The majority of Indian banks provide the facility of Credit card cash advances or cash withdrawals to their credit cardholders. Through this facility, credit cardholders can withdraw cash anytime they need to use their card. There is a cash advance feature available on nearly all Axis Bank credit cards. However, the amount of money that can be taken out with a credit card is limited by the bank and varies depending on the card. Further, there are several factors that you need to consider before withdrawing cash from a credit card.
So, in this article, we will provide you with all the required details you need to know before withdrawing money from an Axis Bank credit card.
How can you Withdraw Cash from an Axis Bank Credit Card?
If you want to withdraw cash using a credit card then you can use any of the ATMs and not specifically Axis Bank ATMs. The process of withdrawing cash using a credit card is similar to that of using a debit card.
Here are the steps that a credit card holder needs to follow to withdraw cash:
- Firstly you need to go to an ATM and insert your Axis Bank credit card into the slot.
- Now select your preferred language from the listed languages on the screen.
- Now you will see an option of “Cash withdrawal”.
- Click on the option enter the amount you wish to withdraw and tap on enter.
- Now you need to type the PIN of your credit card and collect the money from the ATM.
Things You Need to Know Before Withdrawing Cash From A Credit Card
If you want to withdraw cash from a credit card then you must be aware of the various charges incurred while you use a credit card.
- Cash Advance Fee
The first charge is the cash advance fee which is usually calculated as a percentage of the amount withdrawn. The charge may fall between 2.5 to 3% but it usually varies depending on the issuer and withdrawal circumstances.
- Interest Charges
The interest charges on credit cards are usually very high. The system charges high interest rates from the day of the cash withdrawal until the entire amount is repaid.
- ATM Charges
You can withdraw cash using an ATM up to 5 times per month for free depending on the location. But if you use your credit card more than 5 times then you will be charged with an ATM maintenance fee.
- Late Payment Charges
Credit card gives you the facility to withdraw cash at any time of need but if you do not repay the full amount on time then you are required to pay late payment charges.
How will you know the charges you have to pay on using a Credit Card?
Axis Bank Credit Card EMI calculator helps you manage your credit card in a better way. As we use credit cards in the present with the option to pay later, knowing the exact amount of EMI, total interest and total repayment amount with the use of an EMI calculator will help you in your repayment plan easily.
What is an Airtel Credit Card?
Airtel Axis Bank credit card is specially designed to offer several benefits to Airtel customers. You can apply for an Airtel Credit Card to get cashback, discounts, and vouchers not only on Airtel spending but also across spending on other brands.
Conclusion
Overall, Withdrawing cash from a Credit Card is very easy but it requires a careful understanding of all the costs and charges associated with it. You must be aware of all the features offered by your Credit Card provider. For instance, Axis Bank Credit Card offers several benefits to meet different lifestyles and needs. We hope you found this article useful and now by staying informed and careful, you can make the most out of your Credit Card.