Yes, you can use a credit card at an ATM. It can be a convenient way to get cash if you need it and are out of options, but it has significant downsides.
Using a credit card to withdraw cash from an ATM means you will be charged a one-off fee — typically a percentage of the amount withdrawn — and interest will immediately begin to accrue at the cash advance rate.
Some credit cards have cheaper cash advances than others. Compare your credit card against others for cash advances.
What credit cards can be used to withdraw cash from an ATM?
Most credit cards can be used at ATMs to withdraw cash, but not every type of card is supported universally.
- Mastercard. Accepted at almost every ATM.
- American Express. Widely accepted at ATMs but less so than Mastercard and Visa.
- Visa. Accepted at almost every ATM.
How much can you withdraw with a cash advance?
Several factors determine how much cash you can withdraw with a credit card: your credit limit, available credit, and daily withdrawal limit.
- Credit limit. This is the maximum amount you can borrow with a credit card. It is not possible to withdraw more than your credit limit.
- Available credit. If your credit limit is $5,000 and you have a $1,000 balance, you have $4,000 available credit. If you do not know how much credit you have available, you can find out by contacting customer service.
- Daily withdrawal limit. Your credit card issuer may limit how much can be withdrawn within 24 hours. This limit may be lower than your available credit. You can find out what yours is by contacting customer service.
How to withdraw cash from an ATM with a credit card
Withdrawing cash from an ATM with a credit card works as it does for a debit card. You will need to enter your credit card into the ATM and follow the instructions on the screen.
- Insert your credit card into the ATM.
- Enter your PIN number. (This is not the same as your CVV number.)
- If asked, choose "Credit" and not "Debit/Transaction".
- Select or enter the amount of cash you want to withdraw.
- Choose whether you want to take a receipt or not.
- Take your cash and credit card from the ATM.
