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Best Credit Cards for a Cash Advance in November 2023
The best credit card for a cash advance in November 2023 depends on your specific needs, with options like DCU Visa® Platinum and Capital One Quicksilver standing out for their low fees and rewards benefits.
by Kowsalya
Updated Nov 07, 2023
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What is Cash Advance?
A credit card cash advance is when you use your credit card to withdraw cash from an ATM or get cash from a bank or financial institution. It's like borrowing money against your credit card's credit limit. However, cash advances typically come with extra fees and higher interest rates than regular credit card purchases. Plus, interest starts accruing immediately, so it's important to pay off the cash advance as soon as possible to minimize the cost. It's generally a more expensive way to get cash compared to using your debit card or withdrawing money from your bank account.
Best Credit Cards for a Cash Advance in November 2023
In November 2023, navigating the realm of credit cards for cash advances can be both convenient and complex. To simplify your search, we've curated a list of the top contenders, each offering unique benefits. Digital Credit Union's Visa® Platinum Card stands out with its low APR and no fees, providing a hassle-free experience.
Capital One also takes the spotlight with offerings like the VentureOne Rewards Card, known for its travel rewards and minimal fees. Whether you're seeking no annual fees or attractive cash back bonuses, our selection ensures you make an informed choice in your quest for the best credit card for cash advances this November .
|
Credit Card |
Cash Advance Fee |
Annual Fee |
|
DCU Visa® Platinum Credit Card |
$0 |
$0 |
|
Capital One VentureOne Rewards Credit Card |
3% of the amount |
$0 |
|
Capital One Quicksilver Cash Rewards Credit Card |
3% of the amount |
$0 |
|
Capital One Venture Rewards Credit Card |
3% of the amount |
$95 |
|
Capital One SavorOne Cash Rewards Credit Card |
3% of the amount |
$0 |
DCU Visa® Platinum Credit Card
The DCU Visa® Platinum Credit Card offers a remarkably low APR, making it an excellent choice for individuals aiming to save on interest. With compatibility with major mobile wallets and optional overdraft protection, it prioritizes convenience and security. Members enjoy the perk of having no cash advance fees, making it a budget-friendly option for financial flexibility. Additionally, this card is a great starter choice for those building credit due to its low rates and no annual fees.
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Capital One VentureOne Rewards Credit Card
Capital One VentureOne Rewards Credit Card provides users with the ease of earning 1.25X miles on every purchase. With no foreign transaction fees and a straightforward rewards system, it’s ideal for travelers. The card also offers a generous 20,000-mile bonus after reaching a minimum spending threshold. Coupled with a 0% intro APR, this card is perfect for those who want to enjoy travel benefits without annual fees.
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card simplifies cash back rewards with unlimited 1.5% cash back on every purchase. With an enticing one-time $200 cash bonus, it offers excellent value for everyday spenders. This card stands out for its versatility, offering cash back on various categories without the hassle of rotating rewards. Plus, it provides complimentary Uber One membership credits, making it a great choice for those who appreciate extra perks.
Capital One Venture Rewards Credit Card
For frequent travelers, the Capital One Venture Rewards Credit Card is a standout choice, offering an impressive 2X miles on every purchase. The card provides an enticing one-time bonus of 75,000 miles, equivalent to $750 in travel, after reaching a spending threshold. With benefits like Global Entry or TSA PreCheck® credit and complimentary lounge visits, this card is tailored for travel enthusiasts seeking luxurious experiences and substantial rewards.
Capital One SavorOne Cash Rewards Credit Card
Foodies and entertainment enthusiasts will appreciate the Capital One SavorOne Cash Rewards Credit Card, offering robust cash back rewards. With unlimited 3% cash back on dining, entertainment, streaming services, and grocery stores (excluding superstores), it’s perfect for those who enjoy culinary delights and entertainment experiences. The card also provides exclusive perks like complimentary Uber One membership credits and cash back on travel bookings, making it a top choice for lifestyle-focused spenders.
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Best Credit Cards for a Cash Advance in November 2023 - FAQs
1. What is a credit card cash advance?
A cash advance is when you use your credit card to withdraw cash, like borrowing against your card's limit, but it has high fees and immediate interest.
2. How do cash advance fees work?
Cash advance fees are typically a percentage (around 3%) of the amount you withdraw, charged by the credit card issuer.
3. When does interest start accruing on a cash advance?
Interest on cash advances starts accumulating immediately from the day of the withdrawal, unlike regular purchases.
4. What should I consider before getting a cash advance?
Consider high fees, higher interest rates, and explore other options like using a debit card or withdrawing from a bank account first.
5. What's the best way to minimize cash advance costs?
To minimize costs, pay off the cash advance as quickly as possible to avoid accumulating high-interest charges over time.
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