Did you know you can get a Navy Federal credit card cash advance at a bank branch or an ATM that displays the logo of your card’s network? Here are the important details you need to take note of. Don’t skip a line!
Overview of Cash Advance Navy Federal
Navy Federal cash advance on a credit card is like a withdrawal with a debit card from a bank account.
You utilize your card at an ATM and receive cash, but the similarities end there. With a debit card, you withdraw your money and often won’t even pay a bank fee.
With a credit card, you obtain borrowed money, which becomes part of your credit card debt you must pay back.
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What You Should Know About Navy Federal Credit Card Cash Advances
- How to get a cash advance: To acquire a cash advance with your credit card, visit an ATM or bank branch with the network logo. For in-branch cash advances, you must have a government-issued photo ID, your card, and your account number. An ATM cash advance requires a credit card PIN.
- Cash advance fees: Cash advances from Navy Federal branches or ATMs are free. However, all other domestic cash transactions are charged a $0.5 cost. In addition to the Navy Federal fee, some ATMs may impose additional fees.
- Cash advance APR: The Navy Federal cash advance APR is 2% higher than the usual APR, not to exceed 18%. For example, the Navy Federal Credit Union Platinum Credit Card has a standard APR of 11.24% – 18% (V), depending on creditworthiness. So, its cash advance APR ranges from 13.24% to 18% (V). Check your monthly bill to find out exactly what your cash advance APR is. Cash advance interest rates begin collecting immediately upon the transaction, with no grace period.
Keep in mind that credit card cash advances are expensive. So, unless absolutely necessary, avoid them.