The Ultimate Guide to Credit Cards
Tuesday, January 19, 2021

Cash Advance Limits by Issuer in 2021

Cash Advance Limits

credit card advice

Eric Bank
By: Eric Bank
Posted: December 15, 2020
Advertiser Disclosure

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 | Wells Fargo

1. American Express Cash Advance Limit: $10,000

American Express 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.

The Platinum Card® Review

at the issuer'ssecure website

CATEGORY RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn 75,000 Membership Rewards® points after you use your new card to make $5,000 in purchases in your first 3 months of Card Membership
  • Earn 5X Membership Rewards® points for flights booked directly with airlines or with American Express Travel. Also earn 5X Membership Rewards® points on prepaid hotels (booked and paid in advance) on amextravel.com. Earn 1X points on all other eligible purchases. Terms apply.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com on your Platinum Card®
  • Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to your Platinum Card® Account plus $100 hotel credit to spend on qualifying dining, spa, and resort activities. Qualifying activities vary by property.
  • Access to The Global Lounge Collection® including 1,200 airport lounges across 130 countries and counting
  • Fee Credit for Global Entry or TSA Pre✓®
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A (Charge Card)
$550
Excellent
American Express® Gold Card Review

at the issuer'ssecure website

CATEGORY RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn 60,000 Membership Rewards® points after you spend $4,000 on purchases on your new card in your first 3 months of card membership
  • Earn 4X Points at U.S. supermarkets on up to $25,000 per calendar year in purchases. Also earn 4X Points on restaurants, 3X points on flights when booked directly with airlines or on amextravel.com, and 1X points on all other eligible purchases.
  • Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth's Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
  • Select one qualifying airline and then receive up to $100 in statement credits per calendar year when incidental fees, like checked bags and in-flight refreshments, are charged by the airline to your Gold Card account
  • $250 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A (Charge Card)
$250
Excellent
American Express® Green Card Review

at the issuer'ssecure website

CATEGORY RATING

★★★★★
4.7

OVERALL RATING

4.7/5.0
  • Earn 45,000 Membership Rewards® Points after you spend $2,000 on purchases on your new card in your first 3 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
  • Receive up to $100 per calendar year in statement credits, when you pay for your CLEAR membership with the American Express® Green Card
  • Use the American Express® Green Card to purchase lounge access through LoungeBuddy and receive up to $100 in statement credits per calendar year
  • $150 Annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A (Charge Card)
$150
N/A

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

Bank of America 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® 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.

Bank of America® Cash Rewards Credit Card Review

at Bank Of America'ssecure website

EXPERT'S RATING

★★★★★
4.9

OVERALL RATING

4.7/5.0
  • Enjoy a $200 cash rewards bonus after spending at least $1,000 in purchases in the first 90 days of account opening
  • Earn 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings and 2% cash back at grocery stores and wholesale clubs on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%
  • Unlimited 1% cash back on all other purchases
  • Introductory 0% APR for your first 12 billing cycles for purchases and balance transfers made within 60 days of account opening (balance transfer fee applies)
  • $0 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 12 billing cycles
0% for 12 billing cycles
13.99% - 23.99% Variable
$0
Good/Excellent
Bank of America® Premium Rewards® Credit Card Review

at the issuer'ssecure website

EXPERT'S RATING

★★★★★
4.8

OVERALL RATING

4.6/5.0
  • Earn 50,000 online bonus points (a $500 value) after you make at least $3,000 in purchases in the first 90 days of account opening
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and 1.5 points for every $1 spent on all other purchases
  • Flexibility to choose how you redeem your points – redeem for cash back as a deposit into Bank of America® checking or savings accounts, for credit to eligible Merrill® accounts including 529 accounts, as a statement credit to your credit card, or for gift cards and purchases at the Bank of America Travel Center
  • Get up to a $100 Airline Incidental Statement Credit annually for qualifying purchases such as seat upgrades, baggage fees, in-flight services, and airline lounge fees - automatically applied to your card statement. Also get up to $100 in Airport Security Statement Credits towards TSA Pre✓ ® or Global Entry Application fees, every four years.
  • No foreign transaction fees
  • $95 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99% - 22.99% Variable
$95
Good/Excellent
Business Advantage Cash Rewards credit card Review

