What is a cash access line?
Quick insights
- A cash access line is the amount available for a cash advance on a credit card.
- A cash access line makes up a part of your total credit limit.
- With a cash access line, cardholders may be able to withdraw cash from an ATM or bank by using their credit card.
When you need to withdraw cash, you might head to the ATM and insert your debit card. But did you know you might also be able to use your credit card to withdraw cash?
A cash access line allows you to withdraw cash from an ATM or bank by using your credit card. Read on to learn more about what a cash access line is and how it differs from your overall credit limit.
What is a cash access line?
A cash access line refers to the amount available for a cash advance on your credit card. Your cash advance limit makes up a part of your credit card’s total credit limit (or the maximum amount you can borrow for transactions).
Your card’s cash access line allows you to use your credit card at banks and ATMs to withdraw money. But take note that cash advances often come with higher interest rates and fees compared to regular credit card transactions; it's important to use this feature judiciously.
The availability and amount of a cash access line can vary. You may be able to check the amount on your credit card account statement. If you’re close to hitting your credit limit, you may not be able to access the entirety of your cash access line.
What is the difference between credit access line and cash access line?
- A credit access line is another phrase for your credit limit, which designates the maximum amount of money Chase has agreed to loan you at a given time.
- A cash access line is the amount of cash you can borrow against your overall credit limit.
Can I request a cash access line from Chase if I have a Chase credit card?
If you have a Chase credit card, you can request a cash advance either through an ATM or by requesting one in person at a Chase branch. The amount granted, if any, can vary. Keep in mind that when using a ATM to get a cash advance, you will need a PIN; this is usually not the same one you use for your debit card.
While using your card’s cash access line can be simple, it’s important to remember that there are associated costs. Cash advances often have a higher interest rate than is charged for normal purchases, and no grace period. That means you might be charged interest starting from the date you withdraw your cash advance. Additionally, you might have to pay a fee for each cash advance transaction; the amount will vary by credit card.
Also note that if you opt for an ATM, surcharge fees may apply for non-Chase ATMs. Chase branches do not apply a specific fee for a cash advance, though there may be fees applied depending on your credit card (see your card’s terms and conditions).
In summary
Using a cash access line can be helpful when you need cash in a pinch, but it’s crucial to understand all the associated fees. If you are able to and choose to get a cash advance from your credit card, be sure to promptly pay it off to avoid potentially impacting your credit score.
