If you know you'll need extra money in a few days and don’t mind paying transaction fees and hefty interest rates, one option is an online credit card cash advance. These don’t require you to find a convenience check or an ATM, and can be done with a few clicks from the privacy of your own home. However, the money also doesn’t get in your hands as quickly as other cash advance options.
Link the Accounts
Not all credit card issuers offer cash advances online, but those that do require the credit card account to link to your bank account. You’ll log onto your credit card account, click on the area for cash advances, and find the online cash advance option. There, you’ll type in the amount you want to transfer and the account you want the funds deposited in. Issuers manage the process according to their own rules. The Discover Card cash into checking program, for example, will make the transfer to an account you’ve used to make a payment on the card in the past.
Time and Money
An online credit card cash advance isn’t instantaneous. It can take up to five days to process, meaning that going online Friday morning won’t leave your bank account flush for the weekend. You’ll also pay transaction fees based on the size of the transfer, and a higher interest rate on those funds until you pay the money back.