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Can You Use an ATM with a Credit Card?
July 1, 2025
Quick Answer
Yes, you can use a credit card at an ATM to withdraw funds, but this is treated as a cash advance and will typically incur steep fees and immediate interest charges.
Should You Use An Atm With A Credit Card?
Using a credit card at an ATM has distinct advantages and significant drawbacks to consider.
Benefits
- Provides immediate access to cash during emergencies or when other funds are unavailable.
- Offers a convenient way to get local currency when traveling internationally.
- Functions as a short-term loan if you need cash before your next paycheck.
Costs
- Incurs a cash advance fee, which is typically a percentage of the amount withdrawn.
- Subject to a high cash advance APR that usually begins accruing interest immediately, with no grace period.
- May include additional fees charged by the ATM operator for the transaction.
- Cash advances do not typically earn rewards points, miles, or cash back.
How to Use An Atm With A Credit Card
Using a credit card at an ATM for a cash advance is a straightforward process, but it's crucial to understand the steps and associated costs before you proceed with the transaction.
- Confirm Card and PIN Readiness: Before visiting an ATM, ensure your credit card is enabled for cash advances and that you have a Personal Identification Number (PIN). If you haven't set one up, you'll need to request it from your card issuer.
- Find a Compatible ATM: Locate an ATM that accepts your card's payment network, such as Visa, Mastercard, or American Express. The network logo is usually visible on both your card and the ATM itself.
- Choose the Right Card: Not all credit cards are ideal for cash advances, as fees and interest rates can vary significantly. Comparing options with a resource like Kudos' explore cards tool can help you find a card that better aligns with your financial needs.
- Complete the Transaction: Insert your card, enter your PIN, and select the option for a cash advance. Input the desired amount, but be mindful of any withdrawal limits imposed by your bank or the ATM operator.
- Understand the Fees: Be aware that cash advances almost always involve upfront fees and start accruing interest immediately, often at a higher rate than standard purchases. Review your card's terms to understand the full cost.
Impact On Your Credit Score
Using your credit card for a cash advance at an ATM can affect your credit score in several ways. Here are a few key factors to keep in mind before you make the transaction.
- Credit Utilization Ratio. A cash advance increases your credit card balance, which can raise your credit utilization ratio. A higher ratio may negatively impact your credit score over time.
- Hard Inquiry. Some credit card issuers may perform a hard inquiry on your credit report for a cash advance. This can cause a temporary dip in your credit score.
- Increased Debt. The cash advance adds to your total debt, which can affect your debt-to-income ratio. Lenders review this ratio when considering you for future credit.
Alternative Ways To Use An Atm
Cardless ATM Access
Many banks now offer cardless access through their mobile banking apps. This feature allows you to generate a secure, one-time code on your smartphone to withdraw cash. At a compatible ATM, you simply enter the code and your PIN, eliminating the need for a physical card. This method enhances security by mitigating the risk of card skimming and offers a convenient solution if you've forgotten your wallet.
Adjusting ATM Preferences
For a more efficient experience, you can often preset your transaction preferences. Many banking apps and ATMs allow you to set a "fast cash" amount for your most common withdrawal, select a default language, and choose your receipt preference (paper or digital). Customizing these settings can significantly reduce the time you spend at the machine, making each visit quicker and more convenient.
Choose the Right Card to Use An Atm
Choosing the right card for ATM withdrawals is important, but it's just one part of a bigger picture. To truly maximize your wallet, you need a card that aligns with all your spending habits and financial goals, whether that means earning travel rewards, securing a low APR, or avoiding annual fees. With nearly 3,000 cards in its database, the Kudos Explore Tool uses AI to do the heavy lifting, helping you find the best card for your specific needs.
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Frequently Asked Questions
What are the fees for a credit card cash advance?
Expect a cash advance fee, often a percentage of the amount, plus a high interest rate that accrues immediately.
Does a cash advance affect my credit score?
It doesn't directly hurt your score, but a high balance can increase your credit utilization ratio, which can lower it.
Are there limits on how much I can withdraw?
Yes, your issuer sets a cash advance limit, which is typically much lower than your total credit line.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
