1. What is Capital One Cash Advance Fee?

Capital One cash advance fee is a charge applied when you withdraw cash using your credit card. This fee typically includes a percentage of the advance amount plus any additional ATM fees that may apply.

2. How Does the Calculator Work?

The calculator uses the Capital One cash advance fee formula:

Where:

• \( Advance\ Amount \) — The amount of cash being advanced
• \( Fee\ \% \) — The percentage fee charged by Capital One
• \( ATM\ Fee \) — Any additional ATM fees that may apply

Explanation: The calculator determines the total cost of a cash advance by calculating the percentage-based fee and adding any applicable ATM fees.

3. Understanding Cash Advance Fees

Details: Cash advances typically have higher interest rates than regular purchases and may include additional fees. It's important to understand these costs before taking a cash advance.

4. Using the Calculator

Tips: Enter the advance amount in dollars, the fee percentage (typically 3-5% for Capital One), and any additional ATM fees. All values must be valid positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is the typical cash advance fee for Capital One?
A: Capital One typically charges 3% of the advance amount or $10, whichever is greater, plus any ATM fees.

Q2: When does interest start on cash advances?
A: Interest on cash advances typically starts accruing immediately from the transaction date, with no grace period.

Q3: Are there daily limits for cash advances?
A: Yes, Capital One and most banks impose daily cash advance limits, which are typically lower than your total credit limit.

Q4: Can I avoid cash advance fees?
A: Some credit cards offer no-fee cash advances, but these are rare. It's generally better to use other methods of obtaining cash.

Q5: How does cash advance affect my credit score?
A: Cash advances themselves don't directly hurt your credit score, but they can increase your credit utilization ratio, which may affect your score.