How much can you withdraw?

The amount of cash you can withdraw from your credit card, also known as a cash advance, will depend on:

  • Your total credit limit: This is the maximum amount you can use on your credit card. You can find this on your credit card statement.

  • How much of your limit you have left to use: The amount you have left to spend on your credit card can affect the amount you can withdraw from your credit card.

  • Your credit card's cash advance limit: Most providers set a maximum percentage of your credit limit that you can withdraw from, like 90%.

Ask your credit card provider what limit there is when withdrawing from your card, and what the charges are before making a cash withdrawal.

Where can you withdraw cash?

You can get cash out on most credit cards in the following ways:

  • Using a cash machine

  • At your provider's branch with ID, e.g. passport

  • Cashback when you pay with your card in a shop

There are also card transactions which are treated as cash advances, even though you don't withdraw any physical cash. These include:

  • Making a mortgage payment

  • Paying a utility bill

  • Buying travel money and travellers' cheques

  • Buying gift vouchers

  • Betting or gambling (including lottery tickets and most transactions in a casino)

A withdrawal on your credit card leaves a mark on your credit record, which could impact any credit applications you make.

What do you get charged?

Each time you make a cash withdrawal from your credit card, there are two charges you'll face:

  • Daily interest: You will be charged interest on the amount you withdraw from the day you take it out until you pay off the balance.

  • Cash advance fee: This is usually a percentage of the amount you withdraw, or a fixed fee, depending on what you withdraw.

For example, a credit card may charge 3% or 10, whichever is higher. In this case, a 100 withdrawal would cost you 10, and a 1,000 withdrawal would cost you 30.

These charges differ to standard credit card purchases, which can give you up to a 28 day grace period before you start paying interest.