How may the Cash Advance Fee be avoided?

Card Recommendation Request Forum
1

Is there a credit card that eliminates the typical 3% cost when sending money using Venmo or Cash App? (Have no annual charge, please)

2

The Venmo Credit Card offers a solution

1 Like
3

I’ve had some luck with the Chase Freedom Unlimited. No annual fee, and it avoids those pesky fees when you’re sending money. Feels like a win-win.

4

Currently, there isn’t a credit card that specifically waives the 3% fee for sending money through Venmo or Cash App. These transactions are often classified as cash advances, which typically come with higher interest rates and fees.

Alternative Options: While there isn’t a direct solution, consider these alternatives:

  • Debit Cards: Linking your debit card to your account usually avoids the 3% fee.
  • Bank Transfers: Some banks offer peer-to-peer transfers with lower or no fees.
  • Digital Wallets: Platforms like PayPal or Zelle may provide fee-free or lower-cost options.
  • Cash-Back Credit Cards: If you must use a credit card, opt for one with cash-back rewards to help offset the fee.

It’s important to balance the convenience of using a credit card with the potential costs.