The simple answer to this question would be Yes! You can very well withdraw cash using your IDFC credit card. This is especially enticing when you have a money crunch or your account doesn’t have enough money. This is also lucrative in case of an emergency. 

However, one has to be careful while using a credit card to withdraw money from ATMs. Unlike your debit card, withdrawals using a credit card are not free. They will either have a fixed charge or a percentage of the total amount withdrawn as fee. Also unlike your purchase transactions, where there is no interest charged unless you cross your payment due date, interest is charged from day 1 of withdrawing the amount. 

In banking language, withdrawal of money using a credit card is called Cash Advance. You cannot withdraw unlimited cash. The limit will be set by the bank as per your agreement and your credit score. Your cash advance limit would be lower than your transaction limit. Transaction limit. Transaction limit for instance is how much you can spend using your card for online or in-store purchases. 

IDFC FIRST BANK credit card offers interest free ATM cash withdrawals for up to 48 days from the date of the issuance of the card. The fee per transaction is Rs. 250 with the monthly interest on cash advance transactions ranging from 0.75% to 3%.

It’s advisable that one should use credit cards to withdraw cash only during emergencies or when you have no other option. Whilst the convenience is there, the interest payment you will end up paying might not be a very pleasant experience.


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