How to Get Cash from a Credit Card Without Your PIN

When you need money on a short notice but don’t have enough money in your bank account to cover the transaction, you may be able to use your credit card to pull cash out of an ATM. Called a credit card cash advance, this could be a solution, although it is not free. Not only do cash advances come with transaction fees, they also tend to charge higher APRs. That being said, cash advances could be right for you and much less costly compared to a pay-day loan, for example. However, if you don’t have your personal identification number (PIN), you will not be able to withdraw cash from an ATM. So here’s what you should do.

How it works

First, before attempting to withdraw money, you should verify whether your card is eligible for a cash advance and find the card’s cash advance limit. It is important to note that this limit is often much smaller than your actual credit line.

With an advance PIN, you can use your credit card at any eligible ATM the same way you would use a debit card. However, if you do not have a PIN set up, you can simply bring your photo ID and make a request to a cashier or teller. 

Factors to consider

While getting a cash advance can be a simple procedure, it can also be very expensive and risky. If you decide a cash advance is your only option, there are a few things to consider. First, the interest rate is usually much higher than the regular interest rate for purchases made with your credit card. Secondly, there are also other fees attached and effects it could have on your credit, including credit card cash advance fees and out-of-network ATM fees. Make sure to weigh these factors when making your decision to get a cash back advance. The last thing you want to do is have your financial situation completely unravel beyond repair.

Conclusion

Credit card cash advances are rather straightforward and can even be completed without a PIN. And while they can help you overcome temporary financial hurdles, you should not rely on them to an excessive extent. Instead, make sure that you set and follow a budget in order to take control of your finances and maintain financial independence.