You can get cash from a Credit One card by taking a cash advance at an ATM, visiting a bank branch for an over-the-counter withdrawal, or using convenience checks if your account includes them. All three methods pull money against your credit line, and all come with fees and higher-than-normal interest charges. Here’s how each option works and what it will cost you.
Set Up Your PIN First
Before you can withdraw cash at an ATM, you need a PIN (Personal Identification Number) linked to your Credit One account. If you never set one up, or if you’ve forgotten it, sign into your online account at creditonebank.com, select the card you want to use, go to Settings, and look for “Change PIN.” Follow the prompts to create a new four-digit PIN. You can also do this through the Credit One mobile app. Once your PIN is active, you’re ready to use any compatible ATM.
How to Withdraw Cash
At an ATM
Insert your Credit One card at any ATM that accepts your card’s network (Visa or Mastercard, depending on your card). Enter your PIN, select “cash advance” or “withdrawal from credit,” and choose the amount. The machine will dispense cash and your account will be charged for the advance plus any applicable fees. Keep in mind that the ATM operator may charge its own surcharge on top of Credit One’s fees.
At a Bank Branch
You can walk into a bank and request a cash advance over the counter. Bring your Credit One card and a valid photo ID. The teller processes the transaction against your credit line. Credit One may charge a service fee for this method, separate from the cash advance fee itself.
Convenience Checks
Some Credit One accounts come with convenience checks that you can write to yourself or to someone else. You deposit or cash the check, and the amount is treated as a cash advance on your credit card. Not every Credit One card offers these, so check your account or call customer service to find out if yours does.
What a Cash Advance Costs
Cash advances from a Credit One card are expensive compared to regular purchases. The costs come from three directions: an upfront fee, a higher interest rate, and no grace period.
Cash advance fee: Credit One charges a percentage of every cash advance, and the exact rate depends on your specific card agreement. Some cards charge $5 or 8% of the advance (whichever is greater), while others charge $10 or 5% (whichever is greater). On a $200 cash advance at the 8% rate, that’s a $16 fee. At the 5% rate with a $10 minimum, it would be $10. You can find your card’s specific fee schedule in your cardholder agreement, available through your online account.
Interest rate: Cash advances on Credit One cards carry the same variable APR as purchases, which is calculated by adding a margin to the U.S. Prime Rate. Based on recent cardholder agreements filed with the Consumer Financial Protection Bureau, the APR can reach as high as 29.90%. Your actual rate depends on your specific card terms and the current Prime Rate.
No grace period: This is the detail that catches most people off guard. With purchases, you typically have until your statement due date to pay the balance before interest kicks in. Cash advances work differently. Credit One begins charging interest from the day the cash advance posts to your account, even if you paid your previous statement balance in full. There is no interest-free window. Every day you carry the balance, the interest compounds.
Your Cash Advance Limit
You can’t withdraw your full credit limit as cash. Credit One sets a separate cash advance limit that’s a portion of your total credit line. This limit varies by account and isn’t always clearly stated on your monthly statement. To find yours, log into your online account or call the number on the back of your card. If you’ve already used part of your credit limit on purchases, your available cash advance amount will be even lower.
A Practical Example of the Total Cost
Say you take a $300 cash advance from a Credit One card that charges 8% per advance (minimum $5) and has a 25.90% APR. Your upfront fee is $24. Interest starts accruing immediately at roughly $0.21 per day. If you take 30 days to pay it back, you’ll owe about $6.30 in interest on top of the $24 fee, making the true cost around $30 for borrowing $300 for one month. That’s effectively a 10% charge for a single month of borrowing.
If you need cash and have other options, such as a debit card withdrawal from your checking account, a personal loan, or even a payment app transfer, those will almost always be cheaper. Cash advances are designed for situations where you genuinely have no alternative and need physical cash quickly.