at the issuer'ssecure website

EXPERT'S RATING

★★★★★
4.7

OVERALL RATING

4.6/5.0
  • Get a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening
  • Earn 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services, or business consulting services and 2% cash back on dining on the first $50,000 in combined choice category/dining purchases each year, 1% thereafter
  • Earn unlimited 1% cash back on all other purchases
  • Get 75% more cash back on every purchase when you're a Preferred Rewards for Business Platinum Honors tier member. That means you'll earn 5.25% on your selected choice category, 3.5% on dining, and unlimited 1.75% cash back on all other purchases.
  • 0% on purchases for 9 billing cycles from account opening
  • $0 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 9 billing cycles
N/A
12.24% to 22.24% Variable
$0
Good

The cash advance transaction fee is $10 or 3% to 5% of the amount of each transaction, whichever is greater and depending on the type of advance. For overdraft protection cash advances, the fee is $12 per transaction.

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

Capital One 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.

EXPERT'S RATING

★★★★★
4.9

OVERALL RATING

4.9/5.0
  • Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel
  • Earn unlimited 2X 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
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✔®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 10+ travel loyalty programs
  • No foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.24% - 24.49% (Variable)
$95
Excellent, Good

EXPERT'S RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
  • Earn unlimited 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
  • 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 for 15 months; 15.49% - 25.49% variable APR after that
  • No foreign transaction fee
  • No annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
N/A
15.49% - 25.49% (Variable)
$0
Excellent, Good

EXPERT'S RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • $0 annual fee and no foreign transaction fees
  • Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn unlimited 1.25X miles on every purchase, every day
  • Travel when you want with no blackout dates and fly any airline, stay at any hotel, anytime
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Transfer your miles to over 10+ travel loyalty programs
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 12 months
N/A
15.49% - 25.49% (Variable)
$0
Excellent, Good

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.

EXPERT'S RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. From 6/1/20 through 6/30/21, gas station & grocery store purchases will also count towards earning your Travel Credit
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants including eligible delivery services, takeout and dining out & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • With Pay Yourself Back℠, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
  • 1:1 point transfer to leading airline and hotel loyalty programs
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
16.99%-23.99% Variable
$550
Good/Excellent

EXPERT'S RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99% - 22.99% Variable
$95
Good/Excellent

EXPERT'S RATING

★★★★★
5.0

OVERALL RATING

5.0/5.0
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all other purchases.
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
N/A
14.99% - 23.74% Variable
$0
Good/Excellent

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.

CITI® RATING

★★★★★
4.9

OVERALL RATING

4.8/5.0
  • Earn cash back twice! 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
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% - 23.99%, based on your creditworthiness. Balance Transfers do not earn cash back and will have a fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • 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.
  • 24/7 access to customer service representatives
  • $0 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
0% for 18 months
13.99% - 23.99% Variable
$0
Excellent/Good
Citi Premier® Card Review

at the issuer'ssecure website

CITI® RATING

★★★★★
4.8

OVERALL RATING

4.6/5.0
  • Earn 60,000 Bonus Points after making $4,000 in purchases with your card within the first 3 months of account opening
  • Earn 3X Points at restaurants, supermarkets, gas stations, and on air travel and hotel purchases — all other purchases earn 1X Points
  • Enjoy $100 off a single hotel stay of $500 or more, excluding taxes and fees, through thankyou.com, once per calendar year
  • Transfer ThankYou® Points to participating airline loyalty programs including TrueBlue®, Virgin Atlantic Flying Club, and Singapore Airlines KrisFlyer, to get flights faster. There is no fee, and the minimum transfer is only 1,000 points.
  • $95 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
15.99% - 23.99% Variable
$95
Good/Excellent
Citi Prestige® Credit Card Review

at the issuer'ssecure website

CITI® RATING

★★★★★
4.8

OVERALL RATING

4.8/5.0
  • Earn 50,000 bonus points after spending $4,000 within 3 months of account opening. That's a $500 value in travel, anytime, with no blackout dates when booked through the ThankYou Travel Center!
  • Earn 5X Points at restaurants and on air travel
  • Earn 3X Points on hotels and cruise lines, all other purchases earn 1X Points
  • Complimentary 4th Night at a hotel of your choice after a minimum 4 consecutive night booking through ThankYou.com (benefit can be used 2X per calendar year)
  • Up to a $250 travel credit every calendar year, no need to enroll
  • Enjoy complimentary access to hundreds of VIP lounges through Priority Pass™ Select
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
16.99% - 23.99% Variable
$495
Excellent

The cash advance fee for Citi cards is either $10 or 5% of the amount of each cash advance, whichever is greater. 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).

