Credit Cards With No Cash Advance Fee
Most cards charge an upfront fee on advances and immediately assess steep interest. But you can find some that have no fee.
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When you're in a tight circumstance, a cash advance on your credit card can be a helpful (if costly) way to get fast cash. But this is usually an expensive proposition, for three reasons:
Cash advance fees. These may be a flat fee of around $5 or $10 per cash advance, or as much as 5% of the amount advanced. Sometimes it's a percentage with a minimum dollar amount — such as 3% or $10, whichever is greater.
ATM or bank fees. These are imposed by the financial institution that handles the transaction — the owner of the ATM or the bank where you get your advance.
Interest. Some credit cards charge a higher interest rate for cash advances than they do for purchases, but there are some exceptions that keep it the same. Regardless of the rate, there’s no grace period, meaning interest begins to accrue the moment you get that cash. This makes a cash advance more expensive over time.
There aren’t many credit cards that don't charge cash advance fees, but they do exist. Typically, they're cards from credit unions or, occasionally, newer financial technology companies.
If you need an advance, a card with these features will certainly be a better deal — but remember, this is typically a method of last resort. Before you take your credit card to an ATM, consider alternatives to cash advances, like cards with low interest or 0% APR promotional offers, cards that offer the ability to convert purchases to monthly installment plans, personal loans or money borrowing apps. Weigh the costs and compare them to a credit card’s fees and APR to determine which saves the most money.
Here are a few options for credit cards with no cash advance fee.
Credit cards with no cash advance fee
» MORE: Are cash advances a good idea?
PenFed Platinum Rewards Visa Signature® Card
The PenFed Platinum Rewards Visa Signature® Card does not charge a cash advance fee, but it will charge the card’s highest interest rate. Otherwise, the $0-annual-fee card boasts a sign-up bonus and impressive ongoing rewards:
5 points per $1 on gas at the pump and electric vehicle charging stations.
3 points per $1 spent on supermarket purchases, restaurants and dining, plus TV, radio, cable and streaming services.
1 point per $1 on all other purchases.
There are a few drawbacks. Points are redeemable for travel, gift cards and merchandise, but not cash back. The card requires excellent credit to qualify. Also, you must join PenFed to be eligible for the PenFed Platinum Rewards Visa Signature® Card, which isn’t difficult but does present an extra hurdle. To join, you can open a PenFed savings account with a $5 minimum deposit.
Credit cards from federal credit unions have interest rates that are capped at 18%. That rate can still add up quickly, but it's significantly lower than you'll find on some cards that charge a cash advance interest rate in the 30% range.
PenFed Pathfinder® Rewards Visa Signature® Card
The PenFed Pathfinder® Rewards Visa Signature® Card doesn’t charge a cash advance fee, but it does charge a cash advance interest rate. Unlike with other credit cards, this interest rate does not exceed the one charged for purchases.
The card has a $95 annual fee that can be offset with the card’s ongoing perks and rewards. (The annual fee itself is avoidable if you meet certain criteria). The card offers:
3 points per $1 spent on all travel categories. (4 points for PenFed Honors Advantage Members.)
1.5 points per $1 on all other purchases.
A $120 credit toward the application fee for Global Entry. or $85 for TSA PreCheck.
A credit of up to $100 for domestic ancillary travel fees.
A Priority Pass airport lounge membership. (Lounge fees apply.)
To be eligible to earn the higher rate as an Honors Advantage member, you must have a qualified Access America or Free Checking account, or have current or previous military service. Points are redeemable for travel, gift cards and merchandise, but not cash back. You must join PenFed to be eligible for this card.
PenFed Power Cash Rewards Visa Signature® Card
The PenFed Power Cash Rewards Visa Signature® Card charges a cash advance interest rate that starts accruing immediately, but it doesn't charge a cash advance fee. That interest rate is on the lower end compared to other credit cards, but it can still add up quickly.
The $0-annual-fee card offers simple rewards of 1.5% cash back on all purchases, or 2% cash back on all purchases for Honors Advantage Members.
Cash back redeems as statement credit to the account, a transfer into an eligible PenFed checking or share (savings) account, or a transfer into an account at another institution. Joining the credit union is required to qualify for this card.
PenFed Gold Visa® Card
The PenFed Gold Visa® Card doesn’t earn rewards, but it does offer a low introductory interest rate for purchases or balance transfers to pay down debt. You'll get a 0% introductory APR for 15 months on balance transfers made in the first 90 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%.
There is no cash advance fee, but there is a cash advance interest rate that will apply, and it won’t be eligible for the introductory offer.
To qualify for the card, you’ll have to become a member of the credit union.
Navy Federal Go Rewards Card
The Navy Federal Go Rewards Card doesn't charge cash advance fees as long as the advance is done at a Navy Federal branch or ATM. It does, however, charge a cash advance APR. The card has a $0 annual fee and an introductory low-interest offer for purchases. It also earns rewards:
3 points per dollar spent at restaurants.
