Chase offers cash advances through credit cards and some checking accounts, but the terms and costs differ by product

If you have a Chase credit card, you can withdraw cash using that card at an ATM or by asking a teller at any bank. If you have a Chase checking account, you can withdraw cash for free at Chase ATMs and branches. The difference matters because a credit card cash advance charges interest and fees that a regular ATM withdrawal does not.

A cash advance means borrowing money against your credit card's available credit. You pay interest on that borrowed money from the day you take it out — there is no grace period like there is for purchases. You also pay an upfront fee, usually a percentage of the amount you withdraw.

This guide explains how each method works, what it costs, and when you might use one instead of the other.

Key Takeaways

  • Chase credit card cash advances charge an upfront fee (usually 3 to 5 percent of the amount) plus daily interest that starts when ready.
  • You can take a cash advance at a Chase ATM, at a non-Chase ATM (with a higher fee), or by visiting a bank teller with your card.
  • The interest rate on a cash advance is usually higher than the rate on purchases made with the same card.
  • If you have a Chase checking account, you can withdraw cash for free at Chase ATMs and branches without paying any advance fees or interest.
  • Some Chase checking accounts come with overdraft protection that lets you borrow small amounts without a separate cash advance, though this also charges fees.

Cash advances on Chase credit cards

When you take a cash advance on a Chase credit card, you are borrowing against your credit limit. The moment you withdraw the cash, you owe interest on it. Chase charges a cash advance fee upfront — this is a percentage of the amount you withdraw, typically between 3 and 5 percent depending on your card. A $200 advance might cost you $6 to $10 just to take it out.

The interest rate on a cash advance is separate from the rate on purchases. Your purchase APR might be 18 percent, but your cash advance APR could be 24 percent or higher. This rate applies from day one, with no grace period. If you carry the advance for a month, you will owe interest for that full month.

You can take a cash advance in three ways: at a Chase ATM using your credit card, at a non-Chase ATM (which adds an extra fee on top of Chase's fee), or by visiting a Chase branch and asking a teller to withdraw cash against your card. The branch method is the safest if you are not sure whether your card will work at an ATM.

Where to withdraw a cash advance from your Chase card

Chase ATMs are the cheapest option if you are taking a cash advance. You will pay only Chase's cash advance fee — no additional ATM fee. You can find Chase ATMs at any Chase branch or at many grocery stores and retail locations that have Chase ATMs inside.

Non-Chase ATMs charge you twice: once for the cash advance fee from Chase, and again for the ATM operator's fee (often $2 to $3). This can add up quickly. If you take a $100 advance at a non-Chase ATM, you might pay $5 for Chase's fee plus $3 for the ATM operator's fee, leaving you with only $92 in cash.

Visiting a Chase branch and asking a teller is always free of extra ATM fees. The teller will process the cash advance using your card, and you will pay only Chase's standard cash advance fee. This is a good option if you are unsure whether your card will work at an ATM, or if you need help with the transaction.

How much interest you will pay on a cash advance

Interest on a cash advance is calculated daily. If your cash advance APR is 24 percent, that means you pay roughly 0.066 percent per day (24 divided by 365). On a $500 advance, that is about 33 cents per day, or roughly $10 per month if you do not pay it back.

The longer you carry the advance, the more interest adds up. A $500 advance at 24 percent APR costs you about $10 in interest for the first month, $20 for the second month, and so on. This is why paying back a cash advance quickly matters — even a few weeks of interest can add hundreds of dollars to a large advance.

Chase applies your payments to the lowest-interest debt first. If you have both purchases and a cash advance on your card, your payment goes toward the purchase balance before the cash advance balance. This means the cash advance sits there accruing interest while you pay off cheaper debt. You can call Chase and ask them to explore your payment to the cash advance instead, but you have to do this each time you pay.

Cash advances versus overdraft protection on checking accounts

If you have a Chase checking account, you have another option: overdraft protection. This lets you overdraw your account by a small amount (usually $100 to $500) without the transaction being rejected. Chase charges an overdraft fee each time you go negative, typically $35 per overdraft.

Overdraft protection is not free, but it can be cheaper than a credit card cash advance for small amounts. If you need $100 and you overdraft your checking account, you pay one $35 fee. If you take a $100 cash advance on a credit card, you pay a $3 to $5 upfront fee plus interest that starts when ready. For a small, short-term need, overdraft might cost less.

However, overdraft protection can lead to repeated fees if you are not careful. If you overdraft multiple times in a month, the fees add up fast. Many people find it easier to avoid overdrafts altogether by keeping a small buffer in their checking account.

When a cash advance makes sense

A cash advance is useful when you need physical cash and have no other way to get it. Some situations where this happens: paying a contractor who only takes cash, replacing a lost wallet, or covering an emergency expense at a business that does not take cards.

A cash advance is usually not the right choice for everyday spending or for amounts you cannot pay back within a few weeks. The fees and interest add up too quickly. If you need cash regularly, it is cheaper to withdraw from your checking account at a Chase ATM, or to ask for cash back when you make a debit card purchase at a store.

If you are considering a cash advance because you do not have enough money in your checking account, pause and think about whether you can wait a few days for a transfer or deposit. A cash advance should be a last resort, not a regular way to access money.

How to avoid cash advance fees and interest

The simplest way to avoid cash advance fees is to use your checking account instead. If you have a Chase checking account, you can withdraw cash for free at any Chase ATM or branch. There are no fees, no interest, and no limits beyond your account balance.

If you must use a credit card to get cash, pay it back as soon as possible. Every day you carry the balance, interest accrues. If you can pay back the full amount within a few days, the interest cost will be small. If you are going to carry it for weeks or months, the interest will exceed the upfront fee.

Some Chase credit cards offer benefits that reduce cash advance costs — for example, a lower cash advance fee or a promotional period with no interest. Check your card's terms to see if yours has any of these offers. You can also call Chase and ask whether your card qualifies for any fee reductions.

Frequently Asked Questions

Can I take a cash advance on a Chase debit card?

No. Debit cards draw from your checking account balance, so there is no credit to advance. If you need cash, use your debit card at a Chase ATM or ask a teller at any bank to withdraw from your account. Both are free.

What is the maximum cash advance I can take?

Your cash advance limit is usually lower than your full credit limit — often 20 to 50 percent of it. Chase sets this limit based on your account history and creditworthiness. You can call Chase to ask what your cash advance limit is, or check your online account.

Does a cash advance hurt my credit score?

A cash advance itself does not hurt your score, but carrying a high balance does. If you take a large advance and do not pay it back quickly, your credit utilization goes up, which can lower your score. Paying it back fast keeps this from happening.

Can I take a cash advance at a non-Chase bank?

Yes, but it costs more. You will pay Chase's cash advance fee plus the other bank's ATM fee. A Chase branch or Chase ATM is always cheaper. If you are traveling and cannot find a Chase ATM, the extra fee might be worth it for convenience.

What happens if I cannot pay back a cash advance?

The balance stays on your credit card and interest keeps accruing. If you do not pay for several months, Chase may report it to credit bureaus, which damages your credit score. If you are struggling to pay back a cash advance, contact Chase to discuss payment options or a hardship plan.