on All Other Purchases.
- No Annual Fee
Additional Disclosure: Citi is a CardRates advertiser.
A cash advance fee will apply, and Citi cards charge a higher APR for cash advances than it does for credit card purchases. You can get a cash advance at a Citibank or UnionPay ATM, but you must first obtain a 4-digit passcode, (unnecessary for in-branch cash advances).
What is a Credit Card Cash Advance?
A credit card cash advance is a loan from the issuer of your credit card. Like any loan, it has an interest rate (the card’s cash advance APR) and other terms such as daily interest accrual and monthly minimum payment due.
Usually, cash advance APRs exceed 20%, making this an expensive way to borrow money. Nonetheless, it’s also just about the fastest way to get an emergency loan since the maximum loan amount is already pre-authorized.
That maximum amount is usually a percentage of a credit card’s overall credit limit. Charge cards, which include many cards offered by American Express, have no stated credit limits, so these cards establish fixed maximum cash advance limits.
How Does a Cash Advance Work?
When you apply for a credit card, the credit card company assesses your creditworthiness. If your application is approved, you’ll receive the card along with a credit limit and, if cash advances are permitted, a limit on these as well.
You can get a cash advance by using your credit card account as an ATM card for an ATM withdrawal. However, you first must obtain a PIN to allow you to use the ATM.
Other ways to get a cash advance include interacting with a teller at a financial institution, requesting a direct deposit online or through a mobile app, or automatically covering an overdraft on a linked checking account or another financial account.
The amount you can borrow is capped by your cash advance limit (or your credit limit if there is no separate cash advance limit), your current cash advance balance, and any particular daily limits (such as those often imposed on ATM cash withdrawal transactions).
Fees, including an ATM fee, are tacked onto the advance amount and interest begins accruing on a daily basis starting on the day you received the cash advance.
You can repay your cash advance at any time but you must make at least the minimum payment monthly. Failure to do so will result in late fees and possibly a penalty APR. Because the APRs on cash advances are high, you normally only take an advance for emergencies and repay them as quickly as possible.
How Do I Know My Cash Advance Limit?
Your monthly credit card statement can tell you your cash advance limit. Find the standardized account summary section for the end-of-cycle figures, including:
- Cash advances made during the cycle
- Credit line
- Available credit
- Cash access line
- Available for cash
Your cash access line is the limit for cash advances. It usually represents a percentage of your overall credit limit, or simply a fixed amount if your card has no preset spending limits.
The amount available for cash advances is correct as of the last day of the billing cycle. Obviously, any repayments or additional advances since that date will change this figure.
Two more important figures in the account summary section are the fees and finance charges incurred during the billing cycle. These figures will include any of the cycle’s fees for new advances and the finance charge you incurred during the cycle on your cash advances. Interest on cash advances accrues daily, starting with the card transaction date.
What is the Maximum Cash Amount I Can Withdraw?
The maximum cash advance you can withdraw is called the cash access line in your credit card statement. That number remains unchanged unless you are granted a higher cash advance limit. The item “available for cash” on your statement refers to how much was available for cash advances as of the last day of the billing cycle.
“Available for cash” is equal to the cash access line minus cash advances. For example, if you have an $800 cash access line and have taken $300 in cash advances, you still have $500 available for cash.
Any activity involving cash advances occurring after the cycle end date will appear on the next statement, but you can get up-to-the-minute figures online and/or via a mobile app.
Which Credit Card Gives the Highest Cash Advance Amount?
To identify the credit card account with the highest cash advance amount, look at the percentage of the overall credit limit available for cash advances. In truth, the amount you will have available for cash advances depends on your credit rating and your overall credit limit.
Naturally, cards that market to consumers with excellent credit should have the highest cash advance limits. Many cards set the maximum cash advance amount at 30% to 50% of the overall credit limit. Our top-rated cards for excellent credit are as follows:
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 6% cash back for the first year in the category of your choice. You’ll automatically earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. After the first year from account opening, you’ll earn 3% cash back on purchases in your choice category.
- Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- Select your card design option when you apply – the Customized Cash Rewards design, or the limited-time FIFA World Cup 2026™ design.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.49% - 27.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- Receive a $300 annual credit for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Enjoy access to 1,300+ lounges worldwide, including Capital One Lounge and Landing locations and participating Priority Pass™ lounges, after enrollment
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Top rated mobile app
- 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
- Earn unlimited 1.5 points per $1 spent on everyday purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
- Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center.
- Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
- Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants, including takeout.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.49% - 27.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
While Amex lists a $10,000 cash advance limit on its ultra-ritzy American Express Centurion® Card, we have the sneaking suspicion that cardholders can negotiate a higher limit — much higher.
Can I Withdraw More Than My Cash Advance Limit?
Card issuers set their own policies when it comes to advancing cash in excess of your approved limit. Some issuers may simply decline the transaction. However, other issuers may approve the transaction but charge you penalty fees and perhaps a penalty APR.
If you are allowed to withdraw more than your cash advance limit, you will be expected to repay the overage and fees by the next due date. The overage will be added to the minimum payment due.
If you find yourself repeatedly needing over-limit cash advances, consider asking the card issuer for a higher cash advance limit or look for a new card that will be willing to grant you a higher cash access line. You can improve your chances of qualifying for a higher credit limit by taking steps to boost your credit score, decreasing your debt-to-income and/or credit utilization ratio, reducing overall credit card debt, and paying your bills on time.
Does a Cash Advance Affect My Credit Limit?
Typically, your credit limit does triple duty. It governs the amount available for your credit card purchases, cash advances, and each balance transfer. This is true even if all three types of transactions incur a different interest rate, as is often the case for a balance transfer or cash advance.
Taking a cash advance doesn’t affect your credit limit per se, but it does reduce your credit available. For example, if your overall credit limit is $5,000 and you take a $500 cash advance, your remaining credit available is $4,500. Typically, the amount available for a cash advance is some percentage of your overall credit limit.
If you find yourself constantly hitting your card’s cash withdrawal limit, consider asking the issuer for a credit line increase. You can help the process by taking steps to improve your credit score, such as making all your payments on time and not carrying a large cash advance balance on your cards.
Alternatively, you may want to get a credit card with a more generous credit limit, either as a replacement for your current one or simply as an additional source of credit.
Cash Advances Can Help When You’re in a Bind, But Should Only Be Used with Caution
Credit cards provide revolving credit, meaning you are given an approved credit line you can use as you wish. So, when you want a cash advance, you can get one up to the card’s cash withdrawal limit without having to fill out a new credit application.
The revolving nature of credit cards is very attractive because you can use your credit immediately and you only pay interest on the credit you use. Thus, if you need money in a hurry, a credit card cash advance up to the cash advance limits can really save your bacon. But beware, with APRs up to 30% or higher, the cost can mount up quickly and, in the worst case, throw you into a credit card debt spiral that can lead to bankruptcy.
Consider some other ways to handle a sudden need for cash. Start with an emergency savings fund where you stash up to six months of expenses. If you own a home, an excellent source of low-cost cash is a home equity line of credit. It’s also a revolving credit facility, but the interest rate is much lower than for credit card APRs.
Another preferable alternative is an online personal loan. If you qualify, you can get funding in a day or two, and the interest rate should be below that for credit card advances.
In all cases, do not get a payday loan. It’s hard to find a higher interest rate than the one you’ll be charged on a payday loan.
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