6. Wells Fargo Cash Advance Limit: 100% of Credit Limit

The highest Wells Fargo overall credit limit, as reported by a City Data reviewer, is $38,000 for the Wells Fargo Platinum Card. The Wells Fargo fine print states that the credit card company might limit the amount available for cash advances to a portion of the overall credit limit.

We interpret that to mean Wells Fargo might not impose a cash advance limit beyond the overall credit limit, hence the 100% figure.

Wells Fargo Propel American Express® Card Review

at the issuer'ssecure website

EXPERT'S RATING

★★★★★
5.0

OVERALL RATING

4.8/5.0
  • Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months – a $200 cash redemption value
  • Earn 3X points on eating out and ordering in; gas stations, rideshares, and transit; flights, hotels, homestays, and car rentals; and popular streaming services - all other purchases earn 1X points
  • Introductory 0% APR offers on purchases and balance transfers for 12 months from account opening (balance transfer fee applies)
  • No limit to points you can earn, and points don't expire as long as your account remains open
  • Cell phone protection helps protect your cell phone from damage or theft
  • $0 annual fee and no foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 12 months
0% for 12 months
14.49% - 24.99% Variable
$0
Good/Excellent
Wells Fargo Cash Wise Visa® Card Review

at the issuer'ssecure website

EXPERT'S RATING

★★★★★
4.7

OVERALL RATING

4.6/5.0
  • Earn a $150 cash rewards bonus when you spend $500 in purchases in the first 3 months
  • Unlimited 1.5% cash back on purchases, and cash rewards do not expire as long as the account is open
  • Introductory 0% APR offer on purchases and balance transfers for 15 months from account opening (balance transfer fee applies)
  • Account protections such as 24/7 Fraud Monitoring, Alerts, and Zero Liability protection for promptly reported unauthorized transactions
  • Cell Phone Protection helps protect your cell phone from damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo consumer credit card
  • $0 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
0% for 15 months
14.49% - 24.99% Variable
$0
Good/Excellent
Wells Fargo Platinum Card Review

at the issuer'ssecure website

EXPERT'S RATING

★★★★★
4.7

OVERALL RATING

4.6/5.0
  • Introductory 0% APR offers for 18 months from account opening on purchases and balance transfers (balance transfer fee applies)
  • Account protection features such as Zero Liability protection for promptly reported unauthorized transactions, alerts, and cell phone protection
  • My Money Map – tools to help you manage spending and create a budget with ease
  • Access to your FICO® Credit Score with Wells Fargo Online®
  • $0 annual fee
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 18 months
0% for 18 months
16.49% - 24.49% Variable
$0
Good

If you want a cash advance from your Wells Fargo credit card, you’ll have to cough up a fee of either $10 or 5% of the amount of each advance, whichever is greater. Cash advances from Wells Fargo ATMs require a PIN and cannot exceed $500/day.

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 (i.e., 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.

How to Make a Cash Advance with a Credit Card

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:

EXCELLENT CREDIT RATING

★★★★★
5.0

OVERALL RATING

5.0/5.0
  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all other purchases.
  • Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
  • No annual fee.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.
  • No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
N/A
14.99% - 23.74% Variable
$0
Good/Excellent

EXCELLENT CREDIT RATING

★★★★★
5.0

OVERALL RATING

4.9/5.0
  • Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel
  • Earn unlimited 2X 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
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✔®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 10+ travel loyalty programs
  • No foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.24% - 24.49% (Variable)
$95
Excellent, Good

EXCELLENT CREDIT RATING

★★★★★
4.9

OVERALL RATING

4.8/5.0
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. From 6/1/20 through 6/30/21, gas station & grocery store purchases will also count towards earning your Travel Credit
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants including eligible delivery services, takeout and dining out & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • With Pay Yourself Back℠, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
  • 1:1 point transfer to leading airline and hotel loyalty programs
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
16.99%-23.99% Variable
$550
Good/Excellent

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.

How to Increase Your Credit Card's Credit Limit

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 a preapproved 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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