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Low cash advance rate credit cards

Want to get cash out with a credit card? Compare cards that offer competitive cash advance rates and fees.

Most credit cards allow you to withdraw money at checkouts or ATMs. Known as a cash advance, this type of credit card transaction can be a convenient option when you need money quickly. But cash advances usually attract much higher interest charges and fees than regular credit card transactions.

Here, you can compare credit cards that offer lower cash advance rates than regular cards. We also explain how cash advance transactions work, and list the potential costs and alternatives to credit card cash advances so that you can choose the right option for your circumstances.

What exactly is a cash advance on a credit card?

A cash advance is a type of credit card transaction that allows you to get cash or an equivalent to cash, such as foreign currency. This means you can basically spend the money however you want and that can lead to higher risks for lenders. So you usually have to pay a higher interest rate for cash advance transactions, as well as a cash advance fee

In addition to getting cash out with your credit card, other transactions that may be considered cash advances include balance transfers, buying foreign currency, gift card or prepaid card purchases and top-ups, and gambling transactions. Read our guide on cash advance transactions for more details.

How do low cash advance rate credit cards work?

While most credit cards have high cash advance interest rates, ranging from 19.99% p.a. up to 21.99% p.a. (variable), some cards offer more competitive rates for cash advance transactions. This type of card could be useful if you need access to extra funds but can't use your credit card to make a payment. For example, if you're overseas or shopping somewhere that only accepts cash (and you can’t use a debit card).

Note that even if you get a card with a low cash advance interest rate, you'll still have to pay a cash advance fee every time you use it for a cash advance. These transactions also won't be eligible for any interest-free days your card may offer for standard purchases, which means interest will be charged from the time the transaction is made until it is paid off in full.

Compare credit cards with competitive cash advance rates

With cash advances typically the most expensive transactions you can make with a credit card, it’s ideal to avoid them as much as possible. But if you think you’ll use this option and want to keep costs to a minimum, here’s a range of cards with competitive rates and fees.

Credit cardCash advance rateCash advance feePurchase rateAnnual fee
Bank Australia Low Rate Visa 9.39% p.a.$3.509.39% p.a.$59
Bank Australia Visa12.39% p.a.$3.5012.39% p.a.$0
Community First Low Interest Rate Visa8.99% p.a.$5 (overseas only)8.99% p.a.$40
Horizon Credit Union Visa12.95% p.a.$312.95% p.a.$0
ME frank11.99% p.a.$4 or 2% of the amount (whichever is greater)11.99% p.a.$0
Newcastle Permanent Value+ Credit Card11.99% p.a.Greater of 2% or $2.50 per transaction11.99% p.a.$49
Qudos Bank Lifestyle12.34% p.a.Between $1 and $2 for ATM withdrawals, $175 for emergency cash advances overseas. Other fees may also apply.12.34% p.a.$0
Qudos Bank Lifestyle Plus15.85% p.a.Between $1 and $2 for ATM withdrawals, $175 for emergency cash advances overseas. Other fees may also apply.15.85% p.a.$0

What else should I keep in mind?

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If you’re thinking of getting a credit card and using it for cash advances, make sure you also consider the following factors:

  • Cash advance fee. This fee is charged every time you make a cash advance transaction. It’s usually presented as the greater of a fixed dollar amount or percentage. For example, "$3 or 3% of the transaction, whichever is greater".
  • Purchase rate. Remember that the standard variable cash advance rate may not be the same as the purchase rate, so it's important to look at both.
  • Annual fee. Credit card annual fees can range from $20 to $400 or more. When considering this cost, weigh up the features of the card and consider whether the benefits will offset the annual fee, so that you can choose a product that's affordable for you.
  • ATM fees. Some credit cards charge a separate fee when you withdraw money from an ATM. Fees from ATM operators may also apply – especially if you're getting cash out with your credit card overseas.
  • International transaction fee. Most credit cards charge a fee of 2-4% for transactions made in a foreign currency. If you plan on using a low cash advance rate credit card for transactions overseas or online (such as foreign ATM withdrawals or Internet gambling), make sure you also consider this fee and how it could affect the overall cost of a cash advance.
  • Overseas fees for cash advances. Note that international transaction fees can also apply when you use your card to make purchases through international websites. Some credit cards also apply different cash advance fees for domestic and international transactions.
  • Reward points. If you get a credit card that offers reward or frequent flyer points for your spending, keep in mind that cash advance transactions on credit cards aren’t usually eligible to earn points.
  • Introductory offers. Some credit cards offer signup bonuses and introductory 0% interest rates for purchases or balance transfers. These offers can add short-term value to the card you choose, but it's important to note that the benefits usually don't apply to cash advance transactions. Always read the terms and conditions to make sure you will be able to take advantage of this type of offer based on the way you plan to use your card.

Can I get a cash advance without a credit card?

