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Is it possible to withdraw cash from my credit card without a PIN? Can you really get cash advances from your credit card?
Yeah, you bet! You have several different options to get cash advances without a PIN.
Before we dive in, we do want you to think about using alternate means. Cash advances have high APRs and if you’re not careful, you can find yourself in financial turmoil quickly.
It’s a serious thing and we just want you to be mindful of that. With that being said, let’s get going.
One of the ways to get a cash advance is with a PIN. For most credit cards, you’ll have to request this PIN.
However, you won’t be able to do it over the phone or online. The only way you’ll get a PIN is through the mail, which can take 7-10 business days for you to receive.
If you don’t need money right away, that’s not a problem. If you do, you’ll need to find another way.
If you have the PIN, you can go to any ATM that accepts your credit card and you can withdraw cash from your card. The amount of cash you can get depends on what your credit card has allowed for cash advance.
I know some of you are crazy about these ATM fees, you just don’t want to pay them. What’s your options?
You need to visit the issuer bank or an in-network ATM if you want to avoid any fees. This is about the only way you’ll be able to get away from the fees and charges.
For example, you can have a $1,000 credit limit, but for cash advances, the limit may only be $300. Some credit cards may not offer them, others may have no limits at all. If you only have a $500 cash advance limit and try to get $501, you’ll be denied.
Before you attempt getting a cash advance, you need to make sure you know what your limit is. You can find out by calling your credit card issuer, visiting your online account or by checking the guidelines.
Without A PIN
Now, for those of you that don’t have a PIN, you can still get a cash advance. All you need to do is go to a bank teller and request a cash advance on your credit card.
You’ll need to have your credit card with you and you’ll also need a government issued photo, such as your driver’s license or a passport would do.
Some credit card companies will issue what is called an access check or convenience check. You can use these to withdrawal money on your credit card.
These blank checks draw on your credit line, not a checking account. You may be wondering how you can get these checks.
Some credit card issuers will send them automatically, others you’ll need to request before they send them to you. The bad thing, these checks are subject to high APRs, so be aware of that before you cash them.
Need another way to get some money on your credit card? It’s called the original “cash back.”
Walmart would be a good example as they offer up to $100 cash back. All you have to do is take your credit card to Walmart, buy something small and get up to $100 cash back.
It’s important to note, all credit cards are different and some will not trigger the cash back option when you check out.
Thought that was only for debit cards? True, in some places, you’ll have to find one that gives you a cash back option when you go to pay for an item.
I use my Chase credit card at a local gas station and can get cash back, so you can try the local stores too.
Using Prepaid Debit Cards
As another option, if you want the ability to get cash advances off a card, you can get a prepaid debit card.
Prepaid cards are not secured credit cards, they differ in a lot of different ways. Most importantly, prepaid cards do not report on your credit, secured credit cards can.
The good news, you can get a prepaid card for a few dollars. You’ll then be able to load money and use it just like a debit card.
Some scenarios may warrant it, this route is still cheaper than a cash advance.
Using A Debit Card
As we’ve touched on several times, cash advances are expensive. Even if you can’t find an ATM, it would be cheaper to use an out-of-network ATM versus getting cash off a credit card.
If you have money in the bank, draw it out. That cost you nothing in fees while cash advances and prepaid cards still cost money.
Request A PIN Number
If you don’t have a PIN for your credit card, might as well request one.
Like we said earlier, you’ll need to request one by calling the credit card issuer or by calling them directly. Either way, you’ll have to wait 7-10 days for them to mail it to you as they won’t give you a PIN over the phone or online.
It’s possible that some creditors will give you a temporary PIN to use. Just make sure you store is safely so no one else can get a hold of it.
Lost My PIN
If you’ve lose your credit card PIN, just request a new PIN. Again, they won’t give you a PIN over the phone, but you can receive a new one in 7-10 business days.
When you do get your new PIN, make sure you put it up somewhere safe. If you only have one credit card, remembering one PIN is simple.
If you have 5, 10, 20 credit cards, remembering PINs can be tough.
If you have a secure safe, you may want to store them there. We usually don’t recommend writing anything down, but if you have a home safe, that’s likely the best place to put it if you’ll be writing your PINs down on paper.
If you do choose to do so, we recommend writing them in code, which means in a way that only you understand versus just writing the numbers down. For example, you may add (1) to each number.
When you look at your PIN, you know to subtract (1) from each num
ber you wrote down. Always better to be safe than sorry.
Credit Shout is a community of personal finance experts dedicated to helping you save money and make smart financial decisions. Learn how to master your credit card rewards, improve your credit score and start eliminating your debt.