Cash Advance Calculator
True cost of a cash advance — fee + immediate interest at higher APR.
True cost of this advance
$51
Cash advances have NO grace period — interest accrues from day one. Almost always a bad idea unless it's a true emergency with no alternative.
A cash advance lets you pull cash against your credit card, but it is one of the most expensive ways to borrow. Unlike a purchase, it comes with an upfront fee, a higher APR, and no grace period, so interest starts the moment you take the money.
This calculator adds the cash advance fee to the interest that accrues from day one, so you can see the real cost before you use an ATM or a convenience check.
Because payments are typically applied to lower-APR balances first (above the minimum), a cash advance balance can linger and keep accruing interest at the higher rate for months.
How this calculator works
There are two costs. The fee is usually 3-5% of the amount advanced, with a minimum of around $10, charged immediately: a $500 advance at 5% is a $25 fee. The interest uses the cash advance APR, which is often higher than your purchase APR and frequently near 30%, divided by 365 for a daily rate, and it accrues from the transaction date because there is no grace period. On that $500 at a 29.99% cash advance APR, the daily rate is 0.2999 / 365 = about 0.0822%, so 30 days of interest is roughly 500 x 0.000822 x 30 = $12.32. Add the $25 fee and the first month alone costs about $37.32 on $500 borrowed. The calculator sums the fee plus accrued interest over the number of days you expect to carry the balance.
What affects the number
- Cash advance fee: typically 3-5% of the amount, minimum about $10, charged upfront and added to your balance.
- No grace period: interest accrues from the transaction date, so even paying at the next statement does not avoid it.
- Higher APR: the cash advance APR is usually several points above your purchase APR, often in the high-20s or near 30%.
- Payment allocation: above the minimum, issuers apply payments to the highest-APR balance, but the required minimum may go to cheaper balances, letting the advance sit and accrue.
- ATM and bank fees: the machine or bank may add its own surcharge on top of your card issuer's fee.
- What counts as a cash advance: ATM withdrawals, convenience checks, some wire transfers, and occasionally gambling or crypto purchases can all trigger cash advance terms.
Frequently asked questions
Do cash advances have a grace period?
No. Almost all cards begin charging interest on a cash advance from the transaction date, with no grace period. That is different from purchases, where paying your statement balance in full by the due date avoids interest entirely. This is a big part of why advances are so costly.
How much does a cash advance really cost?
You pay two things: an upfront fee of about 3-5% (minimum roughly $10) and daily interest at the cash advance APR starting immediately. On $500 at a 5% fee and a 29.99% APR, that is a $25 fee plus about $12 of interest in the first month, roughly $37 to borrow $500 for 30 days.
Is the cash advance APR different from my purchase APR?
Yes, and it is usually higher. Your cardholder agreement lists a separate, higher APR for cash advances, often close to 30%. Because that rate compounds daily with no grace period, the advance balance grows faster than an ordinary purchase balance would.
How can I pay off a cash advance fastest?
Pay well above the minimum, because minimum payments may be applied to lower-APR balances first, leaving the high-rate advance untouched. Paying the whole card off in one shot clears the advance and stops the daily interest. If you have a large card balance too, tackling the advance quickly saves the most.
This calculator provides general estimates for educational purposes only and is not financial advice. Your actual costs and credit outcomes depend on your specific card terms, issuer, and situation.