Credit cards can be a salvation when you need emergency cash. Unfortunately, however, those cash advances can come with hefty fees in addition to the interest that begins accruing the moment the bills get placed in your hands. While you'll still pay interest on the amount of cash requested, credit cards issued by some financial institutions or stores, such as Discover and Walmart, permit you to get cash over your purchase at the point of sale and avoid any extra service charges while doing so.
Cash Over Purchase
When shopping at a store that allows cash over, simply tell the cashier how much money you would like to receive over the amount of your purchase. The charge to your credit card will be the sum of your purchase plus the requested cash. The total amount of the charge must be within the available credit on your card. For example, if you have $300 available credit on your card and your purchase is $100, the most cash over you can receive is $200.
You'll receive the funds without having to pay the service fees associated with a traditional cash advance that comes in the form of an ATM withdrawal or a convenience check provided by the credit card company. However, you'll still be responsible for the interest, which can make this a very expensive loan from your credit card issuer if you don't pay the balance of your bill off promptly.
No PIN needed
Generally, you won't have to type in your PIN to receive cash over the amount purchased. Unlike a debit card, the cashier executes the cash back transaction rather than the terminal. Tell the cashier how much cash over your purchase you would like back at the beginning of your transaction. The cashier then adds that amount to your purchase price.