Cash advances are convenient, but it's important to understand how they work before requesting one.
What is a cash advance?
A cash advance is when you use your credit card to obtain cash, such as from an ATM or bank branch. But there are others types of transactions that are also considered cash advances, such as using your credit card to: transfer money to friends using apps like PayPal, Venmo or Moneygram, pay a debt (such as a car loan) using a third-party bill pay service, buy casino chips or lottery tickets, or exchange dollars for foreign currency.
Know the cost:
Cash advances usually include transaction fees and a higher APR than credit card purchases. With each cash advance, we charge a front-end fee, or service charge, that posts to your account the day of the transaction. Be sure to review your account terms for details.
Things work a little differently when it comes to how payments are applied to cash advances. Check out your account terms so you'll know what to expect.
Know your cash advance limit and available credit for cash advances:
Look at your most recent credit card statement and find your Cash Advance Limit. Keep in mind, sometimes ATMs have additional limits. You also must have sufficient total credit line available to take a cash advance. For example, if you have used all of your available credit for purchases, you cannot take a cash advance, even if you have not used all of your cash advance line.
To get a cash advance at an ATM with your Personal Identification Number (PIN):
- Follow the cash advance instructions displayed on the ATM
- Make sure you understand any fees that the ATM might charge in addition to those outlined in your account terms before completing the transaction
How to get a cash advance if you don’t have your PIN
You can take a cash advance inside a bank lobby that displays the Visa or MasterCard credit card logo. You’ll just need to provide a government issued photo ID like a driver's license along with your Capital One card.
Forgot your PIN? You can request a new one. It usually takes several days for your PIN to arrive in the mail, but you might be eligible to get one instantly by requesting it online.
