How to Get a Capital One Cash Advance

You know for a fact that when there is a little too much month left at the end of your money then an unexpected emergency or a looming bill can put you in a financial bind.

A situation like this is always stressful. But there is the option available for you to get a capital one cash advance. In this post, we will see what is Capital One cash advance and how to get it. Let’s read on.

What Is a Cash Advance?

Cash Advance is a term in which we can get cash in advance quickly. It is basically a short-term loan. You can use a credit card instead of a debit card at ATM to withdraw funds from it.

There are interests and fees associated with the use of cash advances. The process is simple, but the fees associated with the convenience of getting money quickly in a pinch can be significant. Following is the way so you can get capital one cash advance.

How to Go About Getting a Capital One Cash Advance?

First, keep in mind that you have as many other cash advances available as you need but it must be within your designated limit. This information can be found in the “Available Credit for Cash advances” on your most recent credit card statement.

Second, you will require the pin which is associated with the capital one credit card. If you don’t know the pin then you can get it online in more account settings or by calling 1-800-227-4825.

If you don’t have a pin then you can get a cash advance from the physical bank using a credit card. You will need some forms of identification, like your driver’s license, as well as your Capital One credit card. This works as long as the bank displays a MasterCard or Visa logo.

Then you need to choose the ATM of your choice. But you should keep in mind that aside from any fees imposed on the transaction already, there likely will be additional fees from the bank whose ATM you use and cash advance limits.

For cash advance follow the following steps:

Step 1: Insert your card into the ATM machine.

Step 2: Enter your pin.

Step 3: Select the cash advance option.

Step 4: Choose an amount.

Step 5: Receive Cash.

Capital One Cash Advance Fees

There are charges associated with the cash advance. First, there is a fee for the use of the ATM. Second, a capital one credit card imposes a fee of $10 or 3% of your cash advance. The rate for cash advances falls between 23.74% and 28.24% and interest begins to collect.

Alternatives to Cash Advances

Following are the alternatives for cash advances:

  • Use of credit cards for your purchases.
  • The personal loan has lower interest rates.
  • Borrowings from friends or family

Bottom Line

There is no easy out to free from unexpected financial situations and the stress of the situation is not clear and you must have to take the right decision. Because the situation does not demand immediate cash and all other options have not yet been exhausted, it might be good to avoid cash advances for future financial stress.

Read More: The best way to close capital one account

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