A credit card cash advance is a withdrawal of cash from your credit card account. Essentially, you’re borrowing against your credit card to put cash in your pocket. However, there are costs to taking a credit card cash advance and, in some cases, limits on the amount you can withdraw.

Here, Better Money Habits®asks Bank of America’s Jason Gaughan, SVP, Consumer Card Products, about the key considerations of a credit card cash advance.

“Let’s say you go to your bank or to an ATM and use your credit card to take out money. While the process may seem similar to withdrawing money with a debit card, what you’re really doing is taking a cash advance on your credit card,” says Jason Gaughan, SVP, Consumer Card Products at Bank of America. “Unlike a debit card withdrawal, in which you’re accessing your own funds, with a cash advance your credit card company is essentially lending you money and charging your account. The charge will likely cost you; cash advances generally have a transaction fee and a higher annual percentage rate (APR). Additionally, there’s usually a limit on how much cash you can get an advance on.”

Using your card for cash isn’t the only form of cash advance, though. Some credit card companies send customers checks in the mail. These “convenience checks,” as they are known, are linked to your account. If you deposit them, the transaction is considered a form of cash advance, which subjects you to the cash advance APR. You may also incur transaction fees.

Cash advances can be an important source of funds in an emergency. Although you don’t want to plan on using cash advances regularly, you might use one if you are short on funds and unable to charge an expense. However, always be sure to consider all your options given the costs.

It’s a good idea to consult your credit card agreement to make sure you know the rules and fees. Here are a few costs to consider: