How do cash advances work on my credit card?
You can use your Prosper Card to withdraw cash at any ATM displaying the Mastercard® logo. To make a withdrawal, insert your card, enter your Personal Identification Number (PIN), and select the "Credit" option when prompted.
Does Prosper charge a Cash Advance Fee?
No, Prosper does not charge a Cash Advance Fee. However, please keep in mind:
- Interest Rates: Cash advances are subject to a variable Cash Advance APR. Unlike standard purchases, interest begins accruing on the exact day you make the withdrawal.
- ATM Fees: Third-party bank ATMs may charge a fee, which will be included as part of your total withdrawal amount.
Is there a daily Cash Advance limit I can withdraw?
Yes, you can only withdraw up to $100 per day, which includes any ATM fees. (For example, if an ATM charges a $3.00 fee, the maximum cash you can receive that day is $97).
Are Cash Advance limits the same as my total credit limit?
No. Your Cash Advance limit is separate from your overall credit limit and is subject to change at any time. Also, your ability to withdraw cash depends on both your Available Cash and your overall Available Credit.
Example: If your account shows $117 in Available Cash but you only have $96 in overall Available Credit, your maximum possible withdrawal is capped at $96 (subject to daily transaction limits). You can only withdraw cash up to whichever amount is lower.
Where can I view my current Cash Advance limit?
You can check your current Cash Advance limit and Available Cash balance anytime by logging into your account online or through the Prosper mobile app.