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Capital One Cash Advances: What They Are and Why to Avoid Them

4 min read
By Ellen Sirull Feb 27, 2020 | Updated Sep 22, 2020

A Capital One cash advance, like cash advances from other card issuers, is one way to get immediate funds from an ATM with your credit card using your PIN.

It’s essentially like getting a cash loan from your credit card issuer. However, these are far from ideal because of the high fees and interest rates you’ll pay.

Before considering a cash advance, you should familiarize yourself with all of the details and any other options you may have to get money. Ultimately, a Capital One cash advance (or any cash advance) should only be used as a last resort.

Most credit card companies, like American Express, Bank of America, Chase, and Citi also offer cards with cash advances.

How to Get a Capital One Cash Advance

If you do need to get a cash advance with your Capital One card, you’ll need to know the basics of how to get it, where you can get it, and what you’ll pay for it.

How to Get Cash

You’ll be able to use your Capital One credit card to get a cash advance at any ATM, though you may have to pay extra fees depending on the ATM you use (see our section on fees below). To avoid additional ATM fees, you can find Capital One ATMs here.

When getting cash from your credit card at an ATM, you’ll basically go through the same process as using a debit card to withdraw from a checking account:

  1. Insert your credit card.
  2. Enter your credit card’s PIN (personal identification number).
  3. Select “credit card” or “credit” as the option to withdraw from on the screen.
  4. Confirm you agree to any ATM fees outlined (if applicable).
  5. Collect and confirm the amount of cash received from the dispenser.
  6. Finalize the transaction on the screen and save your receipt. Make sure you take your card, too.

Your Credit Card PIN

You’ll need to know your card’s PIN, just like for an ATM card or debit card. When you first get a Capital One card, you’re usually given the option of selecting your own PIN, receiving a system-generated PIN, or declining a PIN.

If you’ve forgotten your PIN or don’t have one yet, you can get one online:

  1. Sign in to your online Capital One account.
  2. Click “More Account Settings,” then select “Control Your Card” and follow the directions under “Get a Cash Advance.”
  3. You may be eligible to get a code by email or text to let you select a custom PIN to use immediately. Otherwise, the PIN will arrive by mail in approximately 7 to 10 business days.

You can also get a PIN by calling Capital One’s support phone number:

  1. Call 1-800-227-4825.
  2. Follow the directions from its automated system. It will let you request a PIN that will arrive in 7 to 10 days by mail. If you know your current PIN, you can simply update it on the phone.
Quick Guide

How to get a cash advance if you don’t know your PIN

If you don’t know your PIN or haven't set one up and need to get money immediately, you can still obtain a cash advance by going in person to a bank lobby that displays the Visa or Mastercard credit card logo (your card has to match). You’ll just need to provide a government-issued photo ID like a driver's license along with your Capital One card.

Cash Advance Limits

You’ll need to know how much money you can withdraw. Like your purchase credit limit, your Capital One cash advance limit will depend on various factors based on what the issuer believes you can pay back (e.g. your income, credit utilization, and payment history) and it’s often lower than your card’s overall credit limit.

You may have a daily cash advance limit along with that, and some ATMs may have their own limits as well.

What Does a Capital One Cash Advance Cost?

You’ll want to understand all fees and interest rates so you know the full cost of your Capital One cash advance.

Capital One Cash Advance Fees

Most cards, including Capital One credit cards, have cash advance fees. For Capital One cards the cash advance fee is typically 3%, with a $10 minimum.

You may incur ATM fees, too. If you use an ATM outside of Capital One’s network, including generic ATMs like MoneyPass and Cardtronics, you’ll likely pay fees in addition to those outlined in your account terms. Usually, ATM surcharges are between $2–$5 if you’re not an account holder with the financial institution that manages the ATM.

Capital One Cash Advance Interest Rates

With a Capital One cash advance (or a cash advance from any credit card issuer) you’ll usually pay a higher interest rate than regular purchases. The interest charges for a cash advance also begin accumulating immediately, unlike your regular card purchases which usually have a grace period of approximately 25 days.

For comparison, here are some of the interest rates you’ll pay for a cash advance and a purchase with some popular Capital One cards.

Card Cash Advance APR Purchase APR
Capital One Savor Cash Rewards Credit Card (Review) 24.99% Variable 15.99% - 24.99% Variable
Capital One Quicksilver Cash Rewards Credit Card (Review) 25.49% (Variable) 15.49% - 25.49% (Variable)
Capital One Venture Rewards Credit Card (Review) 24.49% (Variable) 17.24% - 24.49% (Variable)
Capital One VentureOne Rewards Credit Card (Review) 25.49% (Variable) 15.49% - 25.49% (Variable)

Note: Interest rates are subject to change and may vary based on your specific terms and credit approval.

Insider tip

If you end up getting a cash advance, try to pay it off as soon as possible to minimize the interest charges that will accrue every day.

Other Ways to Get Cash With a Credit Card

There are a few other ways to get cash using a card, including:

  • Use a Discover credit card’s cash over option. This is a fee-free benefit to get cash at a variety of retailers, which works just like getting cash back with a debit card while checking out at a retailer. Learn more about the Discover cash over program.
  • Get a bank balance transfer with a 0% APR card. To go this route, you first need to have a credit card with a 0% balance transfer APR offer that allows you to transfer funds to your bank account (not all do). Then, you request a balance transfer and have your card issuer send the cash directly to your bank account.

Learn more about bank balance transfers along with other alternatives to getting a cash advance.

The Best Capital One Cards

Even if you’re not trying to get a cash advance, here are some of the best Capital One cards you may want to add to your wallet:

Best for Dining

Capital One Savor Cash Rewards Credit Card

Our rating
Min. credit levelGood
Details
Annual Fee$95
Regular APR15.99% - 24.99% Variable
Apply Now

securely on the issuer's website

The information related to Capital One Savor Cash Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Best With No Annual Fee

Capital One VentureOne Rewards Credit Card

Our rating
Min. credit levelGood
Details
Annual Fee$0
Regular APR15.49% - 25.49% (Variable)

The information related to Capital One VentureOne Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Best for Travel

Capital One Venture Rewards Credit Card

Our rating
Min. credit levelGood
Details
Annual Fee$95
Regular APR17.24% - 24.49% (Variable)

The information related to Capital One Venture Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

Best 0% APR Card

Capital One Quicksilver Cash Rewards Credit Card

Our rating
Min. credit levelGood
Details
Annual Fee$0
Regular APR15.49% - 25.49% (Variable)

The information related to Capital One Quicksilver Cash Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.

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At a glance

You can get a Capital One cash advance from an ATM or bank, but they come with high fees and interest charges that accrue immediately, usually at a higher rate than your card’s regular APR. Before getting a cash advance, consider if the fees and terms are worth it compared to other ways to get cash.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.

The information related to Capital One Savor Cash Rewards Credit Card, Capital One VentureOne Rewards Credit Card, Capital One Venture Rewards Credit Card, and Capital One Quicksilver Cash Rewards Credit Card have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.

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