2 points per dollar spent on gas.
1 point per dollar on all other spending.
Redeem points for cash, travel, gift cards and merchandise. Membership is required if you want this card, and it’s not as easy to join this credit union. To become a member, you must be a current or former member of the military, current or former employee of the Department of Defense or DOD contractor, or an immediate family member of someone who can meet one of those requirements.
Navy Federal Credit Union® More Rewards American Express® Credit Card
As with the Go Rewards card, the Navy Federal Credit Union® More Rewards American Express® Credit Card won't charge a cash advance fee at a Navy Federal branch or ATM but, again, there will be a cash advance APR. There's a $0 annual fee, and the card earns rewards on everyday purchases:
3 points per dollar spent at restaurants and on food delivery.
3 points per dollar spent at supermarkets.
3 points per dollar spent on gas and transit.
1 point per dollar on all other spending.
It also comes with an introductory sign-up offer. Points can be redeemed for cash, travel, gift cards and merchandise. You'll have to become a credit union member to qualify for the card.
Navy Federal Credit Union® cashRewards Credit Card
With the Navy Federal Credit Union® cashRewards Credit Card, a cash advance APR is charged, and you might have to pay ATM fees for withdrawals made outside of Navy Federal branches or ATMs. It has a $0 annual fee and earns 1.5% cash back per dollar spent on all eligible purchases.
If you get approved for a credit limit of $5,000 or more, you'll get bumped up to the "plus" version of this card, which earns 2% cash back on all eligible purchases.
New cardholders get an introductory bonus, too. Joining the credit union is required to get the card.
DCU Visa® Platinum Secured Credit Card
The DCU Visa® Platinum Secured Credit Card has no cash advance fee and maintains the same APR on cash advances as it does for purchases. (The ongoing APR is 15.25%, Variable.) As a secured credit card, this is an option for applicants who are looking to build their credit. It charges a $0 annual fee, but offers no ongoing rewards and requires a $500 minimum security deposit, which is high compared to other secured credit cards.
If you can qualify for the unsecured DCU Visa Platinum Credit Card, it's possible to avoid the deposit and cash advance fees. You might also qualify for a lower interest rate.
Membership is required to qualify, but this credit union makes it possible for anyone to join through an existing affiliation or a one-time donation (as low as $10) to a select organization.
» MORE: 19 ways to find fast cash
Prosper® Card
The Prosper® Card is an unsecured credit card for those who are building credit. It has an annual fee, but the card can be used at ATMs wherever Mastercard is accepted, and Prosper doesn't charge an ATM fee. However, you may be subject to fees from the ATM’s owner, and you’ll be charged the card’s highest interest rate.
There is no sign-up bonus or ongoing rewards, but Prosper will automatically review your account every three months to see if you qualify for a credit limit increase.
Chime Card™
The Chime Card™ is another option for credit builders, and it functions differently from conventional credit cards. Instead of a security deposit, you use the card in tandem with a Chime Checking Account.
From there, you move money from the checking account to your secured deposit account, which essentially allows you to create a budget for your credit card spending. When the bill is due, you’ll have payment options that include turning on Safer Credit Building to have funds withdrawn from the secured deposit account or paying manually. The card charges no interest because it makes it impossible to spend more than the amount you moved into the account.
You can use your Chime Card™ at any ATM without paying interest. If you use an in-network ATM, you won’t be charged fees, either. You can find in-network ATMs in your area in the Chime app.
The Chime Checking Account and the Chime Card™ also have additional options when you’re short on cash. The MyPay option, available in certain states, allows you to get up to $500 of your pay any day within 24 hours or less for free when you set up qualifying direct deposits. You can request a fee-free MyPay advance from the Chime mobile app and have the money transferred to the checking account or the credit card account. (Instant advances will require a fee.) The SpotMe feature can also offer access to cash. It isn't an advance, but it offers a fee-free overdraft of up to $200 on debit card purchases, Credit Builder transactions and cash withdrawals.
Alternatives to cash advances
Current Build Card
The Current Build Card doesn’t offer a traditional cash advance option, but it may make you eligible for a paycheck advance, which is not a loan or credit. It’s a separate service provided by Current that lets you get an advance on your next paycheck before you receive it. If you're eligible, you can access up to $750. Since you already have a Current account with the Current Build Card, the paycheck advance is deposited into that account fee-free within three business days, or instantly for a fee. Once your paycheck is deposited into your Current account or connected account, the money is automatically withdrawn to cover the paycheck advance.
You’ll need to set up eligible payroll deposits into your Current account or an external bank account linked through Current to qualify and receive the funds. You may also have to meet other requirements. To know if you’re eligible, log in to the Current app and tap the “services” tab to select the paycheck advance option.
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