How To Make A Cash Advance Using Your Metrobank Credit Card

Most credit cards have a cash advance option for holders in good standing that allows them to withdraw money from a credit card. However, fees and interest make credit card cash advances the most expensive transaction. This article will show you how you can use your Metrobank credit card to take out a little cash in an emergency.

Photo courtesy: Metrobank

1. Before you use your credit card at an ATM. You need to get 4-digit Metrobank Cash Advance Personal Identification Number (Pin). You can call Metrobank’s customer service at 1-800-888-5775 to obtain you Metrobank Cash Advance Pin.

You will receive the pin within the next 24 hours. You have to memorize the pin for future cash advance transactions. In the event that you forgot your pin, you will need to get in touch with customer service to obtain new one, which will be randomly generated by the system.

2. Insert your Metrobank credit card to the ATM.
3. Enter the pin at the prompt.
4. Choose “Withdrawal,” “Get Cash,” or “Cash Advance.”
5. Press the amount you wish to avail of (take note of the corresponding ATM’s limit per transaction).
6. Choose “Current” instead of “Savings” when asked where you would like to withdraw money from.
7. Press “OK” or “Confirm” to complete the transaction.
8. Get your credit card and cash.

There are a number of costs associated with a credit card cash advance, starting with the fee. Most credit cards charge a cash advance fee, which typically range from 3% to 5% of the transaction amount.

Your cash advance limit is part of your total credit limit. There is also a fee of 3% or Php 600 for Peso Account or USD 12 for Dollar Account. There will also be additional charges if you used a non-Metrobank ATM.

As much as possible, you should avoid making cash advances on your credit card unless it is an emergency financial situation. In addition to cash advance fees, you don’t receive a grace period on cash advances. It means, you will not get a full billing cycle to pay off the amount you borrowed.

So if you are going to loan money from your credit card, make sure you pay it off as soon as possible to avoid more finance charges. Taking longer to pay means you'll pay more in the long run.

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