When life happens and you need a little help with some quick cash, a cash advance credit card option can be just what you’re looking for. Cash advances from your pre-approved credit balance offer you instant money right when you need it. You don’t need to fill out a new application or sign up for additional credit. It is just fast cash debited directly into your bank account.

If you’re looking for instant credit card approval on a new credit option, then you have come to the right place. We offer a fast and hassle-free credit card application online that takes you just minutes to complete and submit.

What is a cash advance?

The term ‘cash advance’ typically means a small loan that is usually used to help you out between pay cycles. It can refer to when a company offers an employee the ability to claim their pay before it is technically due to be paid to them or when a payer pays part of a person’s wages before they start work on things like building projects and other projects which require a cash outlay at the start. In the online credit card world, however, a cash advance is a cash transfer from your credit account to your normal banking account, or someone else’s. A cash advance from your credit card comes with a different interest rate to normal purchases and possibly cash advance fees. 

Because of this, cash advance loans have received a poor reputation for being very high in interest and very inflexible with repayment options but MoneyMe is the moneylender changing the field of play in this area. We specialise in quick cash loans from between $5000 and $50,000 available to apply for online and with competitive interest rates and very fast approvals and turnarounds. We use the power of the internet to process our loan applications faster than your bank. We have tailored our low doc personal loan applications to customers just like you who want easy finance applications and fast cash straight away. 

You can even repay your total loan amount when your pay cycle arrives, regardless of the original loan terms. We don’t charge early payout fees, so you don’t get stung for repaying your credit in full sooner rather than later. Or you can take a look at our complete suite of loan products to find the best fit to express loans online we have available.

Can you get a cash advance on a credit card?

If you’re looking for less than $5,000 in cash, then a cash advance credit card option might work best for you. A quick injection of cash can come in handy for covering emergency costs like urgent home repairs or mechanical repairs. It can even help you out covering your rent or other regular payments when your finances are a bit stressed like around the holiday seasons or when you’ve been ill and haven’t been able to work.

MoneyMe offers customers the Freestyle virtual Mastercard®. Like any other credit card, it gives you access to a revolving line of credit for balances between $1,000 and $20,000. Unlike other providers, however, our credit card doesn’t live in your wallet with the other plastic cards; it lives in your smartphone instead. Use it to pay for purchases in-store using Tap n Pay or for shopping online and paying your everyday bills online in a breeze. You get up to 55 days interest-free on purchases made which means that if you repay your credit funds within that period, you’re essentially using an interest-free credit card.

There is also the added benefit of drawing cash from your Freestyle account. The Freestyle fast approval credit card offers you endless funds to draw on up to your pre-approved amount. Every repayment frees up new credit you can use again. If you need a little cash boost between paydays, then you can transfer money using the cash advance credit card option to your normal account and withdraw it instantly. 

We’re a fair and responsible money lender so everything you need to know about drawing cash from your Freestyle account is available to view on our website, including our full schedule of fees and charges, as well as the cash advance interest rate. It’s a good idea to know exactly how much a cash advance from your credit card will cost you before you choose this option. For example, everyday purchases you make with the Freestyle Mastercard from MoneyMe come with up to 55 days interest-free, but your cash advance does not. You are charged the annual interest rate immediately and until the cash advance amount has been repaid to your credit card.

If you can use your Freestyle account to pay for what you need instead of drawing cash, then this is definitely the cheaper option but when you can’t, you know that Freestyle is there and available. It might be a good idea to prepare a repayment budget before you draw your extra cash so you know how much it will cost you and how long it will take you to pay it back.

How do I pay back cash advance on a credit card?

Paying back your cash advance amount is quick and easy, just like all of your repayments with MoneyMe. We have tailored our personal loan and credit card options to ensure that they are fuss-free and easy to navigate. For example, your minimum monthly repayment for your Freestyle account is clearly shown on your dashboard and then direct debited from your account when it is due. This is just the minimum repayment required, however, and doesn’t mean that you can’t make extra repayments to chop down the interest charged. You can repay your entire credit balance immediately if that suits you.

If you’re regularly using your Freestyle account to help you out with quick cash loans, then it might be a good idea to consider our fixed rate personal loans instead. A $5000 personal loan, for example, could give you the cash you need in a convenient lump sum amount credited directly to your bank account. Our express loans come with fixed monthly repayments and a fixed interest rate throughout the term of the loan. When you receive your loan contract, you can check exactly how many loan repayments must be made throughout the term of the loan which will show you precisely how much the total loan will cost you. As we mentioned before, we don’t sting our customers for paying out their loan balance early which means that you can reduce the number of repayments (and the amount of interest) by making additional payments or clearing out your loan balance before the term is up.

