Withdrawing cash using your credit card is called a cash advance, and can cost much more than spending on it in a shop or online.

You could pay less in fees if you avoid using a credit card in a cash machine, but if you cannot avoid it in an emergency, make sure you understand how much it will cost.

How much does a cash advance credit card cost?

You will have to pay:

  • A cash advance fee of around 3% of the amount you withdraw (usually with a minimum charge of £3 or more)

  • Interest on the amount you withdraw from the day you take the cash out, usually at a higher rate than your normal APR, often higher by several percentage points, ranging from 15% to 30%

Here is a closer look at how much they cost and how to keep your costs down.

What else counts as a cash advance?

As well as cash withdrawals, the following may be considered as cash advances by your credit card company:

  • Paying your mortgage or utility bills

  • Buying travel money

  • Buying gift vouchers

  • Gambling transactions

  • Writing cheques from your credit card (only offered by some providers)

Find the best cash withdrawal credit card

If you think you will need to withdraw cash on a credit card, choose one that will be as cheap as possible.

The above table includes every credit card available in the UK and shows the cash withdrawal fee and interest rate for each one. You can sort the results to show the cheapest fees or interest rates.

The comparison also shows the maximum amount you can withdraw and the card's APR.

You can also keep your costs down by withdrawing all the money you need in one go and paying off your balance straight away.

How else can you get the cash you need?

If you need a large amount of cash it could be cheaper to use a money transfer credit card. These let you send money from the card to your bank account, which you could then withdraw.

They charge a fee, but some come without interest for several months. This guide explains how much money transfer cards cost.