 TITLE: What Is a Cash Advance and How Does It Work? CONTENT: Most credit cards let you borrow a set amount of cash as an advance that you pay back with interest. Generally, you can only borrow up to your card's cash advance limit and not your full credit limit. To find your cash advance limit, check your credit card statement or contact the credit card company.\nWhen you take a cash advance, it gets added to your credit card balance and accrues interest until it's repaid just like purchases and balance transfers do. The annual percentage rate (APR) you're charged for a cash advance may not be the same as your APR for purchases, and you can find it on your credit card agreement or by contacting your card issuer. Unlike purchases, there's no grace period on cash advances—they begin accruing interest as soon as you borrow the money.\nThere are several ways to get a cash advance:\n*   **In person**: Take the credit card to your bank or credit union to request a cash advance. In addition to any fees and interest your credit card company charges, the bank or credit union may charge a separate fee.\n*   **At the ATM**: If you have a credit card PIN, you can visit an ATM and enter your PIN to withdraw cash. ATMs generally restrict how much money you can withdraw per day, so this only works if the amount you need is under that limit. If you don't have a credit card PIN, contact the credit card company to request one. Some card issuers will text or email you a new PIN to use right away, but most send your PIN by mail, which can take three to 10 business days.\n*   **Online**: If you have an account with the bank that issued the credit card, you may be able use the bank's website or mobile app to request a cash advance transferred into your account.\n*   **Convenience checks**: Some credit card issuers provide convenience checks you can use for cash advances. Make out the check for the amount you want and cash or deposit it at your bank or credit union. END