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Updated January 7, 2016

Best Credit Cards for Cash Advances

Here are the best credit cards from our partners for cash advance

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If you need quick cash, one very expensive – but sometimes necessary – option is to use your credit card at the ATM for a cash advance.

A cash advance lets you take money out of the machine with your credit card just like you do with your ATM card, when you withdraw your own money. However, this type of transaction will show up as a charge on your credit card statement for you to pay off in the future.

There’s also a catch to cash advances. Most credit card companies charge an upfront fee plus a high interest rate on them. Ideally, you have your own cash fund set aside for emergencies. However, if you are in a tight spot, a cash advance is better than some of your other options. Payday loans, for example, often charge even higher fees. And if your strategy is to put off paying some of your bills when you’re strapped for cash, you could end up with penalties, lost services, and damage to your credit score.

Also know that cash advances are not a solution to long-term financial problems. If you’re going to be hurting for money for awhile, you may want to consider alternatives such as a small loan from a credit union, negotiating with your creditors, or contacting a consumer credit counseling service. Read our guide on how to get out of debt before you consider a cash advance.

After considering all your options, if you do decide to opt for a cash advance, here's our updated list of the best credit cards for this purpose. While you hopefully will never need to turn take this step, at least you know you will get a fair deal if you equip yourself with one of these cards in, well, advance.

Barclaycard Ring offers cash advances at a 8.25% variable APR with a $3 cash advance transaction fee.

Barclaycard Ring MasterCard
Apply for Barclaycard Ring MasterCard
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  • No Balance Transfer Fees - start saving immediately!
  • A low variable APR on balance transfers and purchases
  • No Annual Fee
  • Choose your card benefits and features
  • Get rewarded through the new Giveback(TM) program, where Barclaycard Ring members get money back for good performance
  • Get exclusive access to our online community and vote on the card features you like and view the financials of the Barclaycard Ring MasterCard online
  • Learn more about personal finance from Barclaycard and other members
  • Complimentary FICO® Credit Scores as a benefit to active cardmembers. Opt-in to have instant and convenient access to FICO® Scores from your Barclaycard online account.
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
8.25%* Variable

To be sure, in today’s rough economy, money is tight for many American households. In a poll by the American Payroll Association, 68% of households reported that they would have serious financial problems if a paycheck was a week late. This means most Americans are living paycheck to paycheck and don’t have the cash reserves to deal with a financial emergency. So while a cash advance may be a last resort, know that you’re probably not alone if you need to go this route. At least now you know the best options for which credit card can put you in the best position when you’ll need a cash infusion.

Tip: If you have existing credit card debt, you may want to consider doing a balance transfer. A cash advance is usually only a short term solution. A balance transfer to a low interest credit card is a smart step toward paying off your credit card debt in the long run. To learn more, read this list of the best credit cards for balance transfers.

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Editorial Note: This content is not provided by Barclaycard. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Barclaycard. This site may be compensated through the Advertiser's affiliate programs.

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About CreditDonkey®
CreditDonkey is a credit card comparison website. We publish data-driven analysis to help you save money & make savvy financial decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: The card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.