If you need cash and don’t want to use your credit card, another option is to look at short-term loans, including online cash advances. This gives you a way to get a cash advance (or loan) even if you don’t have a credit card. Just remember to consider the rates, fees and repayments to decide if this option will suit your financial situation.

Low cash advance rate credit cards can give you a way to get money quickly but the rates and fees may still lead to more debt in the long run. So remember to carefully consider your options and, if you need help, consider free support services that could help you manage your financial situation.

Frequently Asked Questions

Have a question about low cash advance rate credit cards? Here you’ll find answers to the most common questions we get. You can also get in touch to find out more using the comment box below.

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NAB Premium Card - Exclusive Offer
NAB Premium Card - Exclusive Offer

Interest rate

19.74

Annual fee

90
St.George Vertigo Platinum - Online Offer
St.George Vertigo Platinum - Online Offer

Interest rate

12.74

Annual fee

99
Woolworths Everyday Platinum Credit Card
Woolworths Everyday Platinum Credit Card

Interest rate

19.99

Annual fee

49
Virgin Money Low Rate Credit Card
Virgin Money Low Rate Credit Card

Interest rate

11.99

Annual fee

49

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10 Responses

  1. Default Gravatar
    debMay 9, 2016

    I would like to know if you can do a balance transfer my current card is charging 19.99 on the cash amount what do you offer best rate for balance transfer
    thanks

    • Staff
      AnndyMay 9, 2016Staff

      Hi Deb,

      Thanks for your question.

      Please note that finder.com.au is a financial comparison and information service and is not a representative of any credit card company.

      Yes, it is possible to transfer your credit card balance to another credit card with a different issuer. You can refer to this page to know which banks will and will not allow you to transfer your balance to. You can then start comparing your balance transfer credit card options here.

      I hope this helps.

      Cheers,
      Anndy

  2. Default Gravatar
    KateJune 11, 2014

    Are there any credit cards that DON’T allow cash advances – in case your will power isn’t 100% …. Thanks for replying

    • Staff
      ShirleyJune 12, 2014Staff

      Hi Kate,

      Thanks for your question.

      Unfortunately there aren’t any credit card that don’t allow cash advances, this is a standard feature.

      If you don’t like the idea of cash advances, you may want to opt for a charge card instead.

      Cheers,
      Shirley

  3. Default Gravatar
    ABAugust 22, 2013

    If I do a cash advance on the Citibank Platinum credit card of $30,000.

    I will be charged 3.5% on the amount of $30,000 and the interest rate is 0.00% for the first 6 months is that right?

    AB.

    • Staff
      JacobAugust 22, 2013Staff

      Hi AB.

      You can read the card’s review on this page. There is currently an interest free period on cash advances. You will not get charged any interest on any cash advances you make during this term. During the interest free period, you will only have to make the minimum monthly repayment. After this interest free period, the cash advance rate will be charged on any unpaid cash advances transacted during the cash advance promotional period.

      Thanks for your question.

  4. Default Gravatar
    WilliamMay 6, 2013

    If I choose to pay cash up front to exchange for Euros and GBP, should it not be a better rate for me than for someone using a card of any sort?

    • Staff
      JacobMay 6, 2013Staff

      Hi William. Thanks for your question. To clarify: you’re looking to exchange currency, and you’re wondering whether you’d get a better rate if you exchanged cash at an exchange office when compared to using a credit card to make a purchase at a foreign country? To answer, it really depends on the fees and charges at the exchange office where you get your cash. A credit card will incur a cross currency conversion fee, which is usually about 2-3% – in addition to an exchange margin that is applied by the issuing bank and the card scheme. This can be expensive; however, in my experience, no more expensive than the rates you can get at an exchange office – there can also be a significant fee for using these services too. Jacob.

  5. Default Gravatar
    VardiMarch 26, 2013

    I need to organise a low cash advance interest rate credit card ASAP, for the gap needed in a settlement for an apartment on this Thursday afternoon. Is there any card I can apply for online that will make its services available for use to draw a cash advance to be transferred into my access account with ANZ who charge 21% on cash advances which will cost me $3000 for the $15000 I need to have for the gap in the monies available for the settlement. i.e. any online application that will give me the card to use for Thursday March 28th a.m.? Thank you,

    Vardi

    • Staff
      MarcMarch 26, 2013Staff

      Hello Vardi,
      thanks for the question.

      The average time for a credit card to be approved, received and activated is approximately two weeks. There are loans such as Payday loans which may be able to applied for and received on shorter notice, more information about these can be found here.

      I hope this helps,
      Marc.

Credit Cards Comparison

Rates last updated December 13th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
0% p.a. for 24 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
Woolworths Everyday Platinum Credit Card
19.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you meet the offer criteria, a 0% p.a. for 14 month balance transfer offer and a $0 first year annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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