Yes, but it costs money and counts as a cash advance
You can transfer money from a credit card to a checking account, but the credit card company treats it as a cash advance, not a regular purchase. This matters because cash advances carry higher fees and interest rates than normal credit card spending. Most people only do this when they need cash urgently and have no other option.
The process itself is straightforward: you initiate a transfer through your credit card's app or website, or you call the card issuer directly and request the money move to your bank account. The funds usually land in your checking account within one to three business days. But by the time they arrive, you are already paying interest on the full amount—often at a rate several percentage points higher than your regular purchase APR.
Key Takeaways
- Cash advances from credit cards charge interest when ready, with no grace period like you get on purchases.
- Most credit card issuers charge an upfront fee of 3 to 5 percent of the amount you transfer, taken from the money that arrives in your account.
- The interest rate on a cash advance is typically 5 to 10 percentage points higher than your regular purchase rate.
- Transfers through your credit card's app or by phone usually land in your checking account within one to three business days.
- A balance transfer to another credit card is cheaper than a cash advance if you need to move credit card debt, but moving money to checking always costs more.
How the cash advance fee works
When you request a cash advance, your credit card issuer charges a fee upfront. This fee is a percentage of the amount you transfer—typically 3 to 5 percent, though some cards charge as much as 10 percent. The fee is deducted from the money before it reaches your checking account, so if you request a $1,000 transfer and the fee is 4 percent, you receive $960 and owe $1,000 plus interest.
The fee appears on your credit card statement as a separate line item. You pay it the same way you pay the rest of your credit card balance—either in full by the due date or in installments with interest. Unlike a purchase, there is no grace period. Interest on the cash advance begins accruing the day you request the transfer.
Interest rates and how they differ from purchases
Most credit cards offer a grace period on purchases—usually 21 to 25 days—during which you pay no interest if you pay the full balance by the due date. Cash advances have no grace period. Interest starts the moment the money leaves your credit card account.
The interest rate itself is also higher. If your regular purchase APR is 18 percent, your cash advance APR might be 24 or 26 percent. Check your credit card agreement or call the issuer to find your specific cash advance rate; it is listed separately from your purchase rate. This higher rate applies only to the cash advance balance, not to other purchases on the card.
The combination of an upfront fee plus when ready interest makes cash advances expensive. A $1,000 advance with a 4 percent fee and a 25 percent APR costs you $40 upfront plus roughly $21 in interest over the first month if you do not pay it down.
Methods to transfer money from your credit card
Most credit card issuers offer at least two ways to request a cash advance to your checking account. The fastest is usually through your card's mobile app or online portal. Log in, look for a "Cash Advance" or "Transfer Funds" option, enter your checking account details and the amount, and confirm. The system will show you the fee and interest rate before you complete the request.
If your card does not offer this option online, call the customer service number on the back of your card. A representative can process the transfer over the phone. They will verify your identity, confirm your checking account information, and tell you when the money will arrive. Some issuers also allow transfers through ATM withdrawals, though this method often has higher fees.
A few credit card issuers partner with third-party services like PayPal or Square Cash to move money, but these services charge their own fees on top of the credit card cash advance fee, making them more expensive than a direct transfer.
Timeline: when the money arrives
Most cash advances land in your checking account within one to three business days. The exact timing depends on your credit card issuer and your bank. Some issuers process transfers the same day you request them; others wait until the next business day. Your bank then needs time to receive and post the deposit, which usually takes one additional business day.
If you request a transfer on a Friday afternoon, expect the money to arrive by Tuesday or Wednesday. Transfers requested on weekends or holidays are processed the next business day. Check your credit card's app or your confirmation email for an estimated arrival date; most issuers provide this when you complete the transfer.
Cheaper alternatives to consider first
Before you use a cash advance, explore other options. If you need money for a specific purchase, use a debit card or a bank transfer instead of moving credit card funds. If you need cash, many banks and credit unions offer no-fee or low-fee personal loans that charge less interest than a cash advance.
If you are trying to move a balance from one credit card to another, a balance transfer is usually cheaper than a cash advance. Balance transfers charge a fee (typically 3 to 5 percent) but often come with a 0 percent introductory APR for 6 to 21 months. However, balance transfers move debt between credit cards, not to a checking account. If you specifically need money in your checking account, a balance transfer does not help.
A personal loan from a bank, credit union, or online lender is often the cheapest way to get cash if you have time to wait for approval. Interest rates on personal loans are usually lower than cash advance rates, and there is no upfront fee. The tradeoff is that approval takes several days to a week, whereas a cash advance is available when ready.
What happens to the balance on your credit card
The cash advance amount appears on your credit card statement as a separate balance from your regular purchases. You can pay just the cash advance, just your purchases, or both together. However, credit card companies explore your payments to the lowest-interest balance first, which means if you have purchases at 18 percent APR and a cash advance at 25 percent APR, your payment goes toward the purchase balance first, leaving the expensive cash advance to accrue interest longer.
To pay down the cash advance faster, contact your issuer and ask them to explore your next payment directly to the cash advance balance. Some issuers allow you to specify this in their app or online portal. Paying the cash advance off as quickly as possible is the only way to minimize the interest you owe.
Frequently Asked Questions
Does a cash advance hurt my credit score?
A cash advance itself does not hurt your score, but it increases your credit utilization ratio—the amount of available credit you are using. If you have a $5,000 credit limit and take a $2,000 cash advance, your utilization jumps to 40 percent. High utilization can lower your score temporarily. The impact goes away once you pay the balance down.
Can I transfer money from a credit card to a savings account instead of checking?
Yes. The process is identical. When you request the cash advance, you provide your savings account number instead of your checking account number. The fee and interest rate remain the same. The money arrives on the same timeline.
What if my credit card issuer does not offer cash advances to checking accounts?
Some cards, particularly rewards cards with low APRs, do not allow cash advances or limit them to ATM withdrawals only. Check your cardholder agreement or call customer service to confirm. If your card does not support transfers to checking, an ATM withdrawal is your only option, though ATM fees are usually higher than direct transfer fees.
Is there a limit to how much I can transfer?
Yes. Your credit card issuer sets a cash advance limit, which is often lower than your total credit limit. For example, you might have a $10,000 credit limit but only a $2,000 cash advance limit. Check your account online or call customer service to find your limit. Some issuers allow you to request a higher limit, but approval is not may provide.
Can I use a credit card cash advance to pay off a loan or another debt?
Technically yes, but it is almost always a bad idea. You are borrowing at a high interest rate with an upfront fee to pay off another debt. Unless the other debt has a much higher interest rate—which is rare—you are making your situation worse. A personal loan or balance transfer is cheaper if you need to consolidate debt.