To get a cash advance on a Chase credit card, you need a PIN and access to an ATM or a Chase bank branch. The process takes just a few minutes, but the costs are steep: a fee of around 5% on every withdrawal plus interest that starts accruing immediately with no grace period. Before you proceed, it’s worth understanding exactly what you’ll pay and whether a cheaper option exists on your account.
Set Up Your PIN First
You cannot withdraw cash from an ATM without a credit card PIN, and Chase does not automatically issue one when you open your account. To request or change a PIN, call Chase at 1-800-297-4970. You can also request one through the Chase mobile app or by visiting a Chase branch. Keep this PIN separate from your debit card PIN if they’re on different numbers, and don’t write it on the card itself.
If you already have a PIN but forgot it, the same phone number works for a reset. Plan ahead if possible, because some PIN requests take a business day or two to activate.
How to Withdraw the Cash
Once your PIN is active, you have two options:
- At an ATM: Insert your Chase credit card, enter your PIN, and select “cash advance” or “credit” (the label varies by machine). Choose the amount you want and complete the transaction. You can use Chase ATMs or any ATM that accepts Visa, though non-Chase ATMs may charge their own surcharge on top of the cash advance fee.
- At a bank branch: Visit a Chase branch with your credit card and a valid photo ID. A teller can process the cash advance for you. This is useful if you need a larger amount that exceeds the ATM’s per-transaction withdrawal limit.
Some credit cards also let you request a cash advance check (sometimes called a convenience check) that Chase mails to you. You write the check to yourself or to someone else, and the amount is charged to your card as a cash advance. These carry the same fees and interest terms.
What a Cash Advance Costs
Cash advances are one of the most expensive ways to borrow money on a credit card. Here’s what you’ll pay:
- Cash advance fee: Chase typically charges 5% of the amount you withdraw. On a $500 cash advance, that’s $25 added to your balance right away.
- Higher APR: The interest rate on cash advances is usually higher than your card’s regular purchase APR. Check your cardmember agreement or latest statement for the exact rate, which is listed separately from your purchase rate.
- No grace period: Unlike purchases, where you can avoid interest by paying your statement balance in full, cash advances start accruing interest the moment the money leaves the ATM. There is no interest-free window.
- ATM surcharges: If you use a non-Chase ATM, the machine’s operator may add a fee of $2 to $5 on top of everything else.
To put this in perspective, if you take a $1,000 cash advance and your cash advance APR is 29.99%, you’ll owe $50 in upfront fees plus roughly $25 in interest during the first month alone. The longer that balance sits unpaid, the more it compounds.
Your Cash Advance Limit
Your cash advance limit is not the same as your total credit limit. It’s a smaller subset, and Chase sets it based on your creditworthiness and account history. You can find your specific cash advance limit by logging into the Chase app or website and checking your account details, or by looking at your monthly statement where both limits are printed.
ATMs also impose their own per-transaction and daily withdrawal caps, which may be lower than your card’s cash advance limit. If you need more than an ATM allows in a single transaction, you may need to do multiple withdrawals or visit a branch.
A Cheaper Alternative: My Chase Loan
If you have a Chase credit card and need cash deposited into your bank account, check whether you’re eligible for My Chase Loan before taking a cash advance. This feature lets you borrow against your credit limit and receive the funds as a direct deposit, but it works more like a personal loan than a cash advance.
The key differences make it significantly cheaper. My Chase Loan charges a fixed APR that’s typically lower than your card’s standard purchase rate, and far lower than cash advance rates. You repay the balance over a set period of six to 24 months, with the monthly payment built into your regular credit card bill. There’s no separate application or hard credit check required.
The minimum you can borrow is $500, and the maximum depends on your spending history and credit profile. Not every cardholder sees this option, as Chase extends it selectively. Look for it in the Chase app under your account’s “things you can do” section. If it’s available, it will save you a meaningful amount compared to a traditional cash advance.
How Payments Are Applied
When you carry both a purchase balance and a cash advance balance on the same card, your minimum payment gets applied to the lowest-rate balance first (usually purchases). Any amount you pay above the minimum goes toward the highest-rate balance. Because cash advances carry a higher rate, paying only the minimum each month means the expensive cash advance balance lingers longest. To minimize interest charges, pay as much above the minimum as you can, as quickly as you can.
If you took a cash advance for a short-term need, prioritize paying it off within the same billing cycle. Even a few weeks of interest at cash advance rates adds up fast, and unlike purchases, there’s no way to avoid that interest entirely.