Applying for either our Freestyle virtual credit card or our express loans is quick and easy. You can apply online within just minutes and when you submit your application during our business hours you can expect an approval within the hour. Once approved, you’ll receive your new credit contract from us which can be signed digitally online too. Once we’ve received your signed contract, we transfer your same day loan funds or make your Freestyle credit account instantly accessible.

Cash Advance

The MoneyMe Freestyle Mastercard® is a versatile virtual credit card that can give you an instant cash advance when you need it. This feature-packed virtual card lets you withdraw or transfer up to $5,000. So whether you need money to cover emergency costs for urgent home improvement or vehicle repair expenses, our cash advance credit card may prove useful. It can even come in handy for covering regular payments like rent and utility bills when your finances are strapped.

MoneyMe develops innovative financial solutions catered to modern consumers and businesses in Australia. We let you manage your money through our digital platform that enables you to monitor your credit accounts straight from your mobile device. Check out our entire range of financial products and services and apply today!

What is a cash advance fee for a credit card?

Credit card companies charge you a fee whenever you obtain cash using a line of credit. This cost can either be a flat fee or a percentage of the transaction (most companies charge around $3 or 3% of the transaction – whichever is greater). The MoneyMe Freestyle Mastercard® stands out in this respect, offering significantly lower cash advances fees than the average credit card!

What is the fee for a cash advance?

The MoneyMe Freestyle Mastercard® is changing how people perceive cash advance loans. These types of loans have a poor reputation for having high-interest rates and inflexible repayment terms, but our virtual card is changing the landscape for the better.

The MoneyMe Freestyle Mastercard® offers a 0% cash advance rate to keep you from paying exorbitant fees when obtaining cash. In addition, it charges the same interest rate on regular purchases and cash advances, preventing surprises when you receive your billing statements.

MoneyMe is dedicated to the cause of responsible money lending, so everything you need to know about our cash advance credit card is readily available on our website. We want to make sure that you know exactly how much a cash advance from your credit card will cost before you decide. Moreover, you can be confident knowing that our fees are capped for your protection.

If you decide to take out a cash advance, you can easily view your minimum monthly repayment amount from your mobile dashboard. This amount is directly debited from your bank account on the due date, but that doesn’t mean you can’t make extra repayments to bring down the interest rate. You can even repay the entire credit balance if you want.

MoneyMe provides variable loan costs based on our proprietary loan rating system. That means you can be eligible for lower interest rates if you have a good credit history. Apply now to determine your MoneyMe loan rating!

Where can I get a fast cash advance loan?

MoneyMe takes advantage of the internet to process credit card applications faster than traditional loan companies. Our no paperwork loans have a process that takes just a few minutes to complete. You can submit your application during business hours and expect a response within an hour. If your application is approved, you will receive a credit contract that you can electronically sign. We can then make your credit account instantly accessible on the same day!

MoneyMe built this seamless online application system for modern consumers who value their time. The entire process can be done in minutes through your smartphone to eliminate the hassle of paperwork. If you wish to speak with one of our representatives, you can also call us and expect someone to pick up in under eight seconds!

Is a cash advance bad for your credit?

Your credit report does not include information about cash advances, so the transaction itself will not affect your credit score. However, it is crucial to stay on top of your cash advance repayments, as missing one can negatively impact your score.

MoneyMe accommodates consumers with bad credit scores and considers important factors relevant to their financial situation, but we don’t guarantee approval. Your credit score is one of the first things we assess when evaluating your credit application; but we also consider your income, debt obligations, and living expenses to formulate a fair decision. You should also make sure that the information you submit to us is accurate to give yourself the best chances of approval.

Are cash advances worth it?

You should always consider other viable alternatives available to you before taking out a cash advance on your credit card. If you can use the MoneyMe Freestyle Mastercard® to pay for what you need instead of withdrawing cash, then it is undoubtedly the cheaper option. 

MoneyMe provides detailed loan contracts that let you see how many loan repayments you must make throughout the loan term. This service enables you to establish a repayment budget before drawing out cash from your credit card so that you know exactly how much it will cost and how long it will take for you to pay it back. 

You can also check out our fixed rate personal loans for possibly better terms. These loans can also give you the funds you need in a lump sum credited directly to your bank account. Moreover, these alternatives have fixed monthly repayments and fixed interest rates throughout the duration of the loan.  Explore our complete suite of loan products and services to find the best ones that suit your needs!