Cash Advance Interest Calculator
A cash advance costs more than the amount you take out. See the full price: the upfront fee, the interest that starts on day one, and what it all adds up to.
Enter an amount and APR to see the full cost.
Why a cash advance costs so much
Three things stack up, and they hit at the same time:
- An upfront fee. Usually 3% to 5% of the amount, or a $10 minimum, whichever is greater. On $1,000 at 5%, that is $50 before any interest.
- No grace period. Purchases give you 21+ days to pay before interest starts. Cash advances do not. Interest accrues from the day of the transaction.
- A higher APR. The cash advance rate is usually several points above your purchase rate, often around 24% on average and sometimes over 30%.
Because the fee lands immediately and interest starts on day one, even a short cash advance is expensive. Paying it back fast is the only way to keep the cost down.
Worked example
A $1,000 cash advance at 29.99% APR with a 5% fee, paid off in 30 days:
- Upfront fee: $50 (5% of $1,000)
- Interest for 30 days: about $25 (roughly $0.82 a day)
- Total cost: about $75, which is 7.5% of the amount in a single month
Carry it longer and the interest keeps climbing. That same advance held for six months would cost the $50 fee plus around $150 in interest.
Cheaper ways to get cash
A cash advance should be close to a last resort. Options that usually cost less:
- A personal loan, especially with good credit, often at a lower rate with a fixed term.
- A paycheck or earned-wage advance app.
- A small emergency loan from a credit union.
- A 0% intro APR card for a planned expense, paid off before the promo ends.
Frequently asked questions
How much does a credit card cash advance cost?
An upfront fee of usually 3% to 5% (or a $10 minimum), plus interest that starts the day you take the cash. A $1,000 advance at 5% and 29.99% APR held a month runs about $75.
Is there a grace period on a cash advance?
No. Interest begins accruing from the transaction date. There is no interest-free window like there is with purchases.
Why is the cash advance APR higher?
Issuers price cash advances as higher risk and charge a separate, higher rate, often around 24% on average and sometimes over 30%, applied from day one.
How can I avoid cash advance costs?
Avoid the advance when you can. A personal loan, paycheck advance app, credit union loan, or 0% intro card usually costs less. If you must, pay it off as fast as possible.
Disclaimer. This calculator is for educational and planning purposes only and is not financial advice. Fees, APRs, and terms vary by issuer and card, and some cards charge interest on the fee itself. Check your cardholder agreement for your exact numbers, and consider a qualified advisor or nonprofit credit counselor for help with debt.
Sources: fee and grace-period mechanics confirmed against Experian, Chase, and Bank of America.