FAQs
The First Digital Mastercard cash advance limit is half of the card's credit limit. The cash advance APR is 35.99%, and the fee for each transaction is $10 or 3% of the advance amount, whichever is greater. Keep in mind that cash advances are not subject to a grace period, so daily interest starts accruing immediately.
How much is the cash advance fee on a Mastercard? ›
Cash Advance Fees for Mastercard Credit Cards
Either $10 or 5% of the amount of each transaction, whichever is greater. Be aware, this fee is not the only cost associated with cash advances. You will also get charged interest on the cash advance amount.
Can you get a cash advance on your first digital credit card? ›
The card charges a fee of 35.99% APR for purchases and cash advances. If you do take a cash advance, you'll also pay a fee of $10 or 3% (whichever is greater) of the amount that you withdraw, plus the interest that accrues on the cash advance.
How much is the first digital Mastercard fee? ›
Unlike many credit cards aimed at rebuilding credit without an annual fee, the First Digital Mastercard®* comes with an annual fee of $75 for first year, $48 annually thereafter. One-time $95 program fee is due after approval to activate the card.
What is the standard Mastercard cash advance fee? ›
Requirements and Fees
Balance transfer: Either $10 or 3% of the amount of each balance transfer, whichever is greater (maximum fee: $60). Cash advance: Either $10 or 3% of the amount of each cash advance, whichever is greater (maximum fee: $60).
How to avoid cash advance fees? ›
Alternatives to Cash Advances with a Credit Card
- Open a cash account. Having either a checking account or a prepaid card that gives you access to free withdrawals at a large ATM network is one of the best ways to avoid cash advances.
- Borrow money from a friend. ...
- Apply for a personal loan.
“Unlike a debit card withdrawal, in which you're accessing your own funds, with a cash advance your credit card company is essentially lending you money and charging your account. The charge will likely cost you; cash advances generally have a transaction fee and a higher annual percentage rate (APR).
Can I withdraw money from my first digital credit card? ›
The First Digital Mastercard® cash advance fee is 3% (min $10) per transaction, whichever is higher. A cash advance fee is charged when using the First Digital Card for cash withdrawals at an ATM.
Can I withdraw cash from digital credit card? ›
Unfortunately, if you don't have a physical card, you cannot get money off a virtual card through an ATM. However, you can link a virtual card to your physical credit or debit card or mobile wallet. This action makes it possible to withdraw cash at ATMs.
How can I turn my credit card into cash without cash advance? ›
Ask your card issuer for convenience checks. These are checks you can write that are tied to your credit card account. Wire money to yourself through a money transfer service, such as Western Union, and pay with your credit card. Purchase a money order with your credit card, if you can find a merchant that allows this.
Everyone who gets approved for First Digital Card is guaranteed a credit limit of at least $300, and particularly creditworthy applicants could get limits a lot higher than that. The higher an applicant's credit score and income are, the higher the starting credit limit is likely to be.
What bank owns first digital credit card? ›
First Digital is the brand name used by Vervent for the purposes of marketing the First Digital Mastercard®. Vervent is the company that services these credit card accounts. The issuing bank for the cards is Synovus Bank.
Is First Digital a legitimate credit card? ›
Yes, the First Digital Mastercard® is legit. The First Digital Card is legit because it is issued by Synovus Bank, an FDIC member that is accredited by the Better Business Bureau and has an “A+” BBB rating. The First Digital Card also reports information to the major credit bureaus each month.
Do cash advances hurt your credit? ›
Using your credit card for a cash advance doesn't directly affect your credit score. Your credit report won't show that you used your credit card to get cash. However, the cash advance does increase your credit card balance and could hurt your credit score if it pushes your credit utilization ratio too high.
What is the minimum cash advance fee? ›
The most common structure is 5% of the advance amount or $10, whichever is more. But some card issuers may charge less or more than that. In addition to the cash advance fee, card issuers also typically charge a higher APR compared to the rate charged on regular purchases.
How to get cash advance from Mastercard? ›
Most Mastercard credit cards also allow you to obtain cash advances at an ATM. You will need a Personal Identification Number (PIN) to withdraw cash. You can find your issuer's contact information on the back of your Mastercard and on your billing statement. Or you can visit the issuer's Web site.
Is there a fee for Mastercard cash withdrawal? ›
What is the fee for withdrawing money or taking a cash advance from an ATM? Mastercard does not determine ATM fees. Any fees charged by the ATM owner are disclosed at the time the transaction is initiated and you're given the option to discontinue the transaction if you don't wish to pay the fees.
What is the APR for Mastercard cash advance? ›
The Introductory Balance Transfer APR is 3.99% which is a daily periodic rate of 0.0109%. The Balance Transfer APR is 9.99% which is a daily periodic rate of 0.0274%. The Cash Advance APR is 9.99% which is a daily periodic rate of 0.0274%.
What would the transaction fee be on a cash advance of $300? ›
No matter how you take out a cash advance, you will have to pay a transaction fee, typically 3 percent to 5 percent. Currently, the transaction fee for Chase Sapphire Preferred® Card is 5 percent or $10, whichever is higher. That means if you take out a cash advance for $300, the transaction fee will run you $15.
