What is the best way get cash from a credit card?

I'm wondering - what are the best options to get cash from the credit card?
Expert answer by Alex Gerard,
10+ years experience in banking consulting

Credit cards are great tools to have in case of emergency and need to make a quick purchase. Fortunately, this applies to quick cash as well. For those emergency expenses that require cash, you might consider checking your credit card terms for cash advance details.

If you need cash, you can usually take money off a credit card through it’s cash advance feature. First, make sure your credit card includes this feature. If you aren’t sure, contact your credit card issuer or the card terms you received when you first opened the card account. To withdraw cash, you can sometimes use your credit card at an ATM. You will need to have your PIN in order to get the cash, but you can typically withdraw most of the credit limit that you have available.

With debit card you also have an option to get cash from the cash register in the store while shopping - but it applies only to debit cards.

Some cards will also send you checks that you can use to pay bills or make purchases, which are typically considered cash advances even though you aren’t actually receiving cash.

If you plan on getting cash from a credit card, however, you should be sure you are aware of any extra fees.

Often, cash advance fee is charged on the transaction. Another very important thing to know is that you will not have a typical grace period on cash advance transaction - the interest will start counting right away.

Further, cash advances usually carry higher APRs than regular purchases. If your goal is to earn rewards or cash back or bonuses, most cash advances will not qualify. Because of the limitations and fees that are typically involved with cash advances, it’s important that you examine your card details first. Still, it’s good to know that you have that option if you need it, which could leave you in a bind if you happen to have a credit card without a cash advance option. 

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