Credit Card Cash Advance Calculator
What does a credit card cash advance really cost? Add the cash advance fee, interest from day one at the cash APR (no grace period) and the ATM fee, and see the effective annual cost.
How it works
Fee = max(amount × fee %, minimum fee) · interest = amount × [(1 + APR ÷ 365)ᵈ − 1] (daily compounding, no grace period) · cost = fee + interest + ATM fee · effective annual cost = cost ÷ amount × 365 ÷ days
A cash advance is the most expensive way to use a credit card: there is an upfront fee (typically 3–5% with a minimum), a higher APR than for purchases, and interest starts the day you take the money — the interest-free grace period does not apply. For short periods the fee dominates, which is why the effective annual cost of a two-week advance can exceed 100% even with a 30% APR. Payments above the minimum usually go to the highest-rate balance first in many countries, but not everywhere — check your card’s allocation rules.
Worked example
Taking a 500 cash advance with a 5% fee (minimum 10) at 29.99% APR and repaying it after 30 days costs a 25.00 fee, 12.47 of interest from day one and a 3.00 ATM fee — 40.47 in total, 8.09% of the cash, or an effective annual cost of 98.48%.
Sources: Investopedia — Cash advance · CFPB — Credit cards
Frequently asked questions
Is there a grace period on cash advances?
Almost never. Interest accrues from the transaction date until the advance is paid off, even if you pay your statement in full.
Why is the effective cost so high for a short advance?
The fee is charged once, whatever the time. A 5% fee for one month is already about 60% a year before any interest.
Are casino chips, money transfers or crypto purchases cash advances?
Often yes. Many issuers code gambling, wire transfers, foreign cash and cryptocurrency purchases as cash-like transactions with the same fee and APR.
What are cheaper alternatives?
A debit card withdrawal, a small personal loan or credit-union loan, an overdraft line or a payment plan with the creditor usually cost far less.
Related calculators
Estimates for education and planning, not financial advice. Lenders’ contracts, fees, day-count and rounding rules differ — check the official cost disclosure (APR / TAE / CAT) in your loan or card agreement